Globalization: Introduction

Globalization is a term used to describe how trade and technology have made the world a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. (National Graphics, 2022)




Globalization is a historical process that began with the first movement of people out of Africa into other parts of the world. Traveling short or long distances, migrants, merchants and others have delivered their ideas, customs, and products to new lands. (archive-yaleglobal.yale.edu. 2022

Theodore Levitt, a former professor at the Harvard Business School credited with coining the term "globalization" and with championing the undervalued role of marketing (nytimes. 2022)

The goal of globalization is to provide organizations with a superior competitive position with lower operating costs and to gain greater numbers of products, services, and consumers. (Investopedia. 2022)

There are a number of benefits of globalization such as Access to New Cultures, The Spread of Technology and Innovation, Lower Costs for Products, Higher Standards of Living across the Globe, Access to New Markets, Access to New Talent, International Recruiting, and Managing Employee Immigration. (velocityglobal.2022)

In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods. (nationalgeographic. 2022)  

 

 


References

archive, n.d. archive-yaleglobal.yale.edu. [Online]
Available at: https://archive-yaleglobal.yale.edu/history-globalization
[Accessed 02. 08. 2022.].

investopedia, n.d. www.investopedia.com. [Online]
Available at: https://www.investopedia.com/articles/economics/10/globalization-developed-countries.asp
[Accessed 03. 08. 2022.].

nationalgeographic, n.d. nationalgeographic.org. [Online]
Available at: https://www.nationalgeographic.org/article/effects-economic-globalization/
[Accessed 04. 08. 2022.].

nytimes, n.d. nytimes.com. [Online]
Available at: https://www.nytimes.com/2006/07/06/business/06levitt.html
[Accessed 02. 08. 2022.].

velocityglobal, n.d. velocityglobal.com. [Online]
Available at: https://velocityglobal.com/blog/globalization-benefits-and-challenges/
[Accessed 03. 08. 2022.].

 

 

 

 

 

 

 


Comments

  1. Razi JalaldeenAugust 5, 2022 at 4:46 AM

    The topic should be related to HRM or any theme should be made relevant to the HRM. Please check how to cite and make the references list of online resources correctly.

    ReplyDelete
  2. Pramod's BlogAugust 11, 2022 at 10:42 AM

    This is a good post on Globalization...keep up the good work...

    ReplyDelete
  3. DinithiAugust 30, 2022 at 6:12 PM

    Globalization matters all.
    Well written 👌👍

    ReplyDelete
  4. HarshaSeptember 4, 2022 at 8:02 AM

    Great article .thanks for giving us such a great information.keep up the good work.

    ReplyDelete

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