Definition Globalization? Meaning.
Globalization is the broad process of global integration, interconnectedness and interdependence of international business, economic activities, societies and cultures. It includes an increase of international:
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Trade and competition
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Production and industrial markets
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Products and services
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Migration, labor force movement and job markets
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Investments and financial markets
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Technology usage and
R&D
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Legislation and justice
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Exchange of ideas, information and knowledge
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Lifestyles and cultures
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Politics and political structures
types of Globalization. Dimensions
In a 1996 AMR article Taylor, Beecheler and Napiet distinguish 3 globalization dimensions:
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Globalization of Production: encouraged by the cost
advantages that can be won by establishing an international production network.
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Globalization of Products: favored by the significant
rise in costs generated through the constant need to present ever-newer
products.
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Globalization of Markets: access to more and more
foreign markets since the fall of international trade barriers, creating
new opportunities as well as stiffening competition.
Other major dimensions that can be distinguished are:
- Globalization of Services
- Globalization of Labor, work, people and talent
- Globalization of the Financial System, banking and insurance
- Globalization of Information, knowledge
Reasons for globalization. Causes
This increasing world-wide integration of markets for goods,
services, labor and capital is caused by developments in:
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Modern communication technology (TV, Internet, Google, social networks, mobile phones).
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Transport mechanisms.
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Freer international capital flows.
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Changes in economic, cultural, political, social, and legal
systems.
Debates on Globalization. Opinions and Conflicts
An important consequence of globalization on businesses is
the increased power that multinational organizations have. This in turn has
led to an increased call for
Corporate Transparency,
Corporate Accountability,
Corporate Responsibility, Stakeholder Management and Shared Value.
A number of paradoxes are relevant:
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New Era vs. Business as Usual: Is G. a new global
age, or is there really nothing new under the sun and will governments and
regions retain distinct strengths?
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Autonomous Process vs. Intentional Project: Is G.
an unintended process, or is G. a deliberate, ideological project of economic
liberalization?
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Hard vs. Soft: Is G. caused by the pursuit of material
interests or is G. rooted in an expanding consciousness of living together
on one planet?
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Good vs. Bad: Is G. to be celebrated because of product
progress, better democracy, empowering of people, or is G. dangerous because
of its consequences for the well-being of various groups, the sovereignty
and identity of countries, the disparities among peoples, and the health
of the environment?
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Global Sameness vs. New Differences: Does G. lead
to cultural homogeneity, or will G. lead to new mixtures of cultures and
is integration likely to provoke a defense of tradition?
Forum about Globalization. Below you can ask a question about this topic, share your experiences, report a new development, or explain something.
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Strategies to Win in Frontier Economies
Global players in search for double-digit growth are believed to be running out of opportunities. As a result, multinationals are turning to so called "frontier economies" as both new product markets ...
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The best, top-rated topics about Globalization. Here you will find the most valuable ideas and practical suggestions.
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7 Myths about Business Globalization
According to Subramanian Rangan in Mastering Strategy, there are 7 myths or misconceptions about (business) globalization:
1. Any company with money can go global (you have to study foreign marke...
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Globalisation of Labour
Hello, I am looking for the meaning of 'globalisation of labour'... Is its meaning that people can increasingly work in any country of their choice? Thanks......
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Global Tax on Wealth (Piketty)
Globalization has many economical and even social benefits, but also has its downsides. Like exploitation of labour, making the rich richer and multinational corporations increasingly influencing poli...
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Is Globalization Ethical?
We speak a lot about ethics. Now, if we are asked whether globalization is ethical, what should be our answer?
It had benefits as well as disadvantages as many domestic players are ruined by the ...
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Globalization in Higher Education
We are thinking about globalization/glocalisation from an industry point of view (manufacturing and services). But we are very slow in the education industry to implement this paradigm shift, especial...
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Advanced insights about Globalization. Here you will find professional advices by experts.
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Nationalism and Patriotism in Corporate Brand Communication Strategies Corporate Branding, Corporate Reputation, Corporate Nationality, Corporate Patriotism, Corporate Nationalism Past research in market communication revealed that many consumers prefer to purchase domestic brands because they want ...
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Michael Porter on Competiveness of a Nation Global Competition, Comparative Advantage, Competition Between Nations and Regions Harvard Professor and Co-leader of the US Competiveness Project Michael Porter argues competitivess of a region/nation o...
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6 CEOs on Aspects of Globalization Introduction to Globalization Six Global Business Leaders each give a short statement on what they think about globalization and what it means to thei...
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Compare with: Cultural Dimensions
| Cultural Intelligence
| Competitive Environment
| Macro-Environment
| Economies of Scale
| Emerging Markets
| Nationalization
| PEST Analysis |
Bottom of the Pyramid
| Glocalization
| Diversity Management
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