Scope Of Globalization

political alignments triggered a process that eventually culminated in the integration of most of the world's nations into a single balance-of-power system." Initially, the European balance of power was flexible and stable. Because of the complexity of European countries, the balance of power is now seen as inconsistent. Europe has a greater capability to sustain and fulfill their necessities like food, water, and shelter than Africa. As the balance of power was typically destroyed, this gave other nations an opportunity to adopt new forms of politics and economics.

Globalization in the past 80 years has connected our world exceptionally well compared to the years before. Just under 80 years ago, when World War II ended, people saw an opportunity to grow together and learn from past mistakes. Globalization has brought the world together which has caused poverty rates to go down, work systems to become stronger leading to more accessibility, and overall life expectancy to increase. Globalization has forever changed the ways of the world and will continue to benefit people by bringing us together to become one substantial world. Globalization has benefited our world involving the decrease in poverty rates.

This research will focus primarily on three scholarly views. Michael Wachter (2007), an economy scholar from the university of Pennsylvania argue that “the cause of this unrelenting decline is a single, fundamental factor—the change in the United States economy from a corporatist-regulated economy to one based on free competition” (p. 581). This study supports the idea that union membership declination occurred because of the US pecuniary alteration which gives more power to companies as opposed to the government controlling the market. Wachter argues that such a decision has a trickle-down effect on the economy.

Debating globalism and nationalism is currently creating a divide between people, locally, nationally, and internationally. After World War II, the world experienced a surge of globalism: the global economy increased in value, environmental and economical issues became interdependent among many nations, and more immigration occurred between countries. This major increase of conflicts in globalist policies continued until the recent years of the 21st century. President of the United States of America, Donald Trump, has implemented harsher immigration policies, especially on the Middle East. Great Britain left the European Union.

International Economy. (21), pp. 38-50 17. Peterson, T.M and Thies, C.G. (January 2014) 'The Demand for Protectionism: Democracy, Import Elasticity, and Trade Barriers. '

When it comes to comparing the past with the present, the idea of globalisation is deliberated quite often. The twentieth century coined the term ‘globalisation’ as international organisations were introduced, aiming to reduce trade barriers and maintaining healthy global trade relations. On the other hand, the twenty-first century induced a fear of globalisation as companies were outsourcing their production allowing certain societies to continue development while others remained constant. In June 2016, Brexit (Britain’s exit) took place because the majority of the United Kingdom (UK) voted to leave the European Union (EU). This event exhibits people disrupting the political mandate by voting against cultural and economic globalization.

I. INTRODUCTION a. BACKGROUND: Globalization is a process of interaction and integration among the people, companies, and governments of different countries, a procedure compelled by international trade and investment, and supported by information technology. Furthermore, this process has an effect on various other systems such as on the environment, culture, political systems, economic development and prosperity and lastly, on human physical well-being in societies around the world. “Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 1999 flows of foreign investment nearly doubled, from $468 billion to $827 billion” (York, 2016). Technology has been another primary driver of globalization,

Introduction Nowadays people can communicate easily. They can share their ideas, their cultures even with people who are not in their countries. They can trade, transporting products around the world in just a few days. This is a big economy where everything related to each other. This is globalization.

Globalization and Nation States Globalization has integrated and intertwined the economies of the world. In the world today, every nation has become independent on every other nation, be it through trade or through finance. Developing countries today are attracting large rounds of foreign investment, and this foreign investment is coming from the developed countries. Thus, the money of the developed countries is today invested in the developing countries.

Information can be accessed easily and freely through the internet, mobile phones, television and other devices. Globalization has increased the economic right for people worldwide especially in the developed world. There has been an increase in the standard of living of many people hence healthy lifestyles. However in my opinion, globalization has done more harm than good to the people of the world especially people in the developing world.

The exceptionally notoriety of the word 'globalization’ signals a require for caution. The word was barely utilized some time recently the late 1980s, indeed in scholarly circles, but nowadays you can barely open a daily paper without experiencing the term. It might effortlessly show up to is an elegant name utilized to assign wonders around which one has as it were the vaguest thoughts. However to dispose of the concept of globalization, and the huge consideration agreed the marvels it envelops, on such grounds, would be silly. There is a genuine require for a common, non-specific term to portray the complex, multi sided ways in which the world is inter-connected, and progressively so.

Introduction Globalisation is the process that brings together the complaints nations of the world under a unique global village that takes different social & economic cultures in to consideration. First this essay will analyse globalisation in a broader term, second the history and foundation of globalisation that were intended to address poverty and inequality, third the causes that lead to globalisation and the impact that globalisation has on the world’s economy. The participation in the global economy was to solve economic problem such as poverty and inequality between the developed and developing nations. What is Globalisation?

The aim of this assessment is to reflect on what I have learned this semester regarding the module of Business in Global Context; from the lectures with the professor, the case studies done in class and the three previous patchworks that we worked on. We have learned that there are different internal and external components that affect the business environment, from corporate social responsibility to cultural and institutional framework; organizations must take into consideration all the factors related to the different parts of its environment. For the topic discussion, I will be discussing globalization and how it has affected the global business environment along with the key aspects and the different point of views regarding it.

Through globalization, people around the world share information as well as goods and services. As a result of globalization, consumers around the world enjoy a broader selection of products than they would have if they only had access to domestically made products. International trade has stimulated tremendous economic growth across the globe-creating jobs and reducing price. As globalization accelerates change in technology, more jobs are created and as a result more people are employed thus increasing their purchasing power. As the demand of consumers rise, more and more products are produced to suit the needs and wants of the people.

4.0 Implementation 4.1 Broader perspective Globalization is affected by various factors that drive towards its existence and formation in the society and a set of these macroeconomic factors. As per this analysis we can get an overview of the current economy of the country that helps the researcher to make relevant suggestions and recommendations that can benefit the economy as well as society to make them believe and trust that the globalization enhances their behaviour and life style. PEST Analysis: Source: Visual.ly website PEST Analysis of Saudi Arabia Political environment Giddens and Griffiths (2006, p. 59) states that mainly there are three reasons why politics has become one of the main drivers of globalization.