Economic Globalization And Its Impact On Contemporary Business Organizations (Coursework Sample)

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Economic Globalization
The Economic globalization has played a crucial role in improving the trade among the different nations in the globe. Through the integration of the economic ideas, the trade policies, and the investments among the business organizations, the foreign trade has created a sustainable environment for the economic development of the society. The economic globalization has therefore, brought a great impact on the trading activities among the countries around the globe.
Essay 1 - How do two of the factors that contribute to the process of globalization.
The two major factors that have contributed to the process of globalization are the capital flows movement and the financial markets across the borders as well as the technological improvements. The capital flows in the financial markets in the global arena is critical for the process of globalization (Parisot 668). The flow of capital is initiated by the exportation and importation of goods and services within a country. A state that produces a particular product in surplus can export the product to the global market. This will lead to the flow of capital into the world market. The entry of the exports and imports into the world market will be influenced by the financial markets and the stock exchange rates. The financial markets, therefore, will affect the prices of commodities in the global market thus leading to globalization. Other countries that export of import goods and services will have to adhere to the prevailing global market prices. For example, the prices of the export products from the United States such as machinery affect prices of the commodities in the global market since the U.S dollar has a higher value than most of the currencies.
Moreover, the technological advancement has also contributed to the process of globalization. The adoption of technological infrastructure such as the telecommunication and the transportation resources have created an enabling environment for the process of globalization (Semenyuk 10). Through the use of sophisticated communication infrastructures such as the Internet and teleconferencing, business organizations have been in a position to share business ideas leading to the enhancement of global operations. The communication gadgets have also eliminated the geographical barrier between the countries in the global market. For instance, through online promotion and sale of the commodities, the multinational corporations such as Amazon and e-Bay have expanded their operations due to the advancement in technology. Moreover, the use of modern transportation methods such as electric cargo trains, high quality cargo planes, and undersea oil pipelines have boosted commercial activities in the global market.
Essay 2 - What the term “globalization’ means to you.
Globalization refers to the process through which the individuals, the business organizations, and the countries share the political, the social and the economic ideas and the resources at the international level. The globalization results in the integration of vital economic ideologies that can trigger commercial activities in the global market (Slinkova 30). The main aspects of globalization are economic growth, technological advancements, capital flow in the foreign market, global trade policies and the socio-political ideologies. The characteristics of a nation that is globalized include; the adoption of modern technology, a high economic growth rate and the ability to interact and share ideas with individuals of other cultures. Economic globalization has brought a tremendous impact on the development of the economy. The developed nations such as the United States, the United Kingdom, and Russia have achieved globalization. This is because the countries experience a high economic growth rate characterized by the ability to invest in other developing countries. In the global scene, countries such as India, Brazil, and Saudi Arabia are some of the nations that have recently attained globalization (Baer et al. 51). The countries have managed to reduce the rate of poverty and unemployment. Moreover, the adoption of modern technology has also stimulated economic growth in the countries. In the globalized nations, the various sectors of the economy such as the industrial, the education, and the agricultural sector aim at achieving a high standard of development so as to be equal to the G-20 countries.
The technological advancement has also changed the perception of the individuals in the society. Business organizations can use the teleconferencing services to hold discussions with the stakeholders from different parts of the world. Globalization also involves the adoption of an international political ideology. Globalized nations implement the political ideologies that have been mutually agreed upon. For example, the global bodies such as the United Nations, the World Health Organization pass laws and policies that control the political organizations of the different countries.
Essay 3 How does globalization impact you in our daily life.
Globalization has brought a great impact my life. It has shaped my perception on critical issues such as the need to embrace international trade and socio-political ideologies. Globalization results in the collaborative efforts at improving the economic conditions of a country. According to Goyal (27), through the implementation of the international trade policies, countries have managed to expand their operations in the foreign market. Trade organizations such as the World Trade Organization have set favorable economic policies that prevent the monopoly by large corporations. Globalization has also changed my perception on the need to appreciate diverse cultures. Although different cultures practice different customs, globalization has taught me the need for cultural tolerance. When an individual appreciates the practices of other cultures, the interaction is likely to result in mutual participation in socio-economic activities that will boost the lives of the cultures. For example, through the appreciation of the Indian culture among other developing and developed nations, the ...