Globalisation Essay Example | Topics and Well Written Essays - 1000 words - 2

Globalisation - Essay Example This is different from globalization because globalization is the erasure of national boundaries in the attempt to integrate all the nations in the world into one economy where the flow of capital and other economic resources such as labor is not hindered or limited by national boundaries. By the very fact that globalization tries to do away with national boundaries and come up with ways to integrate the world economy, it is clear that internationalization and globalization are not only different but actually opposite. Secondly, while internationalization is achieved mostly through human effort, globalization is an inevitable process which is happens on its own. However, human effort is applied to facilitate globalization. Internationalization can happen even without involving all the nations in the world. For instance, some international firms refer to themselves as internationalized even though they operate in just a few countries. Globalization on the other hand has to touch at al l corners of the world. Q2 Globalization will offer an organization at least two main advantages. Globalization will offer a larger market niche for any firm. ... With globalization, such barriers are eliminated and, therefore, it is easy for any firm to participate in business anywhere around the globe. The second significant advantage to firms may be the easy flow of labor which can also be used by such firms to manage labor costs. Through globalization, it is easy for a firm in one place to take advantage of the affordable labor. Organizations can access better economic resources and this can give them strategic edge is they are able to use these resources in a better way. A good example is the way most American firms are seen to take advantage of China, both as a source of affordable labor and as a market for their products. According to Moon (2010), firms are for instance taking advantage of the internet to be able to exploit their strategic edges. Q3 Technological advances have been extremely useful in advancing globalization. There are two significant technological advances that have made globalization to be achievable. One such technol ogy is the communication technology which enables information to flow easily from any point of the world to the other. The other is the transport technology that makes the moving of goods from one point to the other. Information technology has made it extremely easier for money to be easily sent across the world with minimal cost. More than that, technology has made it possible for people to trade goods outside the formal channels. Retail websites such as e-bay, Amazon.com and many other websites work in conjunction with online payment systems such as PayPal, Moneybookers etc to make sure that individual in any part of the world can buy and sell goods and services in any other part of the world. Communication technology has also made it possible for individual and organizations to be