Student Answers avasbruce Student There are benefits and disadvantages to globalization.
Student Answers avasbruce Student There are benefits and disadvantages to globalization. Firstly, globalization is good for certain countries more, such as those in the First World or Global North.
Think of McDonald's and Starbucks and other big American brands. We can find McDonald's everywhere almost. Due to globalization, many local brands and businesses in poorer developing countries go bankrupt and can't survive the economic might of these rich countries. Local cultures and traditions change.
People no longer wear national costumes because they all want to look like Hollywood stars and wear jeans, for example. People want to become "American" and consume everything American.
Also because of globalization, more and more people are learning and speaking English to the detriment of local languages. There are more international schools and the focus now is on the acquisition of this global language rather than their own L1 or mother tongue.
Resources of different countries are used for producing goods and services they are able to do most efficiently.
Consumers to get much wider variety of products to choose from.
Consumers get the product they want at more competitive prices. Companies are able to procure input goods and services required at most competitive prices.
Companies get get access to much wider markets It promotes understanding and goodwill among different countries. Businesses and investors get much wider opportunities for investment.
Adverse impact of fluctuations in agricultural productions in one area can be reduced by pooling of production of different areas. Developed countries can stifle development of undeveloped and under-developed countries. Economic depression in one country can trigger adverse reaction across the globe.
It can increase spread of communicable diseases. Companies face much greater competition.
This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale. For more info about the pros and cons of globalization, check out this video: Increases the gap between the poor and rich — income inequality.
Cultural convergence — more people are moving toward western fashion 3. Demand more of skilled workers and causing redundancy of skilled workers rksudhir Student Advantages of Globalisation Globalisation helps in bring the whole world together as one village.
Every consumer has more access to the products of foreign countries. Efficient use of natural resources. Employment generation and income generation Disadvantages Globalisation can have negative effects on local industry.
Globalisation expands monopolies by countries equipped with know-how and power. I have benefited a lot from your views. If you are to consider the lump-some cost, then, yes, it is high, but the same cost goes even higher if the company has to market a product differently in every country that it is selling.
Scope of this kind of marketing is so large that it becomes a unique experience. Global marketing allows you to have a consistent image in every region that you choose to market. Quick and Efficient Use of Ideas: A global entity is able to use a marketing idea and mold it into a strategy to implement on a global scale.
Uniformity in Marketing Practices: A global entity can keep some degree of uniformity in marketing throughout the world. American consumer will be different from the South African. Global marketing should be able to address that.Advantages of globalization in the developing world It is claimed that globalization increases the economic prosperity and opportunity in the developing world.
The civil liberties are enhanced and there is a more efficient use of resources. The Disadvantages of Globalization Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages and poor living and working conditions), as well as a lack of concern for the environment, mismanagement of natural resources and ecological damage.
Oct 10, · Financial globalization also bares benefits to investors. For example, it does promote for a “better financial infrastructure” (Schmukler, ).
As a result, lenders and borrowers operate in a financial system that is more “transparent, competitive, and efficient” (Schmukler, ). Increased free trade and communication between nations, along with increased access to technology, media, education, healthcare, consumer goods, and other resources are often considered advantages of globalization.
Some disadvantages of globalization include exploitation of developing countries, cultural homogenization, and adverse effects on .
Globalization Advantages and Disadvantages.
The Top 4 Globalization Advantages. 1. Globalization Increases Free Trade Globalization has increased the free trade between countries. The increases capital liquidity has allowed investors in well developed nations to invest in developing countries. Financial globalization can lead to large benefits, particularly the development of the financial system. But financial globalization can also create crises and contagion. The net effect of financial globalization is likely to be positive in the long run, with risks being more prevalent immediately after countries liberalize. Financial globalization can lead to large benefits, particularly the development of the financial system. But financial globalization can also create crises and contagion. The net effect of financial globalization is likely to be positive in the long run, with risks being more prevalent immediately after countries liberalize.
Research Paper The Benefits and Disadvantages of Globalization Globalization has an impact that is widely spread and perceived in a variety of different ways. Specifically, its long-term positive effects and the portion that contains negative influences.
Advantages of Financial Globalization. There are loads of advantages that the world is enjoying today due to Financial Globalization.
First and foremost, it has enhanced capital flow in each and every country with which a country may always remain prepared to counter any financial crisis.5/5(2).