Research paper 2
Globalization is a process where an increased proportion of economic, social and cultural activity is carried out across national borders. The process of globalization has significant economic, business and social implications. According to the International Monetary Fund: it is “The process through which an increasingly free flow of ideas, people, goods, services and capital leads to the integration of economies and societies”. The upcoming paragraphs will respond to the following question. In your Opinion is Globalization good or bad? Explain your answer. How has Globalization affected business logistics? In ODS 333 you have applied spreadsheet models to a range of operations management problems. How do you think spreadsheet models might need to be altered to consider the impacts of Globalization? 1. Is globalization good or bad?
Since the world is in the process of globalization, resources of different countries are used for producing goods and services they are able to do most efficiently. People are able to get a much wider variety of products to choose from and the competitive price allows them to get it at cheaper prices. Also companies are able to procure input goods and services required at most competitive prices. It promotes understanding and goodwill among different countries. Businesses and investors get much wider opportunities for investment. Pooling of production of different areas can reduce adverse impact of fluctuations in agricultural productions in one area. Forbes said in its article The Good, The Bad, And The Ugly Side Of Globalization “The good side of globalization is all about the efficiencies and opportunities open markets create.” Some disadvantages of globalization are the following:
- 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...