Globalization is a factor that can either hurt or help a business. Some see it as doing good and others see it and doing bad. Good, or bad, globalization has a huge impact on businesses and companies today. Globalization has allowed money and information to be accessed easier and faster. It has allowed goods and services produced in one part of the world to be available for import or export in other parts of the world much faster. It also has increased international travel and international communication so businesses can access a variety of different possessions to adapt to different kinds of cultures. "Globalization can be incredibly empowering and incredibly coercive. It can democratize opportunity and democratize panic. It makes the whales bigger and the minnows stronger. It leaves you behind faster and faster, and it catches up to you faster and faster. While it is homogenizing cultures, it is also enabling people to share their unique individuality farther and wider." (About.com 1) There are many disadvantages as some may think about globalization. One debate about globalization is that it only benefits the rich, while it gives a disadvantage for the poor. It makes the rich richer and the poor poorer. Globalization allows multinational corporations to influence political decisions; therefore they are gaining more power over smaller businesses and companies. Because of this disadvantage towards the poor, The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources, while the poorest 80 percent consume just 14 percent. (Pros and Cons of Globalization 1) There are also some advantages towards globalization. Some think that globalization has the potential to make the world a better place, where everyone will have a job. It will give a chance for those who are less knowledgeable to experience the global market. Global free trade, also known as Globalization...
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