Pros and Cons of Globalization

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Globalization: The Good and The Bad

Globalization is the process of the development of a global market-driven economy. When discussing whether a company should be global or not there are many different criteria that should be looked into such as; economic, political and cultural alterations that the company may have to make and to see if the alterations are in the best interest of the company. All most all companies have the main goal of maximum profits. Globalization would allow companies the opportunity to reach maximum profits if they were willing to take the risks.

Globalization as a positive causes most consumers to reconsider where the products they are buying are coming from, this is referred to as value-based consumerism. Consumers are concerned about environmental protection, health risks, nutritional content and safety of food, animals’ welfare and the exploitation of workers. This has led to a growing demand for products that are produced according to values-base standards, for example Free Trade coffee, organic food and lumber from sustainable forests. However, when some consumers are attempting to be more environmentally friendly or are trying to have a positive impact they may be having incredible difficulties because globalization forces consumers to consider information that they may know very little to nothing about. Generally speaking if a consumers should generally be more aware of the goods they are purchasing, whether they be a product of globalization or not.

Economically, Globalization allows International companies free access to any country’s market place, including Canada. This would be a major drawback because foreign companies would be allowed to produce their goods within their country for cheap and then sell them in Canada at a lower cost, thus leading to major competition for Canadian companies. However this also works the other way around. Canadian companies would be allowed to sell their products in foreign markets...
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