The Pros of Globalization

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The Pros of Globalization

Globalization is the growth of companies and businesses to a global or worldwide scale. This act of globalization can be dated as far back as Canada’s independence, as far back as the United States’ independence and probably even further back than that. If globalization has been going on for this many years then why do some people still feel obligated to purchase goods and services that have been manufactured in their native country? Is it because of preference or style? Well it could be, but more often than not, it is because the consumer feels the need to stay loyal to their country and only purchase goods that were manufactured within their own borders. It is easy to understand why someone might feel this way because they want to support the local businesses. However, the truth is, no matter how hard we might try, it is nearly impossible to escape the boundaries of globalization! So why don’t people just start to embrace it? Globalization is, and has, changed the way business is being done in a good way. Globalization creates competition within different markets throughout the world, and with more competition between companies and businesses comes more innovation. Not only does globalization inspire technology to advance but it is a much more convenient and efficient way of doing business and it is responsible for promoting peace between nations.

Without competition within industries, there would be no need for companies and businesses to innovate and create new products and technology to the extent that they do in present day. Thankfully for globalization, innovation is something that has a strong presence in modern day. When companies decide to expand their products and services into different markets around the world, they pose a threat to other companies native to those countries. When the other companies see this happening they have no choice but to do the exact same and expand. This makes the companies compete against one another to be at the top of the market and to have the best product and customer base there is. Now that globalization has such a huge presence today, the consumers around the world become much more demanding (n2growth.com). The battle between technology powerhouses, Apple and Samsung, is a great example of globalization and consumer demand. Samsung originates in South Korea and ever since it started to become more and more of a presence as an international corporation in the 1990s and started to produce more products that focused on electronics, engineering and chemicals, it became more of a threat to other technology corporations (Wikipedia). Apple never really posed as a threat to Samsung however because they mainly specialized in computers, while Samsung would make televisions, home appliances and cell phones until 2007 when Apple came out with their very first cell phone, the “iPhone” (apple-history.com). As the Apple market started to rise up and spread to all corners of the world with their new “iPhone”, they certainly began to scare a few of the other major technology companies. The iPhone was something people knew about all over the world. You could make calls, text, play games, download thousands of applications and the list goes on and on. With the success of the first iPhone,

(revenue increasing by $1.4 billion in the following quarter compared to the year-ago quarter, with 40% of the quarter’s sales being international), other companies would be forced to manufacture products which had similar qualities as the iPhone in order to compete (apple.com). Nowadays, we are into the 5th generation of iPhones. Samsung has produced numerous versions of the Galaxy S 3 and the Galaxy Note 2. People tend to ask why these companies introduce new products so often. The answer is simple, because they have to in order to compete in the global market place. Another important role of globalization is that it makes business much more convenient and efficient...
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