Positive Effects of Globalization

Topics: Developing country, Globalization, International trade Pages: 6 (1797 words) Published: June 25, 2013
Communication Technology and Globalization

Globalization has been credited with bringing an increased transparency in the world and communication technology has played a major role in this. Governments can now exchange data, research, analysis, and reports with each other on a real-time basis and this has led to increased cooperation between nations. One of the symbolic manifestations of globalization is the presence of multi-national brands across the globe. Companies like Coca-Cola, McDonalds, Nike etc. are present in a number of countries and to conduct their business smoothly and effectively, they rely on communication technology to a large extent. The latest innovations in web-conferencing have made it possible for businessmen to interact with each other in a better way. The developments that we have seen in the business sector would have never been possible without the presence of an effective communication system. One of the prime examples is the surge in outsourcing that we have seen over the last decade of so. Most US companies have saved around 30% to 50% of their costs by taking their back-office, billing

Globalization: Pros and Cons

The term 'globalization' is profoundly contentious. Where there are some highly appreciated advantages of this ideology of integrating cultures, the world has witnessed some enormously threatening effects of the same too. Its pros and cons simultaneously support and contradict its impact on the world economy. While the ones advocating globalization believe that it is because of this trend that poor economies have regained their hopes and faiths of developing financially, thus, raising their standards of living, the ones contradicting it believe that globalization is the only reason behind elite and high-profile multinational companies trashing local cultures and beliefs, domestic small-scale businesses, and commoners, in the rush to attain an international status. This instigates us to put forth numerous questions like What is the future of globalization with such ambiguities associated? How are cultures going to revive now?

All in all, it is upon the masses to keep a check on our sanctities and traditions, and be all the more tolerant as today, interaction in-person is no more prevalent. Issues will crop up, things would be misunderstood, and the power to tolerate will be tested every now and then. In order to properly balance between the benefits and prices that globalization is associated with, it is highly essential to adjudicate as to how the process of globalization works, and the norms and standards that it consorts with itself. It is then that we can seek an all-inclusive answer to globalization's actual role and purpose within the world economy. The impact of communication technology can be seen in the education sector as well. There are a lot of students who are now able to get access to information through Internet. Students can now get certifications from foreign Universities by completing an online program. These innovations have brought a marked difference to the way education is imparted and has led to an improvement in the quality of education. The impact of globalization on banking industry has been prominent and today we can see various banks being streamlined through effective communication channels. The innovation has also led to the globalization of banking industry as leading banks from all over the world now have their offices in almost every country of the world. While the impact of communication technology has been overly positive, it has led to certain challenges. There is a wide disparity when it comes to access to technology between developing and developed nations. The developing nations do not have a proper infrastructure in place, which has created challenges for a lot of people in these countries. This can be disadvantageous to the developing countries and can lead to economic disparity. Globalization cannot be exclusive as it...
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