Topics: Culture, Economics, Third World Pages: 2 (1010 words) Published: October 28, 2014

Daniel Hemingway
BUS606: Global Comparative Management
Dr. Hector IwekaSeptember 7, 2014
Global Impact
From just reading the title alone it is easy to assume what the remainder of this paper will be speaking about; however, the topic itself has more entwined turns and shifts than a mere title can divulge. Globalization is a group of process, methodologies, theories, and principles that stretch across the world and appears dressed in one uniformed concordance. Globalization’ impacts are highly visible as it has forged civilizations out of unbeaten and hidden paths of the deepest jungles; and even within jungle communities so primitive to the point where modern currency is still in the form of animals and artifacts. Business that was once a colonial trade event has transformed from bartering of flour and seeds in the community market to precious metals and simple pieces of paper called bearer bonds over internet in international waters. Globalization has constructed a new business world identity with both positive and negative impacts that have reshaped cultural differences for many generations yet to come. Globalization

Positive Impact
Globalization has affected everything; however, it has affected everything differently, thus, the conversation about global impact depends on what the topic is in relation to: income and employment are huge entities affected by it. Globalization has focused energies, regulations, and strategies toward developing poor undeveloped nations and third world countries thrusting them into various development stages. It has enabled some developing countries to became larger and richer quicker, while giving other poor countries the opportunity to improve their economic structure. Structures that have changed in response to the forces of comparative advantage: in other words, they have moved up the value-added chain (Spence, 2011). Globalization has also changed the entire business environment not limited to only...

References: Lee, E., & Vivarelli, M. (2006). The social impact of globalization in the developing countries. International Labour Review, 145(3), 167-184.
Malota, E. (2012). Global Cultures? Consequences of Globalization on Cultural Differences, a Commentary Approach. International Journal Of Business Insights & Transformation, 5(3), 94-100.
Spence, M. (2011). The Impact of Globalization on Income and Employment. Foreign Affairs, 90(4), 28-41
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