the world is flat Q/A ch1

Topics: Globalization, The World Is Flat, Multinational corporation Pages: 2 (401 words) Published: April 22, 2014
1. In The World is Flat, what does Thomas Friedman mean when he says the world is becoming flat? "The global competitive playing field was being leveled. The world was being flattened." From this, we can see that a "flat" world is one in which the "playing field" on which companies compete has become level. It is one in which companies from various countries can compete with one another on an equal basis. Friedman says that what has really driven this is what he calls "Globalization 3.0." This is globalization that is caused by computer software. The internet, he says, is the big leveller that has made it possible for companies in India, for example, to compete with those in the US. So, when Friedman says the world is flat, he is saying that technology has allowed companies from more and more countries of the world to compete on an equal basis in the global economy. 2. How have improvements in information technology leveled the playing field? Telephone and computer technology, previously a stronghold of developed countries, has been accessed and mastered by countries such as China and India, making these nations economically competitive. This has leveled or "flattened" the world 3. What was the key agent of change in Globalization 1.0 (A.D. 1492-1800) The key agent was how much physical strength your country had and how creatively you could move it into action. 4. What was the key agent of change in Globalization 2.0 (A.D. 1800-2000) The key agent was multinational companies.

5. What was the key agent of change in Globalization 3.0?
The newfound power of individuals to collaborate and compete globally 6. What is the basic law of supply and demand with regards to the labor market? Wherever the richest human resources and cheapest labor is, businesses will naturally go there.

7. What is the key question that every individual must ask themselves in this third era of globalization? Where do I, as an individual, fit into the global competition and opportunities...
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