Essay on Globalization : Meaning, Nature And Scope

800 Words Nov 13th, 2016 4 Pages
Globalization: Meaning, Nature and Scope.

Introduction:

In the contemporary times, globalisation is one of the most important factors shaping our development. The purpose of this assignment is to give a brief overview on the meaning, nature and scope of globalisation. To fulfill the purpose, I have divided this assignment into three parts. The first part shall be dealing with the meaning of globalisation, the second part with the nature and last one with the scope.

Part 1: The meaning of Globalisation.

Today, the world is known as a global village. What exactly has been the reason to coin this new term- global village? The answer is globalization. In very simple words, globalization is the integration of countries and societies for economic development, information sharing and cultural exchange. In this process of integration, the geographical boundaries based limitations are lessened.

“Globalisation is both an active process of corporate expansion across borders and a structure of cross border facilities and economic linkages that has been steadily growing and changing.” —Edward S.Herman

Globalisation should not be confused with the term internationalism. While internationalism means increased intensity and scope of co-operation among countries, globalization means a free and integrated world system. Globalisation is believed to be a process which shall make the world an inter-dependent and inter-linked community. It will lead to sustainable development of the…

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