Globalization Essay

701 Words Aug 16th, 2011 3 Pages
MGT 448 July 19, 2011

Globalization What is globalization, and what are some of the traditional international trade theories that support the concept of globalization? Globalization is defined as a shift towards an integrated world economy (Hill, 2009). Globalization can be explained in many ways, one is the globalization of production. For example, computer hardware or software, cell phones, food, and music are all products that are distributed globally. Globalization is the process in which economies of countries all over the globe become integrated over time leading to organizations having access to a larger market base and customers having
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Examples of technological change are Internet, IPods’, and smartphones. Using these technologies create greater data flow and increase the amount of information that can be processed by individuals and firms (Hill, 2009). More examples are the ability to travel around the world by flight and the ability of cars to assist in parking. Explain at least four effects of globalization that impact your community and your organization. Globalization has caused many communities and organizations to be impacted. Companies are able to outsource some of their functions to persons in other countries such as India for cheaper labor. An example of this is some American companies are outsourcing their call centers to other countries such as India. Restaurants for example, McDonald’s, and Starbucks have taken business internationally for better sales. Furniture stores (Badcock), banks (Bank of America), and other larger companies (JC Penny) have taken business to the next level to achieve success by taken business also internationally. There are many other American jobs that are outsourced, when these jobs are sent out of the country the income for those Americans that used to work those positions are now lost. There are not as many jobs in the United States today as there was 10 years ago. The World Trade Organization (WTO) has empowered other countries and weakened the

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