Globalization

Globalization
See also
Closed economy Tourism and hospitality International division of labor Emerging market economy Importance of international business Domestic market Examples of opportunities Economic factor Hegemony

Globalization is a process of internationalization and standardization of economic life that leads to international integration. The beginnings of globalization were visible a few centuries ago, however, the massive character of this phenomenon dates back to the twentieth century. Nowadays this phenomenon called the age of globalization, affects on the different areas such as: ideas, products, politics, economics, culture etc. Globalization is a universal idea which is characterized by intensity and incidence. It is a process which cannot be stopped.

Globalization increases the impacts of the countries which interact at each other. It is possible thanks to the penetration of services or tangible and intangible products between societies. Due to this situation, countries are getting closer and closer in terms of similarity. Specific standard and patterns of conduct are determined. The companies may direct international activities thanks to: licenses, export, and investment abroad.

Globalization Spheres

• finance and capital - financial mobility, transfers of capital
• market - the integration of business activities all over the world
• technology - the development of global networks
• lifestyle - an increase the role of media, consumption
• politics – decreasing the role of government and parliament
• culture – an impact on the socio-cultural sphere

Advantages of globalization

Process of globalization provides the countries and people with many benefits:

• development of transport, technology
• speed activity
• freedom and mobility
• opportunity to purchase a variety of goods
• demand increase
• economic integration
• reducing the differences between the countries
• large variety of facilitation

Disadvantages of globalization

It is important to know the negative consequences of globalization and it is necessary to minimize them. List of the negative effects:

• standardization of goods and services
• the bankruptcy of small businesses
• lack of originality
• social problems
• migration increase
• obliteration of national values

References

• Bauman, Z. (1998). Globalization: The human consequences. Columbia University Press.
• Featherstone, M. (1990). Global culture: Nationalism, globalization and modernity (Vol. 2). Sage.
• Sassen, S. (1999). Globalization and its discontents: Essays on the new mobility of people and money (Vol. 9). New York: New Press.
• Stiglitz, J. E. (2002). Globalization and its Discontents (Vol. 500). Norton: New York.
• Bartelson, J. (2000). Three concepts of globalization. International Sociology, 15(2), 180-196.

Author: Gabriela Brzęk