An analysis of the economic globalization and the aims of the globalized community

Investopedia hosts articles from other investing and financial information publishers across the industry. While we do not have editorial control over their content, we do vet their articles to make sure they are suitable for our visitors. Pologeorgis Updated March 6, — 2: The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged.

An analysis of the economic globalization and the aims of the globalized community

The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged.

Globalization is defined as a process that, based on international strategies, aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments.

The goal of globalization is to provide organizations a superior competitive position with lower operating coststo gain greater numbers of products, services and consumers.

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This approach to competition is gained via diversification of resources, the creation and development of new investment opportunities by opening up additional markets, and accessing new raw materials and resources.

Diversification of resources is a business strategy that increases the variety of business products and services within various organizations.

Diversification strengthens institutions by lowering organizational risk factors, spreading interests in different areas, taking advantage of market opportunities, and acquiring companies both horizontal and vertical in nature.

Using these definitions, some industrialized countries are: Industrialization is a process which, driven by technological innovation, effectuates social change and economic development by transforming a country into a modernized industrial, or developed nation.

The Human Development Index comprises three components: The degree to which an organization is globalized and diversified has bearing on the strategies that it uses to pursue greater development and investment opportunities. The Economic Impact on Developed Nations Globalization compels businesses to adapt to different strategies based on new ideological trends that try to balance rights and interests of both the individual and the community as a whole.

look at both the bright side and the dark side of globalization. In fact, the gulf is wider than ever. Most economists continue to sharpen their tools of analysis and, at least most of the time, demonstrate that a more open international economy generates widespread benefits to . Globalization, as a concept, refers both to the "shrinking" of the world and the increased consciousness of the world as a whole. It is a term used to describe the changes in societies and the world economy that are the result of dramatically increased cross-border trade, investment, and cultural exchange. While a dearth of data and the absence of a framework for analysis limit any analysis, the economic impact of MSE R&D globalization on the United States is likely to differ across materials subfields.

This change enables businesses to compete worldwide and also signifies a dramatic change for business leaders, labor and management by legitimately accepting the participation of workers and government in developing and implementing company policies and strategies.

Risk reduction via diversification can be accomplished through company involvement with international financial institutions and partnering with both local and multinational businesses. Evaluating Country Risk For International Investing Globalization brings reorganization at the international, national and sub-national levels.

An analysis of the economic globalization and the aims of the globalized community

Specifically, it brings the reorganization of production, international trade and the integration of financial markets. This affects capitalist economic and social relations, via multilateralism and microeconomic phenomena, such as business competitiveness, at the global level.

The transformation of production systems affects the class structure, the labor process, the application of technology and the structure and organization of capital.

Globalization is now seen as marginalizing the less educated and low-skilled workers.

Socio-economic impact of Globalization

Business expansion will no longer automatically imply increased employment. Additionally, it can cause high remuneration of capital, due to its higher mobility compared to labor.

The phenomenon seems to be driven by three major forces: Globalization of product and financial markets refers to an increased economic integration in specialization and economies of scalewhich will result in greater trade in financial services through both capital flows and cross-border entry activity.Globalization has increased the demand for education due to the economic payoffs of higher education to global, science based, knowledge.

University training has become more of a necessity to get good job in a globalized world. While a dearth of data and the absence of a framework for analysis limit any analysis, the economic impact of MSE R&D globalization on the United States is likely to differ across materials subfields.

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