Globalization, as described from a business perspective, refers to the enhancement of international trade. It is the process by which the world has stepped up the business channels to increase and integrate trade between the individual countries of different continents. It is no doubt that business across the world has become very much integrated as compared to a couple of decades ago. The globalization spree has taken a toll on every significant aspect of human life. From communication to transport, the most mundane of daily activities undertaken by the average human being on an average day has been highly enhanced through technology and infrastructure. This has resulted in increased efficiency, especially over long distances.
This sort of capability seemed impossible a couple of decades ago. Right now, it has been the building blocks of the famous worldwide concept of globalization. Anyone that is asked to write about any current trend in the world cannot fail to mention, if not entirely talk about a globalization essay. Globalization is at the center of most things happening in the world right now. For this particular essay, we endeavor to discuss the globalization pros and cons from a business perspective.
How Has Globalization Helped Businesses?
The integration of businesses all over the world has been a significant boost to many companies around the globe. The invention of the internet, for example, has enabled enterprises to take their stage off the physical arena to the web. As an essay on globalization, we cannot fail to mention social media. Platforms such as Twitter, Facebook, Instagram, and many others are heavily used across the globe. Owing to their millions of users, they provide excellent opportunities for businesses to market and advertise their products at reasonable cost. The social media sites are unlimited and unmatched in the jurisdiction. Anyone from any place or any country can use them provided they can access them. Therefore, any business that uses them for marketing can reach several million people in a short while and reach out to people in distant places. This has enabled companies to expand their operations to involve the entire world.
Some businesses have even gone the extra mile and created websites. These websites include everything that a foreigner would wish to know about the company. Most companies actually provide the option of ordering goods online. This is one of the mind-blowing advancements that is being talked about nowadays in an essay on globalization. A customer within the United States, for example, can interact with a business in China. They can shop for a company that’s established physically in Asia, Europe, Africa or wherever, at the comfort of their homes. What is even more interesting is that the online businesses are accessible via the use of smartphones. This is another milestone in the technological advancement that has dramatically boosted globalization.
The banking industries have also gone to new levels in maintaining things online. E-banking services and the ability to transact via smartphones have indeed assisted businesses to establish their operations and maintain flow.
The Pros and Cons of Globalization on Businesses
Globalization has a fair share of merits and demerits in the business arena. It has undoubtedly contributed to the expansion of companies all over the world. When capturing the positives of globalization on an essay about globalization, we cannot fail to highlight that expansion of the market for businesses is the focal point from which the companies have built their sprawl. This expansion of exchange has been achieved through the opening up of social media accounts and websites. The following are some of the advantages that globalization has brought upon businesses:
These are just some of the benefits to be captured in a globalization essay example.
The concept of globalization has had some sour spots for businesses as well. It has given some business an edge over others in due course. The contemporary world has proven to have certain shortcomings that have resulted in the uncontrolled sprawl of some companies. This has proven costly to individuals and other businesses and even a threat to global economic stability. Some of the negative impacts of globalization include:
These points are just a few cases whereby in the attempt to achieve the ultimate ideal globalized situation, there have been drawbacks on other fronts as well. It has been challenging to meet the perfect setting owing to the fact that not everyone plays by the rules as expected. The respective governments of the nations in question can still lead the way to advocate for better procedures to be followed in the quest to preserve the environment and protect human rights.
The Controversy Surrounding Globalization
The people who are behind globalization have been of the opinion that it boosts integration and evens the playing ground for both developing and developed countries. They lay claim to the notion that globalization yields economic expansion, increases production, and overall gets people better-living standards. Globalization for sure has seen the rise of nations such as China. The diversification of companies brings new technology and employment opportunities to third world countries. Trade pacts and treaties together with economic blocs of various nations result in equilibration of development and diversification of opportunities. They give chances to decentralize operations to more deserving, yet underprivileged regions of the globe.
Those, who oppose globalization, generally look at the adverse effects it has on humanity, economy, and the environment. They feel it has not met and will definitely not meet the purpose for which it has been adopted.
In this globalization pros and cons essay related to businesses, we have reviewed the effect globalization has had on markets, the economy, and the environment. It is difficult to make a ruling on whether globalization is the best way for the world to go owing to such controversial outcomes and reactions from different zones. For instance, the consistent rise of global warming is the result of the establishment of many factories, the use of motor vehicles and similar human acts. Their existence can be attributed to globalization, but that does not mean globalization has not had anything for public consumption.