The paper 'Effects or Impacts of Globalization" is a perfect example of business coursework. Economic and trade liberalizations are other sources of globalization. The liberalizations have liberalized the world’ s trading system leading to the reduction in trade protection (Intriligator, 2003, p. 3). The process of liberalizations began a long time ago, but the Great depression interrupted it (World War 1 and World War 11). Liberalization has also increased capital movement and production factors that have enabled nations to carry out healthy business. A change in institutions is another source of globalization.
Organizations empowerment is due to advanced communications and hence they have had a wider reach due to the changes brought about by technology (Intriligator, 2003, p. 4). The organizations that focused on local markets have extended their focus to international, national and multinational markets. The organizational changes realized have led to an increase in productivity, power and profits. The organizations that are more receptive to change are the main beneficiaries of the benefits. Another source of globalization is the developments in culture. There has been a need to popularize and globalize culture, arts and media.
As a result, the English language was chosen as a global means of communication. It is always up to an individual to decide whether globalization has had positive or negative effects, but one thing that stands out is the fact that it has brought changes in the world system. It also possesses both challenges and opportunities. Another clear fact is that the institutional, policy, cultural, technological and ideological that led to the emergence of globalization is still highly active today (Intriligator, 2003, p. 6). It is also evident that globalization will be greater in the future due to emerging trends.
One outstanding trend that is showing so much growth in international trade in services. It has shown growth in the financial and telecommunication services. Effects or impacts of globalization Globalization has significantly impacted the world’ s economy. It affects the production of both services and goods; it affects the employment of human resource, and it affects technology, as well as, investment, which is both human capital and physical capital (Intriligator, 2003, p. 7). The major effects of globalization have been on competition, efficiency and productivity. Economic effects: The level of manufactured goods has increased tremendously since the conception of globalization.
For companies to survive in the global business market, they have to keep on upgrading their products and services through the use of technology. This is done with the aim of keeping up with the competition. Globalization is viewed as a positive force that has enabled countries to reduce their poverty line equations. The benefits, as well as costs of globalization, have had an equal distribution across nations and regions. There has also been a growth in trade services, which include legal, financial, and managerial and information services (Intriligator, 2003, p.
7). Income equality: The number of people living below poverty has dropped since the inception of globalization; this is according to World Bank figures. Introduction of globalization has seen an increase in income equality within and between nations and regions.
Branson, M. (1999). Globalization and Its Implications for Civic Education. A paper delivered to
the Democracy and the Globalization of Politics and the Economy, International
Fisher, D. 2009. Human Resources in the New World. Globalization, Technology and
Outsourcing, Vol. 4, Issue 8.
Ganly, S. (2010). The effects of globalization on management and leadership.
Intriligator, M. 2003. Globalization of the world economy: potential costs and benefits and a net
Assessment. Retrieved 23 March 2012 from
Monsod, S. (2000). Globalization: Challenges and Opportunities. Retrieved 23 March 2012
Mrak, M. 2000. Globalization: Trends, Challenges and Opportunities for Countries in Transition.
United Nations, Industrial Development Organization. Retrieved 23 March 2012
Vaira, M. (2004). Globalization and Higher Education Organizational Change: A Framework for
Analysis. Netherlands: Kluwer Academic Publishers.
Van Der Bly, M. (2005). Globalization: A Triumph of Ambiguity. Current Sociology, vol. 53,