The paper "Drivers behind Globalization, Market Opportunities, and Threats of Globalization" is a great example of marketing coursework. Globalization is a complex and controversial concept and it is a continuation of developments that have in progress for quite some time. It has a homogenizing effect on the existing national culture (Jones, Abdelal & Kirby 2008). The pressures of globalization bring societies together and make them more alike as they converge in business approaches, economic and political systems, as well as aesthetic attitudes (Jones et al 2009). Globalization is the increasing interdependence of countries due to the growing integration of people, finance, ideas, and trade in a single global market place (Moncada-Peterno-Castello, Vivarelli & Voigt 2011).
It can also be defined as the multiplicity of interconnections and linkages between societies and states which comprise the contemporary world system (Stiglitz 2002). Globalization explains the process by which activities, decisions, and events in one segment of the world are seen to affect people and communities in other parts of the world that are quite distance away (Stiglitz 2002). The main elements of globalization according to Jones et al (2009) are the flow of cross-border investment and international trade.
The message we can get from these definitions is that globalization is an ongoing process that is characterized by greater interdependence among countries as well as their citizens (Jones et al 2009). This paper looks at the issue of globalization as one of the marketing trends in a broad perspective. It presents the background of globalization, drivers behind globalization, its discourses, market opportunities, and threats of globalization and approaches of internalization. Background of globalization The concept of globalization has been applied since the early 1960s.
Nevertheless, academicians began to use this term in the early 1980s, and since the time globalization has become common terminology in various disciplines, including marketing (Busch 2000). According to Busch (2000) publications on the concept of globalization started to be released at a very low rate in the 1908s. In the late 1980s, the concept appeared on a regular basis in the mainstream press, but it began mainly as a reference for the ever-increasing free market (Teubner 2004). However, as time progressed, it started to appear as a reference to cultural and political aspects.
In particular, it began to appear in reference to particular events, such as the North American Free Trade Agreement (NAFTA) passage and the protests of the World Trade Organization (WTO) in Seattle (Teubner 2004).
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