Globalization is good because it provides the world with more efficient markets, increases competition leading to better goods, generates wealth in all parts of the world and builds and stabilizes security. Globalization is steadily growing as technology allows individuals within each country to communicate with people previously out of reach.Know More
The world is becoming increasingly interconnected as governments work together to solve global problems. The globalization process has made markets more efficient as businesses and organizations have had to relearn how to create a good or offer a service in the most efficient manner in order to make a profit.
The increased competition is another benefit of globalization. With new producers appearing frequently, there are more people and businesses competing for a share of the global economy. This leads to competitive markets that offer higher quality of goods as well as more affordable prices.
Another benefit of globalization is the change it offers to people in poorer countries. It gives these people a chance, though perhaps not nearly as great as the chance people have in wealthier nations, to sell goods and to make a profit leading to greater wealth distribution. Globalization also protects the world as countries depending on one another for their economy stability are less likely to attack one another.Learn more in Economics
The four stages of globalization are domestic marketing, export marketing, international/multinational marketing and global marketing, according to Zeepedia.com. Global marketing means a firm sells products and services in a majority of countries around the world, duplicating its national efforts in international subsidiaries.Full Answer >
Globalization is generally regarded as a good thing because it creates open market opportunities and fosters efficiency between suppliers, partners and customers through a network of distribution; for example, a company can sell electronics in the United States or Japan with equal ease. This type of efficiency allows for the ease of integration between markets for optimal management of inventory and distribution while boosting aggregate demand and helping to grow the employment potential and income of the world economy.Full Answer >
The advantages of globalization include employment and education while the disadvantages include loss of culture and health issues. Globalization brings countries together to trade and do business with each other.Full Answer >
Globalization has both benefits and disadvantages. Some of the benefits of globalization include more efficient markets, wealth equality, beneficial partnerships, increased opportunities and new solutions to problems. The shortcomings of globalization include unhealthy competition and over-exploitation of the environment.Full Answer >