Paper Summary:

In this article, the writer discusses what globalization is and looks at why it is important to domestic firms and the individual consumer. The writer also analyzes the ways in which globalization is a benefit and how it can operate as a threat. Finally, the writer concludes with a discussion of the manner in which globalization affects a society's beliefs, economy and politics. The writer concludes that facing the effects of globalization calls for a complete change of mind-set among policymakers, planners, administrators, academicians, researchers and people alike. The writer maintains that overcoming these challenges will no doubt lead to a better society for individuals in all countries, whether economically advantaged or under developed.

Outline:
Introduction
Importance of Globalization to Domestic Firms and the Individual Consumer
Benefits of Globalization
The Threats Posed by Globalization
The Effects of Globalization on a Society's Beliefs, Economy & Politics

From the Paper:

"Globalization is important to domestic firms because it allows them the opportunity to expand into international markets, thus growing their business and increasing their revenue potential. It gives domestic firms the opportunity sell their goods online through ecommerce worldwide, without having to establish a company in a foreign country. Domestic firms can also set up factories overseas and outsource the production of their manufactured goods, at a much lower price than before. Outsourcing also benefits the foreign country that the goods are outsourced to, because it creates previously unavailable jobs in poorer countries. Globalization affects the end consumer because people in other countries are able to make purchases online without having to travel to another country. Through the Internet, the domestic consumer now has the opportunity to purchase foreign products and goods not previously available to them. Technology has also allowed for the rapid shipment of goods between countries, connecting countries through global commerce."

Sample of Sources Used:

• Egendorf, L. (2004). The Information Revolution. MI: Green Haven Press.
• McChesney, R. (1998). Making Media Democratic. Boston Review.
• PIPA. (2000). Americans on Globalization: A Study of US Public Attitudes. Retrieved March 29, 2007, from http://www.pipa.org/onlinereports/globalization/4.html.
• Soros, G. (2002). On Globalization. New York: Public Affairs.
• Stiglitz, J. (2002). Globalization and its Discontents. New York: W.W. Norton & Company.

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