Globalization

Paper Summary:

This paper explains that, because new communications technologies put corporate headquarters milliseconds from any spot in the world, globalization is essential if companies are to have a competitive advantage and remain in business. The author examines four basic philosophies of globalization: (1) The economic advantages of globalization, (2) the migration of workers, (3) the effects of First World economic powers on developing nations and (3) the survival mode and identities of a company, its products and reputation. The paper proposes some guidelines for successful globalization of businesses: (1) Expand internationally without disrupting local government, communities and domestic policies; (2) encourage innovation and product expansion rather than limiting competition; (3) leaving something of value for the nations and communities involved in this global expansion and (4) prove that "big" can be "better" in terms of product pricing, innovation and line extensions.

From the Paper:

"In other words, there is not unanimous agreement that globalization benefits everyone. In reading many of the counter-arguments, the philosophy of spreading out over continents and across borders is not necessarily beneficial to anyone except shareholders and investment bankers. According to some leading economists, the Asian financial crisis, called "The Asian Flu" by some, was nothing more than the panic of some investors that the high interest rates offered by these countries were going to be lowered. There was no single financial situation. It was a sudden run on banks, and a tremendous sell-off of investors' shares. Of course, the problem in Japan tended to be more fraudulent and politically-based, as top government officials sought to bail out their friends in banks and brokerages, who had put them into office in the first place."

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• Research Paper # 75203 : "Concepts and Impacts of Globalization"

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