Globalisation essay 300 words
Answers
Explanation:
Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.
Essay on Globalization
How Globalization Came into Existence?
First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.
Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade. By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.
True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.
From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade.
Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.
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Impact of Globalization
First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.
Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.
Explanation:
Globalisation, in its modern sense, refers to multi-national conglomerates which hire employees across all countries and have full-fledged business operations conforming to different countries. This is what is the modern sense and perception of globalisation is While globalisation might have evolved over the years, it is not an entirely new analogy or concept in the world. Globalisation has been in existence ever since man discovered fire and wheel. Some of the greatest examples are Persian trade in the Arab world, the silk road in China, the toy supply from Kabul, Afghanistan etc. The famous Kabuli wall story that today’s children, in India, read in their textbooks derives its roots from globalisation.
But the phenomenon of globalisation took an entirely new turn at the turn of the century. Especially in a country like India, events like the dotcom bubble, economic freedom in 1992, the progress of internet etc., paved for a truly global India. The very first sign of globalisation in India is the entry of IT (Information Technology) and ITES (Information Technology Enabled Services) or as it is popularly known as Call Centres.
The progress of the internet helped countries like India, Indonesia and China truly prosper and tap the potential of globalisation. Hundreds of call centres opened up in the south Asian countries like India, Pakistan, Bangladesh and Indonesia to enable the non-core activities of different industries like banking, restaurants, education etc.
A globalisation essay is never complete without discussing the advantages and disadvantages of globalisation.
What are the advantages of Globalisation?
Globalisation helped third world countries in Africa and Asia to introduce the power of technology and the internet to its citizens
It is because of globalization that millions of Indian found a job in call centres and other such IT services
Consumers got more choice and freedom to choose from, from various brands offering value addition through their own business competencies
Since business ideas and models got exchanged across the world, entrepreneurship and self-sustenance got a powerful push
What are the disadvantages of Globalisation?
Through FDI (Foreign Direct Investment), companies with deep pockets entered markets and threatened the existence of local businesses. For example, companies like Amazon have been a threat to local Kirana stores in India
Piracy and replication is a big challenge for globalisation. Products can be pirated, replicated and sold for a cheaper price while the original company, which have to spend large sums of money on research and development, will be at a loss
Getting people to work with other people of different culture and ethnicities is a challenge in the HR world. It is not always easy for people of different walks of life to easily synchronise and work with each other, creating synergies
Globalisation will always be like two sides of the same coin. While there are both pros and cons for globalisation, it would not be fair if we don’t give credit for how globalisation has made our world a better place to live in. A revolutionary invention at some corner of the world can be replicated all across the planet, thanks to globalisation. A cure for AIDS found in one country can be distributed provided in other countries as well because of globalisation. The Internet has been at the forefront of all these signs of progress of globalisation in recent years.
Globalisation is not just a boon for business houses across the world, but it has also helped people and governing bodies to realise that countries are just man-made boundaries and at the end of the day, all human beings on the planet are same and connected with each either, through thick and thin.