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HRM Assignment: Globlization

HRM Assignment: Globlization

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Published by: Sami khan orakzai on Jan 26, 2009
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11/10/2012

 
1
Globalization
 
Globalization is a process of interaction and integration among the people, companies,and governments of different nations, a process driven by international trade andinvestment and aided by information technology. This process has effects on theenvironment, on culture, on political systems, on economic development and prosperity,and on human physical well-being in societies around the world.
History of globalization
Globalization is viewed as a century’s long process, tracking the expansion of human populationand the growth of civilizationthat has accelerated dramatically in the  past 50 years. Early forms of globalization existed during theRoman Empire,theParthianempire, and theHan Dynasty,when theSilk Roadstarted in China, reached the  boundaries of the Parthian empire, and continued onwards towards Rome. TheIslamicGolden Ageis also an example, whenMuslim tradersandexplorersestablished an early global economyacross theOld Worldresulting in aglobalization of crops, trade, knowledge and technology; and later during theMongol Empire, when there was greater integration along theSilk Road.The 19th century is sometimes called "The First Era of Globalization." It was a period characterized by rapid growth in international trade and investment between theEuropean imperial powers, their colonies, and, later, the United States. It was in this period that areas of sub-saharan Africa and the Island Pacific were incorporated into theworld system. The "First Era of Globalization" began to break down at the beginning of the 20th century with the First World War.
Effects of globalization
Globalization has various aspects which affect the world in several different ways suchas:
Industrial 
- emergence of worldwide production markets and broader access to arange of foreign products for consumers and companies. Particularly movementof material and goods between and within national boundaries.
Financial 
- emergence of worldwide financial markets and better access toexternal financing for borrowers. Simultaneous though not necessarily purelyglobalize is the emergence of under or un-regulated foreign exchange andspeculative markets.
Economic
- realization of a global common market, based on the freedom of exchange of goods and capital.
Political 
- some use "globalization" to mean the creation of a world government,or cartels of governments (e.g. WTO, World Bank, and IMF) which regulate therelationships among governments and guarantees the rights arising from socialand economic globalization.
 
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Informational 
- increase in information flows between geographically remotelocations. Arguably this is a technological change with the advent of fiber opticcommunications, satellites, and increased availability of telephone andInternet. 
Language
- the most popular language is English.
o
About 75% of the world's mail, telexes, and cables are in English.
o
Approximately 60% of the world's radio programs are in English.
o
About 90% of all Internet traffic uses English.
Competition
- Survival in the new global business market calls for improved productivity and increased competition. Due to the market becoming worldwide,companies in various industries have to upgrade their products and usetechnology skillfully in order to face increased competition.
Cultural 
- growth of cross-cultural contacts; advent of new categories of consciousnessand identities which embodies cultural diffusion, the desire toincrease one's standard of living and enjoy foreign products and ideas, adopt newtechnology and practices, and participate in a "world culture". Some bemoan theresultingconsumerismand loss of languages. Also seeTransformation of culture.
Advantages and Disadvantages of Globalization
Some AdvantagesSome Disadvantages
Increased free trade between nations
Increased liquidity of capital allowinginvestors in developed nations toinvest in developing nations
Corporations have greater flexibilityto operate across borders
Global mass media ties the worldtogether 
Increased flow of communicationsallows vital information to be shared between individuals and corporationsaround the world
Greater ease and speed of transportation for goods and people
Reduction of cultural barriersincreases the global village effect
Spread of democratic ideals todeveloped nations
Greater interdependence of nation-states
Reduction of likelihood of war  between developed nations
Increases in environmental protectionin developed nations
Increased flow of skilled and non-skilled jobs from developed todeveloping nations as corporationsseek out the cheapest labor 
Increased likelihood of economicdisruptions in one nation effectingall nations
Corporate influence of nation-statesfar exceeds that of civil societyorganizations and averageindividuals
Threat that control of world media by a handful of corporations willlimit cultural expression
Greater chance of reactions for globalization being violent in anattempt to preserve cultural heritage
Greater risk of diseases beingtransported unintentionally betweennations
Spread of a materialistic lifestyleand attitude that sees consumptionas the path to prosperity
International bodies like the WorldTrade Organization infringe onnational and individual sovereignty

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