IMPLCATIONS OF GLOBALIZATION

IMPLCATIONS OF GLOBALIZATION.

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Globalization is a cover word used to describe the integration of societies; economic,

social political and cultural activities through an unlimited flow of ideas, goods and services,

information, finances, capitals, and people from one society to another. Globalization is based on

a dimensional fact of transforming knowledge in a customized and certified manner to achieve

the critical goals of life

For globalization to achieve transformation; it requires people to develop new skills,

knowledge, experiences, and academic institutions are the ones to play an essential role in these

sectors. This skill should be relayed in a manner that transforms global reality and rearranges the

achievement to suit globalization.

Globalization has both positive and negative effects in national developments; first in

economics, globalization has a tremendous positive impact in that; it makes the markets more

efficient and spreads wealth relatively equally around the world.

Globalization has a political and economic ramification that prove to be detrimental to

democracy. Industrial Revolution created more jobs and improved the live standards of various

societies who embrace globalization in their industrial sector.

Technological globalization creates rigid class barriers between the well-educated part of

the society and the less educated part. Also, it is a less job-creating part in cases of its

advancement and globalization.

IMPLCATIONS OF GLOBALIZATION

Globalization has no clear ethical guidelines on how to behave and interact ethically, as it

brings together different communities with various social, political, and economic classes. These

make the development of standard ethical guidelines a bit challenging. Ethical issues on

globalization cover a wide range of aspect in which interacting societies should take into

consideration.

Globalization can advance economic, social, and political development in various

societies, as it brings about efficiency in information sharing and interactions.

Reference

Crane, A., Matten, D., Glozer, S., & Spence, L. (2019). Business ethics: Managing

corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Gaughan, P. H., & Javalgi, R. R. G. (2018). A framework for analyzing international

business and legal ethical standards. Business Horizons.