Globalization – 250 and 500 Words Essay
Globalization is referred to as the procedure of expanding, developing and growing the business, its services and technologies all across the globe. It is seen as an increase in connectivity and an expansion of several businesses to the worldwide market. Globalization needs a large international investment for development of large-scale multinational firms for economic integration all across the globe.
Globalization has resulted in technological advancement that has contributed to easier travel, and communication for businesses on an international level. Where globalization has simplified technological access to people all across the world, it has resulted in decrease in the chances of success due to increase in competition.
250 Words Essay on Globalization
Globalization is considered to be a process that has spread science, businesses, and technologies throughout the globe via transportation, trade and communication. It has impacted most of the countries all across the world through various ways like social, political, psychological and economical.
Globalization indicates quick and constant interdependence and integration of nations in the area of technologies and business. The impact of globalization is greatly seen in the areas of the environment, tradition, security, culture, ideas and lifestyle. There are several factors that affect and accelerate the different trends of globalization throughout the world.
Globalization implies a procedure that makes businesses and technology available all across the world. It is responsible for making huge modifications in the existing world where people seem to move away from self-contained nations to an integrated world. Looking at the benefits and impact of globalization, a business has to bring modifications in its existing strategies to be able to operate in several different nations easily.
The basic reason behind the increase in the “globalization” is due to the increasing demands of the public, global acceptance of markets, free-trade activities, emergence of new technologies, and new scientific researches etc. Globalization has been seen to have a large adverse impact on the environment. It has given rise to several types of environmental issues such as deforestation, water pollution, soil pollution, air pollution, climate change, water contamination, biodiversity loss, etc. The increasing concerns related to the environment has to be resolved on an urgent basis via international efforts otherwise it could lead to an end of the human existence on this earth.
500 Words Essay on Globalization
Globalization is the means for the improvement of economy, technological growth, etc. on an international level. It is seen as the way for producers and manufacturers of the goods and products to be able to sell their products and services on a global scale without any form of restriction.
Globalization offer immense profit to business people as they obtain labor at a very low cost in poor countries. It also offers as a lucrative opportunity to firms at the time of dealing with the global market. Globalization aids in facilitating countries to participate, establish and merge industries. It can even invest in shares or equity, selling of services or products in any nation.
Globalization brought a wide range of reasonably priced and superior quality products. It offered economic advantages to the developing nations and employment to a large set of population. With all these benefits, Globalization has also led to fierce competition, anti-national activities, crime, and terrorism.
Working of Globalization
Globalization aided worldwide market to become one single market. It has caused traders to expand their business areas, treating world as a large global village. Before the 1990s, import of a few products like agricultural items, food items, engineering goods, toiletries etc. were not permitted.
However, after 1990s, there was immense pressure from wealthy nations over WTO (World Trade Organization), IMF (International Monetary Fund) and World Bank to permit other nations to spread businesses by extending trade in the developing and poor nations. Globalization and liberalization started in India in the year 1991 under the government of Manmohan Singh.
After several years of introduction, Indian market saw a big revolution due to globalization. This was the time when multinational brands made their presence in India. Some of them were KFC, PepsiCo, Boomer bubble gum, Mc. Donald, Nokia, IBM, Aiwa, Ericsson. These brands began delivering a broad range of superior quality products at a very cheaper price.
All these leading brands revealed drastic revolution that resulted in a tremendous boost to the entire economy of the industrial sector. Cost of quality commodities and goods went down due to the intense competition among international brands that were striving hard to establish themselves in the Indian market. With globalization, the living standards of people was greatly improved. It eradicated regional diversity and established a more homogenized culture in the world.
Positive impact of Globalization
- Globalization has impacted the way education sectors operated and the Indian students received education to a large extent. It made them available huge information and study books all over the internet. Collaboration of the Indian universities with foreign universities significantly affected the entire education industry.
- Not just education, the positive benefits of globalization were also seen in the areas of health sector. They were greatly impacted by expansion of healthcare facilities, and electronic health monitoring machines.
- Globalization also positively influenced trade in the field of agriculture. Due to which quality disease resistant seeds were produced.
- Globalization also brought a drastic revolution in the entire employment sector. It happened with the propagation of businesses such as cottage, carpet, handloom, carving, artisans jewellery, glassware and ceramic.