Globalization

The Global Village

Throughout the course the history, human beings are continuously experiencing advancement in the mode of living. These advancements have enabled the transformation from stone ages to the digital age.

With these developments, the world has turned into a global village. The flow of information and resources is more effective and efficient. The connectivity between people has enhanced significantly. All of these factors have turned the world into a global village.

Conventionally, businesses and trade were limited to geographic boundaries. Thanks to the technology, they have expanded beyond boundaries. The trade between nations have been expanded. Global bodies have been established to regulate the trade between the nations. Multinational corporations or MNCs have come into existence and as the name suggests, they cater to more than one nation.

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Global Resources

The resources of the world are scattered throughout the planet. Countries in the Gulf region are rich in oil reservoirs, countries in the central Asian region are pregnant with energy producing raw materials. Different regions possess different resources. This distribution of resources has created an interdependency among the countries. Countries co-operate with each other to satisfy their needs and requirements.

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Global Interdependence

Countries on the planet Earth are dependent upon each other. This interdependency is due to distribution of raw materials. To ensure productivity and smooth functioning of the process, countries have to rely on other countries for raw material supplies. Economic indicators are aligned with other countries. For illustration, America is the biggest trade partner of China. If American dollar depreciates, it will cause huge repercussions for China.

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Formation of Global Framework

To cater the interdependency between the countries, countries around the globe established framework for transfer of resources. Global trade protocols were erected, to ensure transparent transference of resources. A global body, World Trade Organization (WTO), was established to monitor and administer the trade between the countries.

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Global Corporations

Businesses and organizations have spread beyond boundaries. This expansion has led to transfer of technology to less developed countries and better employment opportunities. Many giant corporations such as Shell, Microsoft, Unilever, P&G etc., are operating beyond borders. This has enabled them to cater huge population and make huge profits.

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Global Employment

With globalization, the employers have access to huge applicant pool. People with diverse educational background and work experience apply for the employment opportunity. For those candidates, who lack educational certificates can receive accredited life experience degree to be relevant in this aggravated competition for job employment.

Therefore, citizens of the planet Earth should understand the concept of globalization and act accordingly.

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