- Globalization is defined as the increasing process of interdependence and interconnected between different political, social and economic components of the world. It is the way in which the world is seen as the global village.
- Globalization is the free movement of goods, services and people across the world in a seamless and integrated manner.
- The process by which businesses or other organizations develop international influence or start operating on an international scale.
Features of Globalization
- Opening and planning to expand business throughout the world.
- Erasing the differences between domestic market and foreign.
- Buying and selling goods and services from/to any country in the world.
- Global orientation in strategies, organization structure,organization culture and managerial expertise.
- Setting the mind and attitude to view the entire globe as a single market.
- Sourcing factors of production and inputs like raw materials,machinery,finance,technology,human resource,and management skills from the entire globe.
- Production planning and development are based on market consideration of the entire world.
Economic globalization is the intensification and stretching of economic interrelations around the globe.It encompasses such things as the emergence of a new global economic order, the internationalization of trade and finance, the changing power of transnational corporations, and the enhanced role of international economic institutions. Economic globalism involves long-distance flows of goods, services and capital and the information and perceptions that accompany market exchange. Globalization is composed of two sub- processes from economic dimension: the first one is the merging of distinct and isolated parts of global system which includes the spread of active forces and capital all over the world. Free trade agreements are the main part of this process due to the fact that they make legislation that facilitates the flow of work and capital. The second process is development of communication including telecommunication, Internet etc. which facilitate the flow of labor and capital. The agreement on free trade is the main part of this process due to the fact that they make some regulations, which facilitate the flow of labor and capital. The second process is the development of communications including telecommunication, Internet etc. that all facilitate the intra-national and international relations. Multifaceted trade agreements such as The General Tariff And Trade (GATT) negotiation have led to the formation and construction of World Trade Organization. In economic dimension, one of the fundamental goals of globalization is the destruction of economic borders and removal of legal barriers and creation of free market system in a way that make the capitals flow freely. The other point in economic dimension of globalization is the removal of custom duties’ barriers and globalization of competitions.
Political globalization is the intensification and expansion of political interrelations around the globe. Aspects of political globalization include the modern-nation state system and its changing place in today’s world, the role of global governance, and the direction of our global political systems. Another important aspect of globalization is politics. Political globalization refers to the accumulation of power in a single international government. Just as families once combined into tribes and tribes into nations, so nations are combining into regional power blocs, and thence perhaps to a single world political community.
While the idea is rather overwhelming, there is no denial that it is happening. Over the past several years, many international organizations have evolved and the United Nations is probably the most renowned one today. Although the main objective of the United Nations is to work towards achieving peace between different nations, it is also working to achieving other development goals. This coming together of different countries can be an effective solution for global peace. With member from 185 countries, the United Nations is a prime example of a diplomatic global village (Buckley, 1998, P.51). Delegations from each country come to an agreement about rules and policies, and tend to have fewer conflicts. This can benefit the developing countries greatly because they are the ones who are at risk of being invaded and taken advantages of. Other than achieving peace, political globalization can be a platform to solve issues be it education, poverty, environment, or organized crime.
Cultural globalization is the intensification and expansion of cultural flows across the globe. Culture is a very broad concept and has many facets, but in the discussion on globalization, Steger means it to refer to “the symbolic construction, articulation, and dissemination of meaning.” Topics under this heading include discussion about the development of a global culture, or lack thereof, the role of the media in shaping our identities and desires, and the globalization of languages. Globalization has allowed for the spread of customs, language and products. Globalization has allowed for people to be able to attain goods and services not previously available. You can find Coca-Cola, McDonalds and KFC in most major cities throughout the world. Globalization has allowed people to become familiar with the culture of other countries allowing for a greater understanding. While globalization opens doors it also leads to blending of cultures and the deterioration of unique cultural differences. The negatives of globalization include gap between rich and poor, reduction in individual sovereignty of a nation, environmental pollution and susceptibility of all parts of the world suffering with recession in other countries.
Topics of ecological globalization include population growth, access to food, worldwide reduction in biodiversity, the gap between rich and poor as well as between the global North and global South, human-induced climate change, and global environmental degradation. Activists have pointed out that globalization has led to an increase in the consumption of products, which has impacted the ecological cycle. Increased consumption leads to an increase in the production of goods, which in turn puts stress on the environment. Globalization has also led to an increase in the transportation of raw materials and food from one place to another. Earlier, people used to consume locally-grown food, but with globalization, people consume products that have been developed in foreign countries. The amount of fuel that is consumed in transporting these products has led to an increase in the pollution levels in the environment. It has also led to several other environmental concerns such as noise pollution and landscape intrusion. Transportation has also put a strain on the non-renewable sources of energy, such as gasoline. The gases that are emitted from the aircraft have led to the depletion of the ozone layer apart from increasing the greenhouse effect. The industrial waste that is generated as a result of production has been laden on ships and dumped in oceans. This has killed many underwater organisms and has deposited many harmful chemicals in the ocean. Due to globalization and industrialization, various chemicals have been thrown into the soil which have resulted into the growth of many noxious weeds and plants. This toxic waste has caused a lot of damage to plants by interfering in their genetic makeup.