Term Paper: The Impact of globalization

Sample Term Paper

Globalization is usually considered as a novel idea and it is a phenomenon which the world is embracing. There are different positive effects of globalization and it is extremely beneficial for everyone in all the countries. The advantages of globalization are listed below:

• The element of globalization forces the organizations and different businesses to compete on a global scale. The consumer on the other hand gains an advantage because of this and businesses are unable to control and monopolize the businesses because politicians and governments are there to control it.
• Countries would specialize their specific sectors in which they are competitive and it is not necessary that all the manufacturing element would be done by Americans and Germans because if the Chinese are good at it and they offer lower rates then the manufacturing would be done by the Chinese.
• Because of globalization consumers are the real winner and the consumers have the choice to buy good where they are cheap and they are not bound to buy the products of the their native land. In this scenario the consumers can get the best products at the best price and they can buy products even from China and India.
• The element of prosperity is shared by everyone and before the concept of globalization China and India were poor countries and their standard of living were not good but after the globalization factor both the countries experience enormous growth and economic booms are experienced by both the countries (Peterson & Bigelow, 2002). The most important fact is the consumer side that besides countries and manufacturers the customers are benefitting from the low cost and high quality products.

These positive effects of globalization help the consumers and the manufacturers in both the short and the long run. The movement of globalization is pro-prosperity, anti-poverty and pro-free trade. This phenomenon of globalization is helping the developing world to raise the standard of living and both developing and developed countries are benefitting from this approach.

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