Globalisation

Business and Marketing
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8/11/2012
Business and Marketing
Across the globe, people started globalization when the idea of relocating to different parts of the world looking for business opportunities emerged. Since then, globalization has been steadily but surely growing. Considering the age of advancement that the world is in now, globalization has increased rapidly. However, as much as globalization has increased in scale and speed, it has had a different impact on different economies around the world. However, before assessing the different impacts that globalization has had on the economy, one must first understand, in detail, what globalization is, in order comprehend the effect it has had on the global economy. For globalization to exist, a few aspects must be put in consideration. First and most important, a business-based environment has to exist in all countries to bring about investors from different regions. With this in mind, globalization during this age and time seem to have increased due to a proper communication channel that have been realized due to the rapid speed in which technology has changed.
In many countries, globalization has affected the economy in different ways. While talking about the effects globalization has had on the economy of different countries, one has to look at both the positive and the negative effects. For instance, due to globalization, large organizations are able to invest their money in different countries around the world. This has led to job creations (Berch, 2005). This means that, through globalization, opportunities of job creation have risen. This is a positive effect that globalization has had on the economy (Joseph, 2006). However, as much as this is the case, globalization has also had a negative effect on the economy. Because of globalization, big organizations have been able to extend their reach among many different parts of the world. This in essence, means that, small or upcoming organizations that deal with the same product are effected since large companies dominate the market.
This has affected many companies, in that small companies are unable to keep up with the big companies hence leading to foreclosure and los...