How has globalization affected different world regions? What are some of the benefits and costs of globalization for different sectors of society (companies, workers, communities)?
Globalization means expanding business on a world-wide level, especially now with the internet and trade options. It is much easier now for companies to have competition on an international scale. Globalization is also making companies increase their competitive advantage and lower their operating costs, making them produce more diverse products and expanding their market share in different fields. Some economists say that globalization is beneficial for companies, others say it only benefits the stronger businesses and countries and leaves the smaller and poorer countries behind, making their business and trade even less than before. It has a negative point also that it puts domestic industries in some country in danger due to advantages of the same industry in other countries, because small companies are not able to compete with the bigger ones and usually fail when they try. Globalization has many benefits, some of them are increasing communication and transport improvement by reducing the barriers between countries, increased free trade, movement of labor, growth of multinational companies, and many more.
Globalization urges organizations to adjust to various systems in light of new ideological patterns that attempt to adjust rights and interests of both the individual and the group overall. This change empowers organizations to contend worldwide and furthermore means a sensational change for business pioneers, work and administration by authentically tolerating the support of specialists and government in creating and executing organization approaches and systems. Hazard lessening by means of broadening can be proficient through organization association with global money related foundations and banding together with both neighborhood and multinational organizations.
Creation is progressively specific. Globalization empowers merchandise to be delivered in various parts of the world. This more noteworthy specialization empowers bring down normal expenses and lower costs for customers.