Globalization Standard in Economics Assignment Help

Globalization Standard in Economics Assignment Help

Globalization Standard in Economics Assignment Help

Introduction

This globalization standard in economics assignment help,globalization is the standard of investment funds and businesses to move around the domestic and national market for development of country’s economy. Globalisation business provides the opportunity to the countries in order to develop the economy of the country. It removes the trade barriers among the different nations in order to provide the employment opportunities to the people of the country. Technology has also been the major factor that provides the growth to the globalization that helps UK to gain the global advantage for the markets of UK. UK is the developed country with the help of information technology country can get the opportunity to avail the demanded products to the customers. Globalization helps the country to improve the standard of living of the people in UK and also provides the opportunity to people of the country. Advancement in the information technology provides the opportunity to the country by which they can develop the market of the country. The report provides the impact of globalization the global market by that creates the boom in the market of UK. Globalization provides the opportunity to the set the quality standards in the country and also creates the hub of global business in the country. Globalization has improved the economic condition of the country and also provides the opportunity to the multinational organization to expand the business in different parts of the world. The report explains the existence of the global trade may provide the opportunity to the countries by which they can generate the revenue and also improves the relation among the nations.

Globalization increases the bonding among the nations and also assists the country to eradicate the poverty and provides the employment opportunity to the people of the country. The report reflects that the importance of globalization with the help of Anthony Gidden’s theory that innovation in technology assist the country to develop the new standards for the country. Globalization provides the opportunity to the country and improves the technological barriers in the country. It eradicates the problem of skilled labour in the country. The study implicates that the globalization is the biggest factor in the eradicating the poverty and also helps the country to equal distribution of the capital in the country.  

Discussion

Existence of globalization in today’s world

Yes, world is really global as we are being told it is and the ideas are being set to be global is working more effectively. Globalization plays crucial role in the growth of the organization and it also improves the financial capacity of the country. Globalization provides the platform to the country to do the trade beyond the boundaries of the country. Globalization has great guide, world-wide cross-cultural understanding and the valuable sharing of goods and ideas. It helps the country to provide the employment opportunities to the country men also avail the latest technology to the industries in order to serve quality product to the people. Globalization is generally used as a way of elaborating extend and jointers of information sharing, production and technologies across the world. Globalization helps the country to set the business in any part of the world and also allows the organization to share the resources with the other country in order to design the quality products (Hirst.et.al.2015). Globalization is the essence of connectivity in economic and cross cultural life across the world, has been getting the growth for centuries. For example Brands like Coca Cola, Sony and other big brands are focusing on the term globalization to earn more revenue and also want to set the business in the different parts of the world.

Globalization provides the brand image to the organization and also helps the country to provide the employment opportunities to the educated peoples in the country. Countries like India, Australia, UK etc are focusing on the 100% globalization in the country by which they can easily earn the desired profits. Globalization provides the way of competition among the countries. Globalization decreases the distance among the local buyer and the international seller. Any person from any country can easily do the trade from any part of the world. The buyer can convey the demand of the product in the all the parts of the world. Globalization may force the government to do the face to face contact with the buyer and seller and also helps them to give the financial assistance to the organization. One of the biggest example of the globalization is banking and retailing they are using the new technologies that helps the customer to remove the face to face interaction with the seller (Pieterse, 2015). Technological up-gradation is the biggest facility of the globalization in the country.

Globalization made the effective changes in the export and import era of the country. Globalization plays a vital role in the economic growth of UK. It helps the country to be in good condition and also creates the financial platform for the start-up business in the country. Globalization helps UK to create the good relation with the country and also help the country to reduce the international poverty. The main agenda of the globalization is to spread the technology in the economy of the country. It can be said that technology increases the revenue of the country and decreases the gap among the technology and industry. It will improve the efficiency of the industries to produce the quality products for the people. Globalization demolishes entire industries in developed countries like US automakers, Textile manufacturing etc. It helps to country to overcome barriers of trade among the nations and improve the financial analysis condition of the country. With help of globalization local business get the international platform for the expansion of the business. In developed countries like UK globalization is the best and effective way to provide the employment to the countries. Through internationalization businesses and investors get the wider chances for investment and also provide the opportunity to the unemployed people in the country (Kaplinsky, 2013). Consumers get the desired product with the help of globalization in the country.

Internationalization is best and effective way to get in touch with the people of different country. Technology has the power to implement the globalization in the country. Technological changes assist the country to get in touch with the all kind of people in the country. It is the interface of extraordinary technological ideas combined with world-wide touch that gives today’s change its exacting features. Development in the digital learning technology and other communication equipment make the world small and also helps the customers to order to desired product. Innovations like internet have made it possible to assess the information and resources across the different parts of the world. With the help of globalization the control of national governments over large forces may have been decreased in the current years. The growth of international organizations and globalization has the good impact that they can easily create the brand of the organization (Foster, 2012). It helps the country to eradicate the poverty from the country and provide the employment opportunities to the local people. It creates the brand image of the country and also helps the management set the global standard for the country under which each and every organization has to follow this kind of standards in the organization. Globalization provides the equal opportunities to the rich and poor which also provides the rights to all the people to take the initiative and set the business in the different parts of the country. So, it can be said that globalization made the business global and also provide the global standard to the countries.

Anthony Giddens ideas on globalisation

The accurate definition of globalization under practices and implementation is still unclosed and subject of debt. The complexity in between peoples to bundle them together under the same concept of globalization is typically difficult to achieve as strong public arguments in favour and against the globalization process and effects. Framework of technology, social behaviours, traditions and institutional structures needs consideration to incline at globalization support and inhibit. Gidden has analysed the globalization process as the fact to understand the sociological factors on incorporate functioning in favourable and sustaining conditions but also in political transformation, cross nation development and growth and cultural effects. Development of country in telecommunication technologies and integrated economic impacts on other counties in world are treated as favourable conditions for globalization. Gidden has defined the dynamic modelling to make integral connection and support to concept of globalization because globalization exists all over the world (Chakraborty, 2015). It is another thing that somewhere it is less effective and immeasurable under constraints.

Over the time actual impact and implementation of Giddens theory has lost. Organizations started to take globalization as the matter of figures and capital based transactions which was the major reason behind the financial crisis of 2008. Globalization process is just not a study point of figures and benefits but it related its dimension in daily life of everyone. The crisis made it clear that we have not analysed the globalization in depth because economic dimensions of globalization process are not resultant of statics in sheets. Giddens who was the director of London School of Economic and former advisor of Tony Blair has defined globalization process as the strengthening of worldwide social relations which link distant localities in such a manner that local events are designed accordingly to the events those are being held at too far. This is also same for the distant locations those are making implications of local events to make improvements (Chandler and Werther, 2013). In this manner, Giddens had defined the influence of changing relations and prospectus in world on individual’s life.

Giddens has analysed globalization process as the mechanism of development which can initiate improvements in behaviour of modern societies. The process is sometime varied, opposing and tendentious. With some major advantages of globalization, we cannot neglect demerits associated with it in form of uneven development of society and financial and economical risk. However, the effect is varied on various societies and society members which make it difficult to generalise the overall effect of globalization. Globalization influence personal lives, firm structures and operations of society which is hierarchical in structure. Individual’s influence reflects on society structure which further influence local business and their chains spread in other countries. At other side, peoples those are part of organization has influence in term of social status and living quality with time they spent in services of organization. In order to achieve global objectives of employees and affected peoples, organization also forms global chain of business in transnational locations (Gabe and Almeida, 2015). The impact of globalization cannot be eliminated and can be visualised in short or long time period relations.

Giddens also has described four dimensions of globalization process which are: nation states, world military order, world economy and international division of labour. These four dimensions represent the inter relationship of individual’s perspective and quality of life in corporate world along with sustainable growth and accomplishment of objectives. People’s life gets improvements with the innovations in goods and services. Also the contribution of people towards the globalization dimensions helps to generate more values in public interest or quality of life. Giddens also has identified globalization as the process of acquiring new talents and skills over the time and to transform them into another profession. Profession context is being normal in globalization process and leading individualism towards the professionalism. The leading use of digitalization has pushed the world toward digital globalization but it is alarmed to computer threads (McGrew and Lewis, 2013). Al though still world is safe from the warnings of threads as suggested by Giddens. Health issues are also taken into considerations because globalization process is resulting in social disorientations. The upcoming alarms of similarities in diseases in world are riding on globalization. 

Gidden also has noticed the reduced strength of nation states in comparison of growth of transnational corporation development. Major reason behind the risk is unevenness of societies. The influenced country became unable to sustain in market with economic weaknesses. For instance, public dissatisfaction with politician perceptions is just one of illustrative result of impact. Globalization addresses the weaknesses on personal life by mapping them to weaker accessibility with new knowledge and technology required to reinforce feedback loop. The demerits and barriers of globalization process may occur in form of economic difference and control of governmental bodies in a country. It also derived the influences of social management structure and market opportunities for to set up globalization in country. There are number of risk associated with nation states globalization dimension. For instance, it is difficult and impractical to achieve sustainable results from nation states in favour of life quality and personal objectives. Giddens has clarified the relation among four core branches of globalization to remark the issues and benefits those may be delivered from globalization along with interrelationship among growth of dimensions in corporate (McMichael, 2013).  Time tag and delay plays an important role to decide the growth of country with globalization by measuring each dimension separate with social and economical constraints.

Globalization has benefits for developing countries as well as for developed countries because both get chances to enhance the economic strength and social empowerment. Employments and reimplementation of professional knowledge are key advantages for countries hosting globalization in practices. These advantages are in term that country gets new opportunities to empower peoples and to establish the connection with global market to encourage professionalism in business. It improves living standards of people in country. Globalization also brings some demerits those must be considered before to dive into race of improved economic status (Meyfroidt.et.al.2013).

Need of globalisation to end poverty

Globalization has its own dimensions of benefits and delimits in world. Globalization seems to be a solution for the peoples living under the poverty line in developing country where it can bring the use in form of employment and trade free businesses. This is required to make use of already available economic power for the better tomorrow where wealth is assumed to be distributed among all peoples and no one will be to state as poor. End of poverty is not an accident for entire world; it is result of benefit based marketing and improper integration of countries to achieve market advantages. Resultantly, some of people have a huge amount of capital whereas many of us are suffering from poverty (Newell, P., 2013). Man made poverty can be eliminated with end of poverty movement and trade no aid contrary discussion. Hunger and improper distribution of capital can be conqueror with some constraints to make poverty history for developing countries.

In comparison of UK like developed countries, developing countries are somehow distinct in implementation because on portion of country is going to be more globalised and richer to meet the requirements but others are still lacking feature to encourage their lives. Only the growth of leading bodies in countries cannot be defined as wining on poverty and flag of developed country. Therefore, individual needs to be added to the development of country so that fight against poverty can be mapped to globalization of country. Globalization has great impact on social and economic factors of county. However, the debt is as always unreached to a destination but pops out major points those can deliver the results to accept the globalization to meet county wide situations. Some of developing countries are participating in end of poverty movement and making advantages to stand against the poverty as previous two decades are evidence to prove the effectiveness of globalization in some countries. Exceptionally some countries have not received the equal benefits of globalization in race and feeling poverty and mitigation in progress (Papastergiadis, 2013). UK is already developed country and needs a less but essential considerations to globalization process.

The whole magic of globalization in UK like developed countries can be understand with the study of three facts which determines the role of globalization clearly in present situations. Employment level in country is one of useful factor to identify the role performed by globalization to win the poverty. For instance, higher the employment rate describes the more globalization of local business and services to worldwide market. Increasing involvement of trades for not aid level is required to make the business global and in favour of local peoples so that benefit and economic strengths can be returned to same business for more returns towards the development of country. Later inequality in capital distribution is at core to discuss the importance of globalization to enhance the opportunities of trade and foreign direct investments. Third one to make note on poverty alleviation with increasing trades (Pieterse, 2015).

From previous two decades it has been observed that employment has been raised with new windows to industries as free trading and no aid of trades has empowered the businesses to make their contribution overseas. The final return of businesses is being input for other developments in country. Employment in UK has great impact of globalization as employments has increased only in some sectors and overall advantage of globalization is distributed in sector where many of other developing countries like China and Bangladesh. Establishing of new firms and industries in country has increased the employment but for other countries those are developed has lost in employment rate as most of work is handled to automation process.

Free trading and foreign development investors has increased the demand of low cost employees which has put countries in competitive market and henceforth unemployment forced people to accept the changes (Willis and Pearce, 2015). The result of low wage employment and low skill set in industries has encourages the improper distribution of capital in country wide. For instance, unskilled employees at workplace are valuable in comparison of skilled employee in Mexico. Therefore, the unequal wage distribution and employment security is leading more employee turnover and compensations. Globalization has advantages to deal with unequal capital distribution countrywide as it provides the facility to grow independently to achieve economic and social values. Increasing trade in developed countries are making impression on quality services to sustain in market whereas developing countries are getting advantages to make money with employments. However, labour prices and efforts are different in various countries due to globalization but still effective to alleviation the poverty (McMichael, 2013). The positivity of globalization is difficult to measure with rapid changes in economic and social market but it seems useful for upcoming few decades to bring most of peoples over poverty definition.

Conclusion

The current report explains the existence of the globalization in the country it also assess the impact of the global factors on the economy of the UK. Globalization plays crucial role in the market of the UK that affects the standard of living of the people in the country. With the help of globalization a country can maintain the relation with the other country and also invite the countries for investment by allowing FDI in the country. Global market provides the opportunity to the countries by which any business in any part of the world. The study explains that globalization helps the country to eradicate the poverty from the country and also provide the employment opportunities to the people of the country. Technology is the biggest factor in the growth of globalization that provides the platform to the local in order to get in touch with the seller in another part of the world. Multinational organizations like Coca Cola, Mc Donald’s etc are the biggest example of globalization in the country. The report explains the social factors that are being solved with the help of globalization in the country like poverty, standard of living, employment to the local people etc. Globalization is the biggest contributor of the technological advancement in the country. It creates awareness in country about latest technological advancement in the world and tries to bring them in UK.

Reference

  • Chakraborty, P., 2015. Globalisation and its Resistance: A Study of Gabriel García Márquez's One Hundred Years of Solitude. Motifs: An International Journal of English Studies1(2), pp.80-85.
  • Chandler, D. and Werther Jr, W.B., 2013. Strategic corporate social responsibility: Stakeholders, globalization, and sustainable value creation. Sage Publications.
  • Foster, R.J., 2012. Coca?Globalization. John Wiley & Sons, Ltd.
  • Gabe, J. and Almeida, J., 2015. Anthony Giddens: Structuration, Drug Use, Food Choice and Long-Term Illness. In The Palgrave Handbook of Social Theory in Health, Illness and Medicine (pp. 424-438). Palgrave Macmillan UK.
  • Hirst, P., Thompson, G. and Bromley, S., 2015. Globalization in question. John Wiley & Sons.
  • Kaplinsky, R., 2013. Globalization, poverty and inequality: Between a rock and a hard place. John Wiley & Sons.
  • McGrew, A.G. and Lewis, P. eds., 2013. Global politics: globalization and the nation-state. John Wiley & Sons.
  • McMichael, A.J., 2013. Globalization, climate change, and human health.New England Journal of Medicine368(14), pp.1335-1343.
  • Meyfroidt, P., Lambin, E.F., Erb, K.H. and Hertel, T.W., 2013. Globalization of land use: distant drivers of land change and geographic displacement of land use. Current Opinion in Environmental Sustainability5(5), pp.438-444.

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