Examine the Concept of Globalisation and What Impact It’s Having on Lesser Developed Nations.
Introduction
As organisations wish to move out of their domestic market and compete on the international stage they are faced with very differing business arenas. Different nations can vary greatly in relation to consumer behaviour, language, law, infrastructure, education and distribution structures. For companies to be successful, the way in which they deal with the tensions abroad is vital. (de Wit and Meyer, 2010). As these businesses compete on the world stage there can be some effects concerning peoples health, education and you can easily notice the inequal distribution of wealth, education and expectations of life throughout the world.
Within this assignment I’m going to examine the theory surrounding globalisation and also its impact on local/national economies in lesser developed nations i.e. The third world.
Definition of Globalisation
Gunter and Hoeven (2004) suggest that globalisation is the integration of economies and societies causing increasing homogenisation of the world population and the markets. The main drivers of globalisation have been the introduction of new technologies allowing for increased communication, transport, travel, new economic relationships and the actions of governments and international organisations.
Others propose globalization as being the efforts of the International Monetary Fund (IMF), the World Bank and others to create a global free market for goods and services largely as a result of deregulation and improved communications
(http://www.infed.org)
Concepts of Globalisation
Jeffrey Hart suggests that globalisation has five key concepts which it could not operate without. He lists these concepts as follows:
• The existence of a global infrastructure as in the existence of a worldwide connection of communication networks that make information available to users e.g. computers, satellites.
• The harmonisation of some important characteristic feature such as the alignment of systems of pay and benefits.
•
As organisations wish to move out of their domestic market and compete on the international stage they are faced with very differing business arenas. Different nations can vary greatly in relation to consumer behaviour, language, law, infrastructure, education and distribution structures. For companies to be successful, the way in which they deal with the tensions abroad is vital. (de Wit and Meyer, 2010). As these businesses compete on the world stage there can be some effects concerning peoples health, education and you can easily notice the inequal distribution of wealth, education and expectations of life throughout the world.
Within this assignment I’m going to examine the theory surrounding globalisation and also its impact on local/national economies in lesser developed nations i.e. The third world.
Definition of Globalisation
Gunter and Hoeven (2004) suggest that globalisation is the integration of economies and societies causing increasing homogenisation of the world population and the markets. The main drivers of globalisation have been the introduction of new technologies allowing for increased communication, transport, travel, new economic relationships and the actions of governments and international organisations.
Others propose globalization as being the efforts of the International Monetary Fund (IMF), the World Bank and others to create a global free market for goods and services largely as a result of deregulation and improved communications
(http://www.infed.org)
Concepts of Globalisation
Jeffrey Hart suggests that globalisation has five key concepts which it could not operate without. He lists these concepts as follows:
• The existence of a global infrastructure as in the existence of a worldwide connection of communication networks that make information available to users e.g. computers, satellites.
• The harmonisation of some important characteristic feature such as the alignment of systems of pay and benefits.
•
References: Chandrasekaran Balakrishnan (2004) Impact of Globalisation on Developing Countries and India. [online] Available: Culture de Wit, B and Meyer, R (2010) Strategy: Process, Content and Context, - An International Perspective, 4th Ed. pg. 554-63 Dilip Ratha, Sanket Mohapatra, and Ani Silwal (2009) Migration and Development Brief: Fred W. Riggs (2000) Globalisation key concepts [online] Available: http://www2.hawaii.edu/~fredr/glocon.htm. last accessed: 28/11/2010. Henk BM Hilderink. (2005) The health impacts of globalisation: a conceptual framework. [online] Available: http://www.globalizationandhealth.com/content/1/1/14. last accessed: 28/11/2010. Itai Madamombe. (2006) African expatriates look homeward. [online] Available: http://www.un.org/ecosocdev/geninfo/afrec/vol20no3/203-expatriates.html. last accessed: 28/11/2010. Nana K. Poku. (2007) Governing Globalisation. Chapter 5 P111-125. Peit (2009) Economic Impact of Globalization on China 's Economy. [online] Available: http://www.bukisa.com/articles/92710_economic-impact-of-globalization-on-chinas-economy. last accessed: 28/11/2010. ‘Sinister Nexus’ of Drugs, Crime, Terrorism Must Be Countered by Promoting Health, Justice, Security, Third Committee Told. (2009) [online] Available: http://www.un.org/News/Press/docs/2009/gashc3947.doc.htm. last accessed: 28/11/2010. Smith, M. K. and Doyle M. (2002) Globalization the encyclopedia of informal education, [online] Available: www.infed.org/biblio/globalization.htm. last accessed: 28/11/2010. Peit (2009) Economic Impact of Globalization on China 's Economy. [online] Available: http://www.bukisa.com/articles/92710_economic-impact-of-globalization-on-chinas-economy. last accessed: 28/11/2010.