is such a wider term whose definition is so diverse. This is so sincevarious people describe it according to the situation and point ofview. Sociologists, economists, culturists and politicians have theirown way of defining this term. Generally, globalization can bedefined as thesocietal, financial, cultural and political alterationsof the globe in the past more than five decades (Beaverstock,2008).This change was enhanced by the technical transformation to thedwindling of the national and topographical-political margins in anescalatingtransnational drive of goods and services as wellasinvestment.It can as well be put simply as the amalgamation ofmarkets, economics and technology in a manner that shrivels the worldto a small size from a medium size. As stated earlier in this essay,no single precise definition of globalization exists.
Thereare four dimensions of globalization. Each and every dimension hasits own role in the integration of markets, geopolitical and finance. The four dimensions of globalization are social or cultural,economic, environmental/ecological and political/military. Economicglobalization includes the movement of commodities and services at aprotracted distance as well as info and insights that integratebazaar exchange (Beaverstock,2008).Environmental or ecological globalization involves the conveyance ofresources in the air, water or of organic matter at a long distance. that involves long distance systems in which potentialof power and intimidation are used is referred to as military orpolitical globalism. The last dimension of globalization issocial-cultural globalism. This dimension of globalization includesthe flows of philosophies, phantasmagorias, info, as well as peoplewho transport these philosophies and info with them at a longdistance (Jovanovich,2010).Nowadays, social-cultural globalism is propelled by the advancedtechnology such as Internet unlike in the past where technology wasnot so advanced (Guttal,2007).
is driven by many factors as well as forces. Some of these forces areworldwide reduction of tariffs, market liberalization, economicintegration and advances in technology. When it comes to the force ofworldwide reduction tariffs, market liberalization and economicintegration, this is basically globalization of finance. This is theaggregate nationalization of ordinary markets across the world wideintegration of capital movements. These movements sequentially,establish other practicesrelated to them. This is well seen in thelow fabrication of wage in Asia for the U.S and European markets aswell as other multinational businesses (Beaverstock,2008).This is basically economic movements thus a drive of economicglobalism. Advance in technology is well seen in social-culturalglobalism. In the ancient times, communication and passage of ideasas well as ideologies were done through the military or politicalglobalization. With the advancement of technology, ideas andinformation are conveyed through modernized means such as Internet aswell as media. This has driven globalization in a great way.
has its own effects on the community as well as multinational firms.When it comes to ecological globalization, there has been experiencein increase of population thus making access of social amenities sohard. This is a negative toll on developing countries. Each andevery dimension of globalization has a consequence on either thesociety or business firms.has developed globalculture thus leading to globalization of languages. Due toglobalization, it is now easier for people and ideas of differentcommunities to move from one place to another (Jovanovich,2010). has s well effects on business firms. There is newworldwide economic order, internationalization of business andeconomics which has led to improved role of transnational businessfirms (Guttal,2007).
Tomy opinion, globalization is a societal, financial, cultural andpolitical alterations of the globe in the past more than fivedecades. This change was enhanced by the technical transformation tothe dwindling of the national and topographical-political margins inan escalating transnational drive of goods and services as wellascapital. has led to advancement as well as increasein cost of living, may it be socially or economically. This can wellbe seen in the widened gap between the poor and the rich, increase infatal illness especially to the developing countries. This means thatglobalization is a continuing syndrome. There is an ongoing unevendevelopment in the world. This is so well seen in the areas whereothers are dying of mere hunger, others are having more than enoughto feed on. In my opinion, globalization has both advantages anddisadvantages to the globe. On the other hand economists definesglobalization in a constrictedlogic, where it includes integration of local economy with the globaleconomy through business, imported directasset, investment movements,migration as well as theextent of technology (Jovanovich, 2010). Theauthor is asking if globalization is taking us for a ride. Heexplains how people have worshipped globalization thus overlookingits dire consequences to other people especially developing nations.
Beaverstock,J. R. (2008). :Interconnected World.Retrieved from: http://www.sagepub.com/upmdata2413219HollwayCh19.pdf[Accessed on September 13, 2014].
Guttal,S. (2007). .Taylor& Francis ltd,17.Retrievedfrom: http://mongolianmind.com/wp-content/uploads/2012/10/Globalisation-transnational-corporations-as-institutions-of-global-capitalism-2007.pdf[Accessed on September 13, 2014].
Jovanovich,M. N. (September, 2010). Is globalization taking us for a ride?Journalof Economic Integration.Retrieved from:http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1683328[Accessed on September 13, 2014].