How Do We Make Globalization More Just.docx

How do we make globalization more just? Globalization is the process of growing, developing and expanding the business, services or technologies all through the world. It is the expansion of various businesses to the global markets throughout the world. It requires huge international investment to develop large multinational corporations for the worldwide economic integration. It is to increase the connectivity and interdependence of the businesses in the worldwide markets. In the last few decades, globalization has taken the form of technological advancement which resulted in easier travel, communication, and other businesses on international level for the people. How is the state affected by globalization? How is the nation affected by globalization? Do those institutions nation/concept relevant? This has diminished their capacity to meet these obligations. Sovereignty is the absolute authority over a certain territory. Many commentators would agree that this absolute authority has been challenged by a number of forces operating beyond the nation state; from the threat of global terrorism to the challenges of climate change, the powers of international organizations to influence of the global market. Given the impact of the global financial crisis on the national economic policy, I want to explore the ways in which capitalism has changed the nature of state sovereignty. The most important strand, perhaps, is that it is no more only an economic idea. Today, the term globalization has socio-political interpretations as well. In that context, it is seen as a diluting agent for nationalistic interests and identities. The unification globalization proposes and thrives on, is seen as a cause of alarm in a socio-political arena. The unrest we are seeing across the EU and America is but a sign of the definite discomfort with the idea – Brexit being one of the most vocal call yet for deglobalization. The goal of globalization is to provide organizations a superior competitive position with lower operating costs, to gain greater numbers of products, services and consumers. This approach to competition is gained via diversification of resources, the creation and development of new investment opportunities by opening up additional markets, and accessing new raw materials and resources. Diversification of resources is a business strategy that increases the variety of business products and services within various organizations. Diversification strengthens institutions by lowering organizational risk factors, spreading interests in different areas, taking advantage of market o

How do we make globalization more just? The wave of globalization since the Second World War has created more opportunities for the people of the world than at any time previously and has lifted more people out of poverty globally than at any other time in history. Life expectancy is rising and literacy levels have never been higher. This is true for both advanced and less advanced economies. There is no doubt that the world today is a much better place than before. Globalization has provided present generations with more possibilities than that of their parents–my own included. And the future too looks bright for the vast majority of the global population. How is the state affected by globalization? The social contract now has a strong welfare element to it. Yet, simultaneously, economic integration has limited the range of policy options available to states. This has diminished their capacity to meet these obligations. Sovereignty is the absolute authority over a certain territory. Many commentators would agree that this absolute authority has been challenged by a number of forces operating beyond the nation state; from the threat of global terrorism to the challenges of climate change, the powers of international organizations to influence of the global market. How is the nation affected by globalization? Globalization compels businesses to adapt to different strategies based on new ideological trends that try to balance rights and interests of both the individual and the community as a whole. This change enables businesses to compete worldwide and also signifies a dramatic change for business leaders, labor and management by legitimately accepting the participation of workers and government in developing and implementing company policies and strategies. Risk reduction via diversification can be accomplished through company involvement with international financial institutions and partnering with both local and multinational businesses. Do those institutions nation/concept relevant? Globalization is an ongoing process, not a completed condition. Against the grand tapestry of history, it has arguably just started. It has grown from a purely economic or technological concept and now implies evolutionary change on a cultural dimension as well. Information communicated through modern print and electronic media is not just affecting commerce, but shaping world-views, relations inside families, and attitudes of citizens to the state. The process, however, has still not significantly touched an extraordinary proportion of humanity and hence has not yet truly earned its title, globalization opportunities, and acquiring companies both horizontal and vertical in nature.