The Many Benefits of Globalization Essays - 1009 Words

â€Å"Globalization is not just one impact of the new technologies that are reshaping the economies of the third millennium† (Thurow 19-31). When speaking of globalization, most people will not have a complete understanding as of what it actually means or what aspects of the world it affects. Globalization promotes free trade and creates jobs. The capital markets attract investors, resort cheap labor, and leads to job losses in some areas of higher wage. While all of this is happening, the world economy is being effected: economically, culturally, socially, and politically. It is known that the economy is definitely effected by globalization, but not always in a negative way. In a sense, the world revolves around some situations dealing†¦show more content†¦Trade, foreign direct investment, and financial capital are three positive effects of the global economy. An example of economic globalization is, when major trades of goods are being transported from country to country. Some practices made by large transnational corporations have a negative effect. With the lowering of market costs, global scope, brand image consistency, quick and efficient use of ideas, and uniformity in marketing practices, globalization can be have a beneficial effect. In brief, the global spread of some values, beliefs and practices have negative and positive effects on the people and their cultures. The economy is not the only area effected by globalization. Cultural globalization is also of critical importance. It is spread through the media, books, and even through the news. Since world news and information are often shared across countries, it is a sign of merging cultures through entertainment and media technology. The fact that television shows like South Park and Arthur are shown in multiple countries; shows that the cultures are becoming globalized. Globalization disturbs the way we conceptualize culture and in a sense, culture is an intrinsic aspect of the whole process of complex connectivity, therefore globalization matters to culture in the sense that it brings the negotiation of cultural experiences into the center of strategies for intervention in the other realms of connectivity: theShow MoreRelatedEssay on Nations Should Promote Localization, Not Globalization1278 Words   |  6 PagesLevis blue jeans and T-shirts, many of which have English logos writ ten on them. The tourist may have then gotten into the car to go back to the hotel or friends house, turned on the radio, only to hear their favorite American songs being played. Later on after dinner, they may have turned on the television and seen an old rerun of Baywatch or The Simpsons dubbed into another language. These are all American things. How could they be in a foreign country? Globalization (or Integration), a processRead More The Disadvantages of Globalization1567 Words   |  7 Pages Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participat ion in aRead MoreGlobalization Perpetuates Economic Interdependence between Countries993 Words   |  4 PagesGlobalization perpetuates economic interdependence between countries. Through the increasing volume of goods and services transferred across borders, globalization has created international capital flow and boosted the rapid diffusion of technology. According to Dr. Ismail Shariff, â€Å"globalization is the worldwide process of homogenizing prices, products, wages, rates of interest and profit.† Three forces control the manner by which globalization furthers developments. These factors include the roleRead MoreGlobalization : What Is Globalization?871 Words   |  4 PagesWhat is Globalization? In order for my readers to fully understand the objective of this paper, I first need to make clear what globalization actually means, not just with the NFL, but to society in general. In society today, you hear the word â€Å"globalization† thrown around, but what does it actually mean? I looked to many sources and there were many different definitions. One source had a definition that really seemed to me to be the best description of globalization, particularly for the purposesRead MoreEssay Nations Should Promote Globalization, Not Localization1078 Words   |  5 PagesGlobalization and localization are two conflicting trends in international politics today. Globalization is the spread of peoples, activities, norms, ideas, goods, services, and currencies from one area of the world to another. (Rosenau 15) Localization is the narrowing of horizons and the confinement of peoples, activities, norms, ideas, goods, services, and currencies to a particular geographic area. (Rosenau 16) Globalization and localization affect the world’s countries in three main areas, politicsRead MorePositive and Negative Impacts of Globalization1256 Words   |  5 PagesGlobalization Globalization Arguments Favoring Globalization This essay discusses the positive and negative impacts of globalization. Because people are more connected globally than ever before, the process of globalization continues, creating sweeping economic changes. Inevitably, some people and some countries will benefit from globalization, and others will suffer from its effects. This essay discusses those effects. Globalization describes the increasing economic integration that occursRead MoreGlobalization Essay1402 Words   |  6 PagesA case for globalization Globalization is an inescapable factor in the global economy today. Its effects can be felt throughout the world in industrialized and developing nations alike. The â€Å"process of globalization is so pervasive that it affects all businesses,† (Lawrence Weber, 2014, p. 71). The benefits of globalization are apparent to organizations and nations such as reduction in poverty and benefits to consumers. But globalization must be properly balanced with a covential pledge to careRead MoreAbstract. This Paper Will Discuss The Benefits And Drawbacks1720 Words   |  7 PagesAbstract This paper will discuss the benefits and drawbacks from the point of view that globalization made in the developing countries in the three important fields such as economic and trade processes, education and health systems and culture effects. It is consists of four paragraphs. In paragraph one, the benefits and detriment of globalization in the economic and trade processes field will be discussed. Then, in paragraph two, the impact of globalization on education and health systems in bothRead MoreThe Drawbacks Of Globalization920 Words   |  4 PagesYou either hate it or you love it. Globalization. Has its benefits and has its drawbacks. Do the benefits overturn the drawbacks? Benefits include the spread of new culture, jobs, diversity, as well as careers. It improves the global economy, expands knowledge of foreign cultures, and free trade equals a happy economy. Drawbacks of globalization include, taking jobs away from locals, people move country to country wherever they can make the most money and leave the poorer countries which in turnRead MoreGlobalization s Effect On The State s Strength And Weakness938 Words   |  4 Pagescompanies, organizations and governments is known as Globalization which effects not only how the world interacts with each other but how nations develop or cease to develop. In Martin Wolf’s â€Å"Will the Nation-Sate Survive Globalization?† Wolf explains the advances all over the world, which has brought us to where we are today, because of globalization. However, Wolf argues that just because nations are changing and advancing due to globalization, doesn’t mean states have become weaker or less important

Use Of Power And Rationality On Strategic Decisions

Strategy is a crucial element in the context of an organisation’s or firm’s mission. The question is to what extent is strategy influenced by power and rationality and how does the strategic decision-making come into play when deciding about long run strategy-making. In the following, I will apply strategy models and theories to the scenarios of the film ‘Apollo 13’ (1995) in order to evaluate how the strategy-making is affected by strategic decisions and vice versa. Therefore, I will consider the influence of power and rationality on strategic decisions in relation to the resulting outcome. To start with, I will analyse the scenario planning process, its relation to risk management and the resulting issue of recursive and adaptive†¦show more content†¦Therefore, scenario planning can be used as a tool to analyse the feasibility of a plan and evaluate how realistic it is to achieve set objectives as a part of the mission (Schoemaker, 1995). Applying this practice of scenario planning to the procedures in ‘Apollo 13’, one can observe a similar approach, as the astronauts use a simulation programme to prepare for their mission and the issues that may affect the procedures, such as pressure, temperature and technical difficulties. For the simulation to be as realistic as possible, the crew members ensure that the conditions in the simulator are exactly how they would expect them be or at least as close as to how they would expect them in space (‘Apollo 13’, 1995). One possible reason for this could be that according to Schoemaker (1995, p.26), the simulation of a scenario is a ‘distorted representation’ which means that as it is used to simplify actual issues it tends to exclude essential issues that may arise as a result of under- or over prediction of a specific scenario. Hence, the truthfulness of the simulation outcome is not necessarily reliable for the actual process as unforeseen circumstances may occur without previous warning such as the sudden explosion of the oxygen tank in our movie example. Since the crew was not prepared for this problem to arise as no previous scenario included the emergence of this problem, it underlines the limitations associated with the

Globalization and Labor Market- Free-Samples -Myassignmenthelp.com

Question: Discuss about the Human Resource Planning on the challenges to Labor demand and supply that poses a threat by Globalization. Answer: Introduction Globalization is dominating the world and is somewhat inevitable in the current market scenario, global economy constitutes of both national and international economic institution. Globalization is channeled to labor market in various ways. Among them, one of the ways is affecting tremendously the labor demand and supply. Due to increased competition on the output market, there might be slight increase in the elasticity of labor demand via scale effect or substitution effect where a firm expands its productivity and want to set additional input. Scenario planning determines and distinguishes between long-term trend and uncertain elements. Once they are figured and put together to create different scenarios that showcase what is known and what isnt and how it going to effect the environment. In this report, we will discuss the setbacks that are affecting labor demand and supply in Australian market and Human Resource Planning focus on the scenario planning which will take account of e xternal changes in Australian market. Cause of Globalization Globalization result in promoting competition but also can be relate with non-competitive nature in the international market. Thus, a threat arises for the government facing difficulty with behavior over another country that can affect its economy. Economic growth of a country craves for more imports and expands the capacity to produce more for export. Thus generating enough saving to invest both domestically and internationally to meet demand of investment associated with economic growth. Innovation in technology such as Information technology and communication technology generates high financial and economical degree between different countries. Fall in transportation cost is the major factor in recent boom in globalization. Liberation of economic activity trade and investment both nationally and internationally. Globalization and Labor Market Condition of domestic labor market plays an important role such as job roles such as nurse, retail worker, and teacher pay roles are affected by domestic condition. Globalization has deep-rooted effect in market as it encourages substitution of labor for technology and capital in industrialized countries as it helps the highly skilled workers and not the unskilled. Outsourcing works to low wage countries. Relocating firms from high pay to low pay countries will help cut cost. Globalization effect on trade and labor market is mixed but has broader effects on business and not only just on trade price on labor market. Trade have grown in the recent decade more than economic growth giving rise to more number of multinational companies in recent times which is bringing foreign investment and international flow of capital. Impact of Globalization on Australia The impact of globalization in the Global market and in Australia can be pointed in three sources of tension. First, it reduces trade barriers and increases opportunities for high skilled labors because of investment but it also reduces opportunities for low or semi skilled labor in the market. Second, globalization creates a conflict with domestic preference of service and goods for example safety and health standard imposed by certain country on certain good will no longer stay validate as good under World Trade Organization are treated as equal no matter its nation of origin. Third, countries with most social insurance and protection with an open economy finds it hard to manage social insurance and safety nets due to globalization. Globalization can be debate over many economic and social issues. Australia particularly has always maintained openness in its industrialized economy but tried not to be tied up in fortress Australia mentality. Australia cannot isolate itself from the rest of the world in the time of globalization if they want economic development in the country. Globalization often raises concern of racism in the global scenario due to some counties extreme monopoly of isolationism and nationalism (Butler et al., 2016). Abolish of Protectionism Australia always have the monopoly of buying less and selling more to other countries and also have severe restriction on foreign investment but due to rise of unemployment and inflation it lost it competitive advantage. Thus government forces business to compete in the global market since then Australia have open doors to foreign investments as a result significant increase in the quality of lifestyle have shown in Australian. Globalization have given chance to foreign firm to set business in Australia which dragged out the inefficiency in the economy and made the market competitive and innovative thus improving the lives and lifestyle of many (Sparrow, Brewster Chung, 2016). Change in Manufacturing Base Manufacturing which need high labor intensity shifted to Low wage country due to globalization, company finds it irrelevant to hold manufacturing unit in Australia as the same work can be done easily and at cheaper rate in Low wage country due to advancement in the transportation sector thus it can be cheaply produced and supplied in the market. High wage labors in Australia have resulted into shrunk of GDP of Australia by high percentage. Australias high tech manufacturing has risen as well as have seen the rise in jobs. For example, Australia has the largest unit of Boeing manufacturing unit outside USA that is developing through RD and sales (Eaton, 2017). Growth in Service Sector Service sector of Australia have seen tremendous growth in the recent year. In the recent decade, Australian wholesale trade, financial institution, retails trade, education, healthcare and tourism communication etc. Due to Globalization and consistent growth of the countrys GDP Australia has been the benefactor. In a recent study according to Forbes 6 out of the 10 largest company of Australia are finance service and bank. This also resulted in strengthen of Property of the country, strong infrastructure, confidence of the consumers etc. Australias geography plays a major role to build a thriving relationship with Asian Market (Boella Goss-Turner 2013). Scenario Planning Scenario planning identifies organizations long-term goal and plans. It involves different aspects such as system thinking. As Australia enters the 21st century, global shift is challenging Australian business and determining Australias step in to the International market with partnership with global clients to maintain peace and prosperity so that it will enhance sustainability in the future. To discuss the current global changes facing Australia we have to look at some big problems (Kavanagh Johnson, 2017). Global Financial Instability Size, Complexity and Interconnection of financial market of privet sector challenges the ability to monitor and properly regulate by National government. To solve the problem financial stability board and Basel Committee are leading by examples keeping Australia out of recession. International agenda addressed by National government is necessary to avoid future crisis. Nuclear Proliferation Nuclear weapons avoidance agreement between US and other countries do not solve the entire problem. The destruction capabilities of nuclear weapon are incomparable. That is why Australia is trying to remain active in the arms race (Ruttan Thirtle 2014). Cyber Revolution New technology have enhanced the productivity and the prosperity of any organization with that it has also threaten the security of an infrastructure of both country and corporation thus requires constant vigilance both at home and office through cyber cell is required.Australia will remain vigilant by addressing economic and political factors, including global terrorism and poverty (Hanna Oliva, 2015). Food Security Growing population giving rise to need of food security in Australia loss of agricultural land will be a major drawback, being the largest exporter of agricultural product, Australias landscape and tropical environment helps it to produce more and more amount. In the current market of globalization, Australia will be a major and leading name in the global market and will help other countries by solving their food scarcity. Energy Security Food, Energy and Climate all the three are interrelated growing demand of energy resource in the country from major concern. Renewable energy resource is severely scare so use of natural resource is very important and prominent (Ehrenberg Smith, 2016). Climate Change Climate change is the major concern of developed countries and thus required attention both national and global action. Climate change has resulted into major economic and social trouble thus addressing the issue of climate change is important for Australia. Global Poverty Today in this world, more than a third of the population lives on less than Two dollar. Trade policy and aid are the core elements to reduce poverty globally it will result in good for global economy, regional stability and Australia (Cahuc, Carcillo Zylberberg, 2014). These are the reason that are big problem globally and requires deep attention of the country to tackle. HR should be planning scenario to solve the problem. Australia have a diverse economy and being shaped into a vibrate economy due to globalization, thus influencing all the business. Business cannot survive without implementing global perspective in the competitive market but how globalization is going to affect a business varies from sector to sector. Terrorism, Legal reason and culture could the other phenomenons that influence a business in the global world. Transportation and communication made consumers aware and selective. So far globalization have efficiently and competitively made economy for Australia which is driving the country to provide better service in both mining and service industry. Innovation and accumulation knowledge through learning is the key to success in business. References Boella, M., Goss-Turner, S. (2013).Human resource management in the hospitality industry: A guide to best practice. Routledge. Cahuc, P., Carcillo, S., Zylberberg, A. (2014).Labor economics. MIT press. Eaton, J. (2017).Globalization and human resource management in the airline industry. Routledge. Ehrenberg, R. G., Smith, R. S. (2016).Modern labor economics: Theory and public policy. Routledge. Hanna, R., Oliva, P. (2015). The effect of pollution on labor supply: Evidence from a natural experiment in Mexico City.Journal of Public Economics,122, 68-79. Kavanagh, M. J., Johnson, R. D. (Eds.). (2017).Human resource information systems: Basics, applications, and future directions. Sage Publications. Ruttan, V., Thirtle, C. (2014).The role of demand and supply in the generation and diffusion of technical change(Vol. 21). Routledge. Sparrow, P., Brewster, C., Chung, C. (2016).Globalizing human resource management. Routledge. The challenges to labour demand and supply posed by globalisation, and environmental and demographic changes, means that organisations can no longer assume that jobs will remain unchanged for long periods and that Human Resource Planning only needs to focus on internal replacement charts and succession planning. To remain relevant, HRP must focus on scenario planning which takes account of the major external changes facing Australian businesses. Discuss.

MBTI And Big Five Personality Characteristics

Myers Briggs type indicator (MBTI) is a highly regarded scheme which is extensively used for understanding nature as well as for inferring personality. According to the owners of the system, the main aim of the inventory is to make the hypothesis of psychological categories illustrated comprehensible and also of use in people’s lives.Advertising We will write a custom research paper sample on MBTI And Big Five Personality Characteristics specifically for you for only $16.05 $11/page Learn More Myers Briggs type indicator model and Myers Briggs theory is a preferred mode of behaving as well as a technique for perception of character (Cervone 2009). However, the technique is not used in quantifying emotional situation or psychological stability or else the aptitude or capability and hence ought to be used with great heed in evaluating aptitude for careers. The MBTI model is chiefly helpful for: Allocating and being in agreement on errand and projec t responsibilities. Concurring roles and developing with others. Comprehending and developing others. Developing and understanding oneself. Understanding what inspire others. Team working. Comprehending others weaknesses as well as their strengths. Big five personality characteristics in psychology refer to an expressive model that is used to categorize human being personalities by means of academics (Goldberg 1993). The big five makes use of complete, experimental, data-driven study in the same manner as MBTI model although it names the characters differently. Big five personality characteristics engross: A replica based on skill and not on speculation. Partiality point out by vigor of score. Five magnitude of individuality. Stresses on individual personality behavior. A normal allocation of score on these scopes. There are five extensive areas or extents of personalities within the big five personality characteristics model (Cervone 2009). The big five is the mainly utilized re cent psychometric dimension perception in personality psychology. The five dimensions include; Openness, Conscientiousness, Extraversion, Agreeableness and Neuroticism. Below are three personality characteristics stated and discussed: Openness- this refers to readiness to believe extraordinary or new ideas. People who are open usually have an all-purpose appreciation for art, adventure, emotion and also for science. Such individuals with these kinds of characteristics, exhibits strong interests as well as thoughts (Goldberg 1993). These kinds of people tend to be more resourceful and aware of their approach; they are rationally inquisitive and also responsive of beauty. These characteristics make a distinction between the open people from the conservative ones. Those with less scores in openness are likely to have more traditional and conventional interests, also prefers the obvious, undemanding and easy over vague and complex things.Advertising Looking for research paper on ps ychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conscientiousness- this is a tendency to act submissively, demonstrate self-control and aspiring for success. Conscientiousness manipulates the manner in which one controls as well as directs his or her desires. Need for achievement is a major factor that is contained in conscientiousness. It may also be referred to as the mannerism of being vigilant and thorough or otherwise the quality of acting according to the dictates of one’s principles. It comprises of element like self-discipline, caution and of unflagging conscience. People who are high on conscientiousness are usually goal oriented, more energetic, have good moral values and are more driven by success. Agreeableness- is the propensity of being supportive and sympathetic rather than being doubtful and hostile to others (Cervone 2009). It can also be described as the dimension of the extent to which one puts other people†™s wellbeing above his or hers’. Agreeable persons can go to an extent of covering up their feelings for the sake of not offending others; they usually portray a hopeful outlook of human nature thus, believes that people are truthful, dependable and polite. Agreeableness is considered to be an alliance of more precise character qualities that come together statistically. There are lower-level personalities that are linked to agreeableness and they include; frankness, unselfishness, fulfillment, humility as well as tender mindedness. Openness is one personality characteristic that can be developed with time via having a lot of questions about the various things that one comes across in day to day life (Goldberg 1993). This comes mostly out of curiosity. During my early development, I was interested in knowing why a matchstick lights when struck on a matchbox and it was out of this curiosity that I came to know the physics behind it. On basis of my education, success depended on imagination as well as being creative. This played a great role in understanding the various concepts that I came across in my studies. Openness at a great extent played part in my occupational choice (McCrae 1992). This is because I was much interested in coming up with new ways of improving the situation at hand.Advertising We will write a custom research paper sample on MBTI And Big Five Personality Characteristics specifically for you for only $16.05 $11/page Learn More Conscientiousness can be developed through training as well as advising one the importance of being organized. Conscientiousness is majorly attained during early development. This is by training a child to be neat reliable and organized (Goldberg 1993). These factors are retained to adulthood if well cultivated in the early development. In my education background it was through being organized that I managed to go through the system and pass this is because I was had learnt the i mportance of being organized during my early development hence I was determined to achieve what I aspired to. Agreeableness could have built up from an inner self that needs no much training as it depends on what one does voluntarily. During my early development, I relied on my elder sister who was so supportive and helpful to me. This had grown out of the trust and I heard from her as she was all along friendly to me. Putting emphasis on personalities as crucial factor towards the attainment of social indicators and the conditions at work place helps to accelerate the people’s living standards. This is because there is proper guarantee of social services and utilization of resources perfectly hence projecting the level of needs required after a given duration. Individuality increases the essence of creativity which gives a room for economy transformation due to the high rate of employment (McCrae 1992). As a result of ones trustworthy, reliability and openness, the achieveme nts of laid down objectives and goals is easily accomplished thus the social and occupational choices are manipulated by human being’s characteristics. In conclusion, the Myers Briggs scheme and the big five model are useful in comprehending personality (McCrae 1992). The personality characteristic elaborates more on the behavior of people and the manner in which people react towards various conditions.Advertising Looking for research paper on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Understanding people’s characteristics one is able to categorize humans according to their behavior. Agreeableness, conscientiousness and openness are some of the major personality characteristics that determine how different individuals relate to each other. The level of trustworthy, reliability, neatness, curiousness, and creativeness are some of the major traits that are found in people having more levels of personality characteristics. The various personality traits can be developed in one’s life time as they have a great impact on an individual’s day to day life. References Cervone, D., Pervin, L.A. (2009). â€Å"Personality. Theory and Research†,  The Los Angeles Times, p. 4. Goldberg, L.R. (1993). â€Å"The structure of phenotypic personality traits†,  The New York Times, p. 7. McCrae, R.R., John, O.P. (1992). An introduction to the five factor model and its  Applications .9th ed., New York: McGraw-Hill. This research paper on MBTI And Big Five Personality Characteristics was written and submitted by user Javon Rojas to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.