Question: How does Globalisation affect you as an International Business Student? 1.0 Introduction
I’d like to begin this discussion by first asking a few questions. What is globalisation? What does a global world mean? Is it the fast movement of people which means greater interaction? Does it simply mean that due to internet revolution and other technological advances the world is now a village? Does globalisation represent the consumer and open up markets worldwide to their choice and preference? Does it mean countries are free to trade with each other without red tape and other barriers and tariffs? Though the precise definition of globalisation is still unavailable a few definitions worth viewing, Stephen Gill: defines globalisation as the reduction of transaction cost of transborder movements of capital and goods thus of factors of production and goods. Guy Brainbant: says that the process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNC's, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution. As an international business student globalisation has opened up the world to me. The world is now on my fingertips, I am able to use the world’s resources, learn from fortune 500 companies. I am able to interact with international leaders who would otherwise be out of reach, able to communicate with them and see their opinions on international issues and situations. Products which are harmful to markets, individuals and nations are instantly red flagged and the information is transferred in lightning speed. As a student I’m able to access information, leading theories, innovative ideas that are yet to penetrate the market in my developing country Kenya. Globalisation is a great machine for poverty reduction and as an international student I see the opportunities that globalisation has opened for me, and others with the common attribute of innovation. Because of globalisation even as a student I can setup a company and become an overnight success depending on my business plan and other factors. For example the founder of Facebook Mark Zukerberg was only able to achieve his successes because of globalisation. Fifteen years ago what he has done wouldn’t have been possible. However I was more interested in something closer to home. I’d like to present the effects that globalisation has had on a developing country and its impact on poverty levels. India has one of the worlds largest population, and his unemployment levels. However it is fast becoming an emerging market and the following research emphasizes this. 2.0 Globalisation and Poverty:
Globalisation in the form of increased integration though trade and investment is an important reason why much progress has been made in reducing poverty and global inequality over recent decades. But it is not the only reason for this often unrecognised progress, good national polices, sound institutions and domestic political stability also matter. Despite this progress, poverty remains one of the most serious international challenges we face But the proportion of the world population living in poverty has been steadily declining and since 1980 the absolute number of poor people has stopped rising and appears to have fallen in recent years despite strong population growth in poor countries. India has to concentrate on five important areas or things to follow to achieve this goal of extreme poverty reduction. The areas like technological entrepreneurship, new business openings for small and medium enterprises, importance of quality management, new prospects in rural areas and privatisation of financial institutions. The manufacturing of technology and management of technology are two different significant areas in the country. There will be new prospects in...
References: 1. Orr, David W. ‘Education for Globalisation (Modern Western Education System)’, The Ecologist, May-June 1999, v29 i3 p166(3).
2. Globalisation and Poverty: Centre for International Economics, Australia.
3. WIDER ANNUAL LECTURE 6: Winners and Losers over two centuries of Globalisation: Jeffery G. Williamson.
4. Globalisation Trend and Issues - T.K.Velayudham, Page 3, 66.
5. Globalisation and India -Lecture : Prof .Sagar Jain, University of N.Carolina
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