Explain the term ‘globalisation’ and the role that multinational companies play in the development of globalisation. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services and has therefore lead to increased trade between countries. This trade encourages countries to work together and removes trade barriers such as quotas and tariffs. This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country.
Outsourcing brings proven benefits in the form of economic leveraging, increase in the quality of products and it provides a number of opportunities to less developed countries. For example in recent times, Americans are overwhelmingly supporting the major retail stores like Wal-Mart, Target and K-Mart. The reason behind this consumer loyalty is that it has become much easier to shop at these locations rather than the local mom and pop stores located on the corner of most neighborhoods. The benefit is that you can purchase everything on your shopping list from one location, saving you time, money and gasoline. In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost.
This involves working to reinforce Australia’s security and enhance Australia’s prosperity. Non-Government Organisations (NGO’s) play an important role to help secure defence ties. Australian Defence Association (ADA) is an example of a NGO. They seek to represent the long-term public interest in helping to ensure Australia is strategically and domestically secure. Their primary focus is to ensure effective and strategic national
Outward-orientated (Export-led) – An outward-oriented growth strategy, based on openness and increased international trade. Growth is achieved by concentrating on increasing exports and export revenue, as a leading factor in the aggregate demand of the country. Non-governmental organizations (NGOs) – They plan and implement specifically targeted projects in developing counties and they act as lobbyists to try to influence public policy in areas such as poverty reduction, workers’ rights, human rights and the environment. MNCs (Multinational corporations) – A corporation that has its facilities and other assets in at least one country other than its home country. Such companies have offices and/or factories in different countries and usually have a centralized head office where they co-ordinate global management.
Immigration Family, friends, the comforts of home and familiar surroundings all became a distant memory for people when they immigrated to the United States. Immigration is essential to the American economy because it contributes to the overall growth of the nation's wealth, it successfully exhibits the economic capitalist model that our nation has come to possess and, above all, it promotes success for the immigrants' and the natives' descendents alike. To begin, immigration in its totality increases the total output of the economy. By welcoming foreigners from various countries with open arms, the United States is initiating the correct action in promoting its economic growth. When these new people enter the daily workings of American society, they contribute positively to both employment and consumption.
These early ideas made it possible for the different views of the rich and working class to have their own set representation as needed when capitalism, or free market enterprise, and common wealth made its way into American economy. Free market enterprise was a way for the artisans, or skilled workers, to make money by producing and selling their products. As technology advanced and more inventions were being created there also came better, cheaper, and faster ways of producing mass amounts of the same products. Factories and new means of transportation made it possible for industrialization to make a rise and excel American economy. While business was great for the owners of these companies and those who could afford better living it was a completely different story for the factory workers and artisans.
Globalisation is the process by which the world is becoming increasingly interconnected due to an increase in technology, trade and cultural exchange. Telecommunication is the transmission of messages over some distances to communicate with others. At the start of telecommunication there were much slower methods such as fax machines. In recent years, they have become much quicker and more efficient. They have also become much cheaper for example social networking is completely free.
Over the course of the last few decades globalization has turned the world into an integrated economy instead of what it has been for most of its history, a series of relatively isolated economies. The more trading that takes place, the more wealth is created, and global trade across international frontiers has created more wealth than ever before in human history, and had helped lift more people out of poverty than ever before. Because of globalization, democracy has become an international norm. With the ‘international norm’, democracy brings values that are very important for the welfare of the people and the economy. In poorer countries, globalization brings the chance to sell their relatively low cost labor onto world markets.
The political judgment may also influence the participation. For example the important of issue may have pressure to use public participation or not as the way to solve the issue. They divide participation into: 1. Participation as consultation, the participation is the system for the authority to get feedback from the participant. There are range of techniques are used to obtain the response from community such as public meeting and survey.
It’s new east European members are those who use this opportunity more frequent. There are several advantages of studying and working abroad, for single people as well for the countries and the whole world. Firstly, international resources are maintained better this way, knowledge spreads faster, qualification and employability increases all over the world. For example, students from India or China, who study in UK or US, often get much higher level of education than in their home country. Working abroad, they expand their knowledge and skills, which may be useful for their country in case they come back.