Examine how globalisation has resulted in economic winners and losers (15) Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation over the past hundred years has undoubtedly made the world more interconnected including closer societies, politics, economies, cultures and the environment. Globalisation has increased the production of goods and services. There are those who argue that globalisation creates “winners” and “losers,” as some countries prosper, whilst other countries fail to do well. China is becoming a more developed country and is becoming a ‘’winner”.
The term Korean Wave was coined by the Chinese press (Hanliu in Chinese) a little more than a decade ago to refer to the popularity of Korean pop culture in China. The popular idol group H.O.T.’s concert held in Beijing gave the chance for Chinese press to coin the word: “The boom started with the export of Korean television dramas (mini-series) to China in the late 1990s. Since then, South Korea has emerged as a new center for the production of transnational pop culture, exporting a range of cultural products to neighboring Asian countries. More recently, Korean pop culture has begun spreading from its comfort zone in Asia to more global audiences in the Middle East, Africa, Europe, and the Americas.” (The Korean Wave, 2011: p. 11) The Korean Wave in Cultural and Historical Perspective The basic foundation of the Korean Wave originates from Korean’s cultural characteristics that have a strong affinity for music and dance. From the earliest days of Korean history, Korean people have had a love for music and dance.
The skyscrapers fuelled a massive boom in the construction industry and were thought by some as an expression of the great American spirit, a defiant display of American energy and optimism. Industrialisation also lead to extensions of existing cities into suburbs. This was mostly caused by increasing car ownership giving people much greater freedom of movement than ever before. “The spread of suburbia provided further testimony to the influence of the automobile”. The rapid industrialisation increased immigration into the US making necessary city growth.
US pop stars such as Elvis Presley, Michael Jackson, and Madonna have become global celebrities. To rock-and-roll enthusiast, Presley came to symbolize a new culture of youth, he became an icon. And rock itself became an international phenomenon, one that millions of people worldwide saw as their cultural language. The United States influenced cuisine as well. The growing popularity of hamburger, fried chicken on other ‘fast food’ could be noticed.
In your opinion, which played a greater role in Multitech’s growth strategy: Traditional Motivations or Emerging Motivations? Why? Definitely Shih used the Emerging Motivations for the Multitech’s growth strategy. The reason why is because the company first started in Taiwan and after they expended their company overseas leading to the U.S. The Multitech was motivated to internationalize as they had increased their competitive positioning allowing cross subsidization of markets overseas.
Case Study: KFC in China 1. What was the basis for KFC’s decision to enter the international market? Was it proactive or reactive? Explain The Global economic market had seen an expanding trend in the last decade; and that was highly noticed since multinational corporations of developed countries were changing the global market we know by establishing strategies that creates opportunities, expanding and making foreign direct and indirect investments in other markets. All their knowledge and expertise have been reassigned to emerging economies and that helped profiting from these markets governments’ policies in attracting foreign investments, low labor costs, and several other factors in which their efficiency and effectiveness in their processes were revealed .
But major transformation happened due to motivating macroeconomic factors which were the after effects of Asian financial crisis. Liquidity crisis suffered by South Korean economy giving a major setback to Korean conglomerates were the main reason leading to consequential prompt and decisive response by government. This included significant investments in technological infrastructure, broadband and networking technology, in particular, which proved to be a boon for Samsung Electronics Company (SEC) given the advancement in complementing technology and trending awareness in masses. Later, this networked infrastructure growth and the aftereffects of financial crisis paved way for Samsung’s dynamic and diversified homegrown manufacturing, testing and rebranding. In order to illustrate better, let me present the factors and consequent developments in chronological and rational order.
During the period 1919-1929, industrialization had a positive impact on US society by improving the standard of living and working conditions for many Americans. This was a result of the impact industrialization had on the US economy. The result of the new emerging technologies and industry, such as the communications industry and automobile industry such as Ford Motor Company in the early 1900’s had a direct impact on the US economy, and consequently US society; “Inventions in communications and transportation, such as motion pictures, radio, telephones and automobiles, not only fuelled the boom [of the economy] but brought transformations in society”. These emerging technologies brought many changes in US social and economical structures, and subsequently had a positive impact on US society and lifestyle. It can be argued that the development of consumerism in the 1920’s, influenced by the industrialization period, had a positive impact on US society.
This miracle has become a reality because of 5-year Economic Development Plans which helped mobilizing national resources in establishing a self-supporting industrial economy. This growth was accompanied by a democratization and globalization. The critical strategy Korean government chose as authors of “International business management: Asian perspective” claim was realistic, focused on the long-run achievement and the roles and relationships of business and government created an enabling structure for the strategy. At the same time it has combined growth with equity. As The Economist says: “Between 1980 and 1997, its Gini
It is one of the main sources of national income. The most important positive economic effects of tourism are as follows: increase in budget revenues, production expansion, stimulation of investments, and improvement in the population’s welfare like employment creation for the local people. Also, we notice that there are more and more investors come to invest in this country because of its potential natural resources and economical labor force expense. Another effect is the great cultural changes. Globalization has impacted education which is now available to remote cultures that previously did not have access.