Transportation is creating a global village. In other words, the changes in technology would lead to an influence on globalization of markets and globalization of production. The widely use of microprocessors and telecommunications increasing the amount of information being transferred, but lowering its cost. This is very helpful in the merging of markets. The opportunities for companies to expand businesses are raised, due to plummeting global communication cost.
The reasons and factors regarding the creation of this shift in the global economy vary. An example is the advancement and development of transport along with the discovery of improved methods to reach the raw materials which drive industrialisation. NICs are having a major impact on sculpting the global economy. The
Countries with failing economies find it hard to trade or attract investment. IMF loans increase economic stability, helping those countries to participate in global trade. The World Trade Organisation (WTO) regulates the rules of trade between countries. It’s designed to reduce barriers to trade between countries by setting up agreements where tariffs on trade are either reduced or removed. This increases trade between countries which increases interaction and globalisation.
Businesses and people find it far easier to do more of the same than do something different. The world today is changing everyday with markets becoming more globally integrated, new forms of technology and businesses arising and most recently the global economic meltdown which caused significant organisational alterations. Based on the forgoing change catalysts, organisations must be ever prepared to adapt to and exploit changes in business environments whilst seeking opportunities to create change through technological, organisational or strategic innovation. Organisational change catalysts could come in two forms. This could be as a result of External Environments i.e.
Improving people's standards of living. The necessity to combat poverty. Providing the living wage for the working poor. All of those statements are Fair Labor Standard Act’s claims that made a lot of people hold as beliefs when it proposed to raise the minimum wage. Minimum wage is the "lowest hourly wage firms may legally pay their workers.” To simplify, minimum wage is the base wage created to guarantee the ability of the worker to supply his/her needs (or family's), and to prevent the firms, by chances, exploiting their employees.
Which of the following has played the most important role in the rise of globalization? * Transportation * Communications * Transnational Corporations (TNCs) ------------------------------------------------- In the recent years, the world has been experiencing a rise in globalization. Globalization is defined as the process by which people, their ideas and their activities in different parts of the world become interconnected or integrated. This interconnectedness between countries has risen due to the key forces which drive it forward – transportation, communications and transnational corporation. In my opinion, communications has played the most important role in the rise of globalization.
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.
A woman working in the same job as a man will usually earn less, despite the fact that she may have the same or better training, education, and skills required for the job ("Study Shows Female Managers in Britain Earn Less than Men, and Equality Could Be 57 Years Away." 2010). Women are consistently discriminated against in the workplace. Women only make 60 percent or less than their male counterparts in the same job position (Louis, 2010). Throughout history men are seen as the “strong/tough ones”; the belief is that they should be paid more than women in order to support their families (Loney, 2005).
A UC Berkley study of California’s childcare support system found that early care and education systems have much to do with the ongoing wage gap. Found through research done by the Roosevelt institute, the study states, “Better pay and benefits are correlated with a continuous work history. When workers’ careers are disrupted because of child care failure — care that is unreliable, unaffordable, or just unavailable — and these workers are usually women. Periods of non-employment lead to lower wages because of loss of seniority, and sometimes being less likely to receive further training or mentoring due to questions of commitment.” (Kimmel 2006, p.79)When not working for long periods of time some significant “skill deprecation” may occur and thus lowering the wage. Investment in early child education that is affordable to all classes would, in the end work to everyone’s advantage.
The phenomenon of globalization is the process of integration and interaction between nations on a global scale. The process of globalization is mainly driven by the integration and cooperation of multiple governments and economies. This global cooperation influences the development of political and financial systems, perception of multiple cultures and prosperity and sustainability of the environments, which plays a major role in peoples’ living standards and their way of life. As time passes and new discoveries are made, globalization has become one of the most important forces currently shaping the world’s economies and the way multiple nations interact and communicate. One of the main goals of globalization is for organizations to achieve lower production and operating costs to gain a greater amount of products and services and thus consumers.