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Submitted by msstark1999 on March 2, 2008
Category: Business
Words: 814 | Pages: 4
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Globalization Questionnaire
Introduction
A dish made in Taiwan is sold in Chile. At the same moment, a tree in Belgium is being cut to manufacture a chair destined for the United States. These two occurrences are examples of globalization. To understand the impact of this phenomenon, one must denote the meaning, realize the driving factors, identify local effects of community and organization, and review the importance of regional trading blocs associated with globalization.
What is globalization?
Simply, globalization is a process. A more detailed definition would state that globalization is the collective worldwide progression that makes the population and economies of the world more integrated, more homogeneous and more inter-reliant. According to Stutz and de Souza (1998), globalization is a
“process of the economy becoming worldwide in scope and is a useful way to explain why the movement of people, goods, and ideas within and among the world realms are becoming more and more important to not only economic systems but also cultural, political and environmental systems.”
Although the definition explains what this happening is, the denotation does not explain the force behind the occurrence.
What are the major drivers of globalization?
Two causes seem to affect the globalization trend. The first driving force is the decline in trade barriers. Because of the recession of the trade restrictions, the world has experienced international trade, foreign direct investment and a reduction in tariffs. These practices allow resources, goods and services to be imported and exported while being governed by through the General Agreement on Tariffs and Trade (GATT) which was established in 1947, and the World Trade Organization (WTO), which was established in 1993.
The second driver of globalization encompasses the changes occurring in the communication, information and transportation fields. The...
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