Today is an era of Globalization, and we are still finding people not able to understand this word properly. There are several nations in this world that are still not able to catch up with the pace of Globalization, since they are not familiar with the concepts of globalization. Thus, with the aim of defining and explaining the word globalization, I would like to suggest to the nations all around the world to implement strategies that will support globalization. It will also help them from the social and economic perspectives as well.
Globalization is spelled as [gloh-buh-luh-zey-shuh-n]. It is the process through which an organization or a nation as a whole can expand itself into other parts of the world. There is a process of worldwide integration taking place with the implementation of the globalization strategies all around the world. The development of the nation in today's contemporary world depends a lot on globalization (Bridges 361-386).
Consider an example of several market players either into the retail industry or the manufacturing industry who have stepped in into the world of globalization. Consider an example of Apple Inc., which is manufacturing the products in one nation, is marketing the products in another nation, and is selling the products in different nations all around the world. The impact of globalization is huge, and that is the reason due to which, today, people have started to accept the concepts and strategies of globalization.
This word was first originated in 1961. It emerged during 1953 from various senses, however, finally got emerged in 1959 with reference to the phrase global economic systems. Today, however, there is an international integration of several nations all around the world, since people have changed their mindset and views. They are launching products as per the local needs of the foreign nation; and, this is the only way to achieve success in such nations. There are several definitions provided by various researchers on globalization throughout the history.
Today, we are finding many business organizations going global with an aim to globalize all around the world. They want to sell their products, extend their services in other parts of the nation as well. And, as a result, we are also observing a boost in the international trade as well. However, some of the local players argue that, globalization has eliminated the local cultures and the values of the nation. Hence, it is important to focus on the principles and root values, and try to develop products within the nation. They are not in favor of supporting globalization.
However, whichever may be the case one cannot deny the progress of the world, and the way with which the organizations are expanding in today’s era. People are demanding change and the products, which they have never seen or thought of but is available in other foreign nations (James 193-209). Hence, the role of the organizations is increasing a lot from the perspective of globalization. And, with this approach, even the governments of several nations all around the world are implementing their strategies keeping in mind the prospective of globalization. And, the organizations cannot move backward; they have to accept the change of globalization and accordingly the same to the employees of the organization. And, hence, even people need to think of globalization and try to integrate various social, cultural and economic factors so as to prosper and grow in this era of globalization.
References
Bridges, G. "Grounding Globalization: The Prospects and Perils of Linking Economic Processes of Globalization to Environmental Outcomes". Economic Geography 78.3 (2002): 361-386.
James, Paul. "Arguing Globalizations: Propositions towards an Investigation of Global Formation". Globalizations 2.2 (2005): 193-209.
