MODULE 1 — GLOBALIZATION
Welcome to Module 1. This is the first lecture on
globalization.
Globalization has been the most wisely used, misused, and
abused word. As a concept, globalization does not evoke a single
image, instead, an imagery of disparate meanings. Searching for
a single definition of the word is a fruitless exercise. For
globalization includes everything and anything.
The term has been used in a multiplicity of senses. We
could think about an economic definition, political definition,
and managerial definition, as globalization is political,
technological, cultural, as well as economic.
People view globalization from different perspectives.
Some see it as a highly positive force leading to economic
liberalism, political democracy, and cultural universalism. I
would see it in its wake the rising power of the transnational
corporation, the integration of international finance, the
diffusion of technological innovations, and the emergence of a
community culture around the world.
People looking through different academic lenses find
different ideas. Political globalization favors the protection
of human rights and democracy over totalitarianism and focuses on
the changing role and the importance of the nation-state.
The political definition of globalization substantiates
that the process of globalization is intensifying the level of
interaction and interdependence between states and cultures in
which national boundaries are less important.
Mass media reinforces globalization through content,
advertising, and unlimited access to information over the
Internet. These political and cultural identities integrates a
larger global community, has provided globalization as a
distinctly Western orientation.
But a managerial perspective, this process of interaction
and interdependence could mean a tendency toward regionalization
of people’s cultures.
All agree on the following four elements of globalization:
Economic integration, increase in trade, import/export, foreign
direct investment, portfolio capital inflows, income payments and
receipts, including the compensation of nonresident employees and
income earned and paid on assets held abroad.
Another element is personal contact. We see an increase
in international travel and tourism, international telephone
traffic, and cross foreign transfers.
The third element is technology, the great number of
Internet users, Internet hosts, and secure servers.
The fourth element is political engagement. The number of
memberships in international organizations such as the UN, the
United Nations, in which every country participates and foreign
embassies host that.
Let’s now talk about what I refer to as the evolving
definitions of globalization.
The first one is interconnections between overlapping
interests of business and society. The interconnections between
overlapping interests of business and society. This view sees the
globalized world in terms of a convergence of business and
society. While these two are not always harmoniously integrated,
interest and priorities become convergent over time.
The next definition is a shift in traditional patterns of
international production, investment, and finance. This view
interprets shifts and trends in the world economy, some of which
are pulling previously distinct domestic economies, but with
others creating their own regional identities.
The next, the absence of borders and barriers to trade
between nations. This view is that of a society without borders
and spatial boundaries. Territoriality disappears as the
organizing principle and will be replaced by multinational firms
that are linked across the triadic economies.
The next one is the functional integration of
internationally dispersed activities, more a process than an
end-state. Rather than an end-state, this view emphasizes the
evolutionary nature of a global world. Moreover, as
international trade intensifies, there will be more integration
of finance, technology, and production.
World integration of finance, nation-states, and
technologies within a free market enterprise. This view
emphasizes the drivers of globalization, technology, finance, and
information, with the inevitable consequence of moving into a
world where free-trade is the predominant ideology.
The next is movement in the direction of a greater
integration as both natural and man-made barriers to international
economic exchange continue to fall. This view emphasizes the
economic phenomenon of increased integration of markets
occasioned by markets, technology, and diminishing
government-imposed barriers to international trade.
The seventh is increase permeability of traditional
boundaries of almost any kind including physical borders such as
space and time, nation-states and economies, industries and
organizations and less tangible borders such as cultural norms.
This is rather a broad view that goes beyond physical
border of nation-states and the functional borders of business
enterprises to more intangible boundaries of cultural norms and
values. While it is not clear that the globalized world will have
a single culture in society, it is stated that borders and
boundaries of any kind will have fewer consequences for society
as well as for business.
I sure hope that this short lecture has given you an
introduction to the concept of globalization. Now it is time for
you to start your work.
First of all, read Chapter 1, view the short videos, do
your discussions, your postings, and prepare your essay. The
essay assignment in this module is; prepare an essay in which you
explain the concept of globalization. Analyze both the pros and
cons of globalization, and finally, argue your own position
indicating whether you are for or against globalization.
In your essay, please, support your position with examples
and facts.
Thank you.

Purchase answer to see full
attachment