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Saturday, November 14, 2009

“Write a short note on ‘Globalization’” is the assignment question of International Business Management of SMU MBA MB0037. This is the fourth semester question of Sikkim Manipal University of MBA assignment.

Globalisation is a historical process rather than political or economical. It is the result of human innovation and technological progress. Globalization has shown the increasing integration of economics around the world. It has taken a greater aspect in the world particularly, through trade and financial flows. Globalization has covered the broader culture, politics and environmental dimensions of globalisation.

Today, globalization is well known topic across the world. The word has taken a common term. It is referred as the extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity – village markets, urban industries or financial enters.

Global markets promote efficiency through competition and the division of labour – the specialization that allows people and economies to focus on what they do best. Global market offer greater opportunity for common people also to tap into more and larger markets around the world.

In the global market, people can access more capital flows, technology, cheaper imports and larger export markets. Today, commerce and finance are more developed and deeply integrated in global world.

The global era has raised many questions related to social, political and workers. Does globalisation harm worker’s interest? Many theoreticians don’t believe in this question. However, this is right question. Globalisation is the parallel world between the rich and the poor. Capitalist globalisation is always very harmful for workers.

In the global world, only big giant can survive. Globalization has given the theory of third world countries also. In the financial world, globalization is known as the basic elements of periodic crisis of an inevitable consequence of globalization.

National sovereignty question is also related to the globalization question. In the financial market national sovereignty is never followed however, the question always has taken place in political era.

For an MBA student the topic is very current and situational. Understanding about the topic is much wrathful in the global era. To handle a position in any company is much related to the company’s interest in globalisation.


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