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Assessing the Impact of Globalization on the Caribbean Business Environment

In: Business and Management

Submitted By Koscina
Words 3201
Pages 13
The purpose of this paper is to assess the impact of globalization on the Caribbean business environment. Much has been written about globalization which is more accurately viewed as a process of change rather that an event which has already occurred. The impact of globalization on any environment can be both positive and negative and can be described as the enablers or the constraints which affect the decisions made by leaders, both government and business. It also refers to the way these choices affect the lives of all people.

Scholars David Held, Anthony McGrew, David Goldblatt and Jonathan Perraton developed a general framework for understanding the process and characteristics of globalization. The authors said that, “in its simplest sense globalization refers to the widening, deepening and speeding up of global interconnectedness. They also suggest that the process of Globalization does not only have one kind of impact or outcome but four different types namely Decisional, Institutional, Distributive and Structural:
• Decisional impact. How does globalizing processes affect how individuals, corporations, organizations and governments make decisions?
• Institutional impact. How does globalization change the agendas of organizations and individuals, structure their choices and influence their preferences?
• Distributive impact. How does globalization change the way wealth and power are distributed within and among countries?
• Structural impact. How does globalization structure patterns of behavior (social, political, economic, etc.).

Globalization means many things to different people depending on one’s perspective and where you are in the world, be it developed or developing nation or leader in business or politics. Research has shown that there are many definitions with some common themes emerging. There would be agreement that Globalization is…...

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