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Globalization and You

In: Business and Management

Submitted By jciwu
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Globalization And Your Business, Community and You
Indiana Wesleyan University

Globalization is becoming a buzzword in today’s society but what does it really mean in affects to your community, business and you personally? Globalization merges are economies social interactions, and cultures together making the world interdependent on one another. The importance of viewing the world as a whole and less as a sovereign of nations is becoming more evident as cultures blur, economies blend and the people are subject to the diversification of interacting with others whose traditions, beliefs and ethical views vary from our own. Recently, I asked two individuals, Doyle and Todd, to discuss their views of how globalization as touched their community, business and them personally. They have also expressed their view of whether these impacts have been positive, negative, or a combination.

While globalization touches almost every one, the distribution channels are uneven in concentration with the heavier industrialized nations being harder hit. There was mixed reviews on globalization and its impact with my interviewees. Doyle, whose community is immersed in the steel industry, views the overall effects as negative. Low prices seem to be the driving force due to this market’s competitive environment where price is dominant over product features. Also, the U.S. industries find it hard to compete when foreign governments subsidies steelmaking, have less concern over the environment and lower labor costs. The loss of well paying manufacturing jobs comes at a high price to those who are not able to cope effectively with the changes. Also, many of the youths in the community are leaving for better viable job opportunities. Those of have managed to keep a job face stagnant wages due to the fierce competitive market to keep costs low. Todd, on the other hand, has the…...

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