An

Assignment
On
Is Globalization Taking life or giving life? An analysis from the perspective of
International Business.

Course Name: International Business

Course Code: MGT 4203

Submitted to:

Sabrina Sharmin Nishat

Lecturer
FBS, BUP

Submitted By
Souman Guha
ID-16241002
Section: B Batch:2016

Department of Management Studies Faculty of Business Studies

Bangladesh University of Professionals
Mirpur Cantonment, Dhaka 1216
Date of Submission: July 15, 2019
Is Globalization Taking life or giving life? An analysis from the perspective of
International Business.

Globalization is the process by which all peoples and communities come to experience an
increasingly common economic, social and cultural environment. By definition, the process
affects everybody throughout the world.

A more integrated world community brings both benefits and problems for all; it affects the
balance of economic, political and cultural power between nations, communities and individuals
and it can both enhance and limit freedoms and human rights. Social workers, by the nature of
their work, tend to meet those who are more likely to have suffered the damaging consequences
of some aspects of globalization.

People live and develop their potential in social groups. Throughout recent history, the ethnic
group and nation state have been defining characteristics of human society. Throughout the late
20th century and into the 21st century, people have increasingly found themselves in a
globalized world, with economic, social and cultural influences coming from many different
sources. This process has challenged human and social rights and affected individual and social
development. The nation state and ideas of ethnicity and social cohesion have been challenged
by these influences. This process has become known as globalization.

People cannot realize their individual potential and human rights in isolation; they need
supportive circumstances to give expression to most of their rights and to realize their human
potential. At its most direct, these circumstances need to recognize

The last twenty years has demonstrated as never before the inter-dependence of life on the globe.
The whole global environment is affected by changes in weather and land use which in turn have
direct implications for individuals and communities. Economic developments in one continent
can have almost simultaneous consequences in another. Conflicts in one area can provoke
actions and reactions on the other side of the world which can be watched simultaneously on
television or the internet by the whole world.

Globalization has boosted output in the Western economy

Globalization has enabled firms to specialize – and to increase the intensity of R&D, innovation
and capital in their output. Globalization has made it easier for new companies to start competing
with old incumbents. The trade sector has increased the number of people that it employs, both
through exports and imports.

Globalization has raised household income

Globalization helped to reduce high inflation rates in Western economies, giving consumers
more “bang for the buck”. Globalization has increased real wages by lowering the cost of
consumption. Many goods that previously were affordable to only the few – e.g. a mobile phone
or sewing machine – are now common in most households.

Globalization has given economies and people new opportunity

When data is informing us that global trade between 1980 and 2010 grew 35 times, it means in
practice that the corporate sector expanded their foreign sales by 35 times. Globalization has
spurred the spread of new technology, helping to make economies greener and more productive.
Globalization has helped to reduce gender wage discrimination and giving new opportunities to
women.

Another difference between the actual development and the imagined scenario of a non-
globalized world is that globalization created opportunities for faster specialization of production
and firms. Some would perhaps see that a disadvantage, because gone are the days when an
individual firm could build a corporate imperium that produced a huge variety of different
products, often behind the protection of trade barriers. Globalization has improved the quality of
management in firms and the working conditions for people.
Globalization is in several ways a learning process for firms – they gradually figure out how to
improve their products and production – and it is these experiences that improve the quality of
labour and the efficiency with which investors and companies operate.

The new economy has markedly transformed the structural parameters of the economic
landscape and contracted the prism for time and space. The role of information technology in the
new economy has been pivotal. In this fast-paced world, those country who are capable of
capitalizing on innovation and reap the benefits of Information Technology, can be benefitted
from globalization. In this economy of market liberalization, falling trade barriers, opportunities
are larger than blaming globalization as an instrument for accumulating resources by new form
of imperialism, by the clouts of Multinational Companies originated from developed countries.
Cultural influence and dominance cannot be ignored. The economic profile of the new global
economy has been driven by technology, fuelled by innovation and entrepreneurial initiative, and
is based on new ideas, new perspectives and new business strategies. So to say, Globalization is
giving life to many instead of taking lives of incompetent individuals. Globalization increases
vitality of life with innovative, specialized products and with an exposure of global market.
Thus, globalization is undoubtedly, giving life!