GE 5

THE CONTEMPORARY WORLD

SUBMITTED BY:
JUBERT TACO LUCBAN BSEE-3
Student

SUBMITTED TO:
Mr. RAINVILLE R. BALASE
Professor at College of Arts and Communication
Activity 1:
Activity 1.1 Globalization At Home
To answer this activity, take a ‘tour’ inside your home. Find as many things or
products as you can that you and your family use/consume, identify their country of
origin and/or their manufacturing company. Write your answers on yellow paper
using the format below.

Things/Products Country of Origin Manuf. Company

Soap (Safeguard) Cincinnati, Ohio Procter & Gamble

Beer Brand Bärenmarke, Switzerland Nestlé

Refrigerator (Condura) Philippines Conception Indutry Inc.

Television (Ace) Australia Ace

Toothpaste (Colgate) New York, USA Colgate, Palmolive

compony

master facial wash Philippines Unilever Philippines, Inc

1.2 Based on your answer, formulate your definition of globalization.

Answer:
Base on my answer in activity 1.1 there is an exchange of goods, product,
technologies around the world. And the toothpaste, Safeguard, Beer brand, master
facial wash, and refrigerator are few kinds of goods, products and technologies
where the human used. For this I define the globalization as a ways where we are
interconnected by each other. My activity 1.1 I say that it is an economic
globalization sence it deals with economic that identify things and products.
1.3 The world today is still facing a health crisis brought by the rapid spread of
coronavirus disease (COVID19) that started in the late December 2019 in Wuhan,
China, and early months of 2020 in other parts of the world. How would you relate
this scenario with globalization? Explain your answer.
Answer:
Through the Covid 19 it gives a negative impact to the globalization not only on the
products that a country has but also the culture. Globalization also defines in culture
and it is called cultural globalization people around the world at the same time
dealing with and constantly resisting Covid the cultural practices are limited due to
following protocols like social distancing, no gatherings, and always use face mask
and face shield. This how globalization can be seen in contemporary events
Activity2
Answer questions properly and lay down your bases.
1. Does global free trade do more harm than good?
Answer:
Well for me as one of the recipients of this globalization global free trade is
essentially good for us. Mainly because it is the foundation of our economic growth.
It encompasses a lot of advantages in our economy from technological
advancement to the globally exchange of information.

2. Do you agree in “buying Filipino” products even if you have to pay a higher price?
Answer:
I say No, Yet harboring our own product contributed to Philippines growth economy
for higher sales, but practicality arouce in terms of crisis that consumer pust to buy
foreign product at low price. Inconsiderate, if I bought Filipino products at high price
which can able to purchase some products from foreign with lesser price.
Affordability is most important than costly product to testifying that we are Filipino
and we must proud of Filipino products. In a real situation, controlling our monetary
label citizenship doesn't matter, it how individual consume and manage the up and
down prices with limited fund, and in that way Filipinoes manners and characteristics
percieve that is the true economist.

3. Give the top 25 world’s best companies in 2019 (include their industry and
headquarters.

Name of Companies Industry & Headquarters.

1. Hilton Hospitality; McLean, VA, US

2. Salesforce Information technology; San Francisco, CA, US

3. Wengmans Food Retail; Rochester, NY, US

Markets, Inc.

4. Workday Information technology; Pleasanton, CA US.

5. Kimpton Hotels & Hospitality; San Francisco, CA, US.

Restaurants

6. Cisco Information technology; San Jose, CA, US

7. Edward Jones Financial Services and Insurance; St. Louis, MO,

 US

8. Ultimate Software Information technology; Weston FL. US.

9. Texas Health Healthcare; Arlington, Texas, United States

Resources

10. The Boston Consulting Professional Services; Boston, Massachusetts,

Group, Inc. United States

11. Stryker Medical technology; Kalamazoo, Michigan, United

States

12. Publix Super Market Retail; Lakeland, Florida, U.S.

13. American Express Banking; Financial services; 200 Vesey Street;

New York, NY 10285; United States

14. Companies Financial Services; 1050 Woodward Avenue

Detroit, MI 48226 United States

15. Orrick Industrial Services; Howard Street San Francisco,

CA 94105 United

16. Baird Financial services; U.S. Bank Center Milwaukee,

Wisconsin United States

17. JM Family Enterprise Retail & Whsle - Discretionary; 100 Jim Moran
Inc. Blvd Deerfield Beach, FL 33442 United States

18.Kimley-hom and Professional services; Raleigh, North Carolina,

Associate Inc. United States

19. Camden Property Real Estate; 11 Greenway Plaza Houston, Texas

Trust

20. Cooley LLP Industrial Services; 55 Hudson Yards New York,

NY 10001 United States

21. Planted Moran Industrial Services; Southfield, MI , USA

22. Adobe Software; San Jose, California

23. Veterans United Home Mortgage Lending; Columbia, Missouri

Loans

24. Intuited Inc. Software & Tech Services, St Sydney, 2000

Australia

25.The Cheesecake Consumer Discretionary Services; Calabasas

Factory Incorporated Hills, CA 91301 US.

4. Do you think that the Philippines is harmed as other countries transfer their
activities to us through outsourcing?
Answer:
I think that Philippines is not harmed as other countries transfer their activities to us
through outsourcing for the reason that, outsourcing is a huge factor that can give
such positive impact in the field of business. And through outsourcing, a certain
organization will become creative and productive because they will have a lot of time
to create their business plans for them to be able to produce a product that will
caught by the costumers' demand or attention.
Because outsourcing is also one of the most helpful industries that
contributes to the growth of our country. Most Filipinos can now enjoy working in the
Philippines through the outsourcing industry and choose the most suitable career for
them which also give them a higher compensation than the average Philippine
salary rate.

Activity 3
Explain the following:
1. Do you agree that the center of gravity of the global economy is shifting to Asia?
Why? Why not?
Answer:
No, because there are some reason that Asian can't be as the center global
economy of gravity. May be the Asian are the biggest Continental but it is not a way
of being serve to be said global economy. The Asian economy are suffer from
inadequate consumption of demand, and its dependence of markets for its growths
will not change. The lock or innovations abilities and pressure from future global
rules on climate change, Asian economics would not achieve an exceptionally fast
growth rate that could make them surpass their Western competitors within a short
period of time. The Asia is undergoes the present problems in establishing single
market and therefore Connor from a consensus to better represent it's interest in
global decision making process.

2. What are the pros and cons of global corporations? Give an example of
Global Corporation/Company as your reference.
Answer:
List of Pros of Multinational Corporations
1. Their size benefits consumers.
The operational size and scale of these corporations can give them the chance of
taking advantage of the economies of scale, which paves the way for lower average
costs and prices for consumers. This is particularly important to industries that carry
extremely high fixed costs, such as car manufacturers and airlines.

2. They can help a country in many ways.

Multinational corporations have the ability to bring advanced technology to poorer
countries, while bringing low-cost products to the wealthier ones.

3. They are cost-effective.

By utilizing labor in parts of the world where the low cost of living does not require
high wages for production, these companies can keep consumer costs down. As a
result, many industries can also benefit.

4. They can create jobs and wealth.

These global companies’ inward investments offer the much needed foreign
currency for developing economies, which in turn help with creating jobs and
increasing expectations of things that will likely happen.

5. They help other companies.

Through merger and acquisition, multinational companies can help other commercial
organizations with achieving economies of scale in distribution and marketing,
allowing well-managed businesses to take over those that are poorly managed.

6. They adhere to the best brand standards.

This is one of the best qualities of these corporations. For example, McDonalds is
still McDonalds wherever it is operating in the world. There is a standard that this
restaurant chain is expected to adhere to. The same goes to the manufacturing
sector, where standards are set and are expected to be adhered to. This builds trust
and confidence among consumers, which is then converted to consumer loyalty.

7. They ensure minimum standards.

Somehow connected to the previous pro, the main reason for the success of
multinationals is that consumers would usually purchase products and services on
which they can go for minimum standards.
8. They help improve standard of living.
Multinational corporations have the capability to improve the world’s standard of
living, providing people with access of quality products regardless of the place.

9. Their large profits are consumed for development and research.

Taking into consideration pharmaceutical companies, they can easily afford to pour
millions of dollars into their research and development efforts. The same goes for
automobile manufacturers and other large corporate entities. Without their global
presence and large profit margins, they will not be able to do this. Another good
example is oil exploration, which is both costly and risky. As such, only large firms
can undertake it by using significant amount of money and other resources.

10. They allow for a wider market.

With these big businesses, huge markets have been created both domestically and
internationally.

List of Cons of Multinational Corporations

1. They might unfavorably dominate the market.
Remember that the market dominance of multinational corporations would make it
hard for smaller local companies to thrive and succeed. For example, arguments
state that the larger supermarkets can squeeze out local corner stores’ notable
margin, leading to lesser diversity.

2. They might exploit the workforce.

These corporations are not well-known for treating people fairly and are instead
known for ignoring rules and regulations, as well as turning a blind eye to injustice in
the workplace. They are put into the spotlight for outsourcing to the lowest bidders
and for skimping on quality. They are not known for having what smaller businesses
have—the “human” touch. Many of them are even found exploiting workers and
natural resources without considering the economic well- being of any country. In
fact, some of them are criticized for using slave labor, where workers are paid with
very small wages.

3. They take advantage of consumer expense.

Usually, companies are interested at consumers’ expense, but multinational
companies, with more power, is taking this to another level.
4. They can push local firms out of business.
Giant multinationals use the scale of developing economies to push the local firms
out of their business.

5. They are willing to gain ridiculous profits at any cost.

These companies are able to realize tremendous profits and do not share their
wealth. For example, these organizations th

3. What is the importance of international financial institutions to countries of the

world?

Answer:
The international financial institution plays major role in economics development
programs of nations and changing market position, and traditional objectives of
some of the institution like world Bank and the Iamaf entail election of poverty in
developing countries enhancing measures that promote economic growth and
protection of the environment.

Activity 4
1. Globalization restrains government by inducing increased budgetary pressure.
Answer:
> Globalization doesn't affect only single aspect because encompasses all.
Globalization restrains the government by inducing increased budgetary pressure
if it is necessary to increase the price of all exported products when there are
changes that happens on imposing tariffs in international trade. So as a result, the
global currency may not be constant as it is affected by globalization.

Activity 5
Explain your answer.
1. How can nation-states address the challenges of global governance?
Answer:
The nation-states address the challenges of global governance by indicating the
value or unit of its currency, because the currency tells what's happening in global
governance, so if you see that the currency rate of our country was increased it only
means that there are good things that happening in global governance, or we could
say that there is good development in global governance brought by globalization.