Republic of the Philippines

UNIVERSITY OF EASTERN PHILIPPINES

University Town, Catarman Northern Samar

GE 5
CONTEMPORARY WORLD

SUBMITTED BY:
JUBERT TACO LUCBAN BSEE-3
Student

SUBMITTED TO:
Mr.RAINVILLE R. BALASE
Professor at College Of Arts And Communication
MIDTERM EXAMINATION

I. Essay:

Explain your answers. 10 points each.

1. Is globalization good or bad?

Answer:
For me just like any other things the conceptualization of globalization has a bad and
good side. It depends on how we deal things in globalizing. Because i know that
globalization really do encompasses the broad understanding of an individual in a
society. The good side of globalization is that it gives us the growth and progress in
this fast changing world. On the other hand its two traffic way, it will guide to path
where the only recipients of its result are us. For example the advancement of
technology, transportation, communication, and even in free trade market it gives
benefits and at the same time struggles. For many people, globalization is a
beneficial process. An economist, said the globalization brought economic benefits
to many people and provided cultural and scientific enrichment worldwide.
Globalization comprises the integration of cultures, information technology,
investment and international trade. Several countries created government policies to
help open their economies internationally and domestically with the objective of
boosting the development in emerging and poor countries so they can lift their
standards of living.
Corporations acquire a competitive advantage through globalization. It helps them
lower their costs of operation. They are able to open new markets and earn access to
other raw materials. They are able to buy, sell and manufacture goods around the
world.
Governments worldwide incorporate free market economic systems due to foreign
trade agreements and their economic policies. The new system has brought
international financial opportunities and industrialization. They have become more
open to international trade by removing many of the barriers that used to make
trading with foreign countries difficult.
Globalization has increased awareness among global consumers of different
opportunities for investment, economic trends and new products. The development of
information and communication technologies helps facilitate awareness of these
opportunities. Technology likewise made the transmission and channeling of financial
assets quicker and simpler.
Socially, globalization provides populations around the world better
interconnectedness. Culturally, it promotes the increase in the exchange of values
and ideas. It boosts the political activities of nations toward a global level through
coordination with intergovernmental organizations. Globalization brings about the
changes in the creation and implementation of international laws.
It encourages many companies to specialize, increase their capital, improve their
research and development efforts and help them innovate.
It provides more employment opportunities, especially in the export and import
sectors.
The household income gains an increase through globalization. It reduces inflation
rates and increases the take home pay of workers because the cost of consumption
is lower.
Globalization allows many goods to be more affordable and available to more parts
of the world.
It helps improve productivity, cut back gender wage discrimination, give more
opportunities to women and improve working conditions and quality of management,
especially in developing countries.
These are the most important benefits of globalization. It is still not a very exhaustive
list but it allows you to see the changes that globalization brings to the global
community. While the benefits are many, globalization likewise has its
disadvantages.

2. In economic globalization, do you agree that rich countries become richer and poor
countries become poorer? Why or why not?
Answer:
Yes because poverty continues to be a grave concern throughout the world. In fact,
poor people are becoming poorer. This phenomenon will have a negative impact on
global economy. This huge income disparity between the rich and the poor has
numerous negative impacts on the society. On the one hand, rich people earn a lot of
money and this enables them to have access to the most expensive luxuries of life.
On the other hand, throughout their lives poor people struggle to make both ends
meet. The enormous gap in the economic conditions has a lot of ramifications for the
growth of a nation. There may be a lot of intellectual man-power, hidden talents and
skills among the poor, who can definitely outshine the abilities of the rich people, if
given a fair chance. These human resources that may significantly contribute to the
development of a nation go untapped.

3. What are the pros and cons of the different types of market integration?
Answer:
As a B2B integrated agency ourselves, we could go on, and on about the benefits of
integrated marketing. But in the interest of brevity, we've picked just a few of the top
pros to share with you here;
You'll develop more trust; consistent reliability and reliable consistency helps your
customer to know and to trust you. Your brand will be more easily recognized;
looking the same way, speaking the same way and giving the same clear message at
every touch point is guaranteed to help customer recognized you faster and more
easily.
The message becomes more concentrated: instead of diluting your message by
opting for a scattergun approach, you'll be focusing it and concentrating its effects,
both on your customer and internally within organization too.
Your budget goes further: when everyone from SEO genius to your sociy medyo
manager and focused on the same message and goal, thing get cheaper. Duplicated
effort are less, likely transactional costs are minimized through standardized branding
and promotional collateral and design and print costs will benefit from being scaled
up.
You'll make more money: There are plenty of case studies out there which show a
direct benefits to revenue from integrated customer journey. In facts, in some cases,
integrated marketing has been shown to produce double sales value year on year.
It's what your customer's want: As we discussed earlier, customer are crying out for
consistency marketing and shopping experience, so why on Earth wouldn't give you
it to them? Chances are many on your competitors are not giving it to them either, so
you'll be a step ahead of you take the lead in this initiative.
If you are looking a market strategy that offers a biggest impacts, the best ROI and
the highest chance of success, integration is for you.
CONS OF INTEGRATED MARKETING
Not everything about integrated marketing is roses and white picket fence thought.
Here are some of the thing we've watched brands struggle within the past.
Itsy not easy: It takes a shift in mindset to get integration really work for you. You'll
need to plan meticulously in order to get it right, and will different types of marketing
as different "department" or teams because it's all one big animal now.

4. How does globalization affect governments?

Answer:
Globalization restrains governments by inducing increased budgetary pressure. As a
consequence, governments shift their expenditures in favour of transfers and
subsidies and away from capital expenditures. The efficiency/disciplining effect is
thus expected to reduce the share of capital expenditures. The compensation effect,
on the other hand, is expected to give rise to a higher share of social expenditures.
The expenditure shift potentially induced by the disciplining effect might therefore be
enhanced by citizens’ preferences to be compensated for the risks of globalization.

5. Why is the word globalization given emphasis or importance in today’s

contemporary world?
Answer:
The word globalization is generally define as the human information knowledge
wherein given important because in which peoples can realize and to be aware what
is happening in our everyday life. Globalization gives emphasize in order the student
like me and even all of us gain a higher education to understand and appreciate the
growing interdependence of the world's economies, cultures, and populations. A
enough knowledge by the globalization brings us in relations across national border.
The exchange of goods and services between nations. By Communication we can
spread of products, technology, information, and jobs across country. This will
emphasize by the word globalization.
6. Differentiate global economy from world economy.
Answer:
The world economy or the global economy is the economy of all humans of the
world, referring to the global economic system which includes all economic activities
which are conducted both within and between nations, including production,
consumption, economic management, work in general, exchange of financial values
and trade of goods and services. In some contexts, the two terms are distinct
"international" or "global economy" being measured separately and distinguished
from national economies while the "world economy" is simply an aggregate of the
separate countries' measurements. Beyond the minimum standard concerning value
in production, use and exchange, the definitions, representations, models and
valuations of the world economy vary widely. It is inseparable from the geography
and ecology of planet Earth.

7. What is the importance of studying globalization?

Answer:
Globalization is about the interconnectedness of people and businesses across the
world that eventually leads to global cultural, political and economic integration. It is
the ability to move and communicate easily with others all over the world in order to
conduct business internationally.
So in today’s world, globalization is an important concept for students in higher
education to understand and appreciate because of the demand in business and
industry to hire people who can work with people of other nations and cultures and if
need be can travel independently internationally to promote their business or
industry. In addition, the world faces global challenges that will take interdisciplinary
groups to solve these challenges; providing access to clean water for everyone on
this planet and making clean renewable energy affordable just to name a few. These
global challenges will need to be solved through the gathering and sharing of
knowledge across disciplines, institutions, and other entities institutions on a global
scale. Creating meaningful relationships that work globally is in itself challenging.

II. Definition:

Define the following terms. 5 points each.

1. Economic globalization
Answer:
It is defined as a historical process, the result of human innovation and technological
progress. It refers to the increasing integration of economies around the world,
particularly through the movement of goods, services, and capital across borders.
The term sometimes also refers to the movement of people (labor) and knowledge
(technology) across borders (IMF, 2008).

The economic globalization has several interwoven dimensions such as; 1) the
globalization of trade of goods and services; 2) the globalization of financial and
capital markets; 3) the globalization of technology and Communication; and 4) the
globalization of production.

2. World system
Answer:
A world-system is a socioeconomic system, under systems theory, that
encompasses part or all of the globe, detailing the aggregate structural result of the
sum of the interactions between polities. World-systems are usually larger than single
states, but do not have to be global.

3. Economic integration
Answer:
Economic integration is the unification of economic policies between different states,
through the partial or full abolition of tariff and non-tariff restrictions on trade.
The trade-stimulation effects intended by means of economic integration are part of
the contemporary economic Theory of the Second Best: where, in theory, the best
option is free trade, with free competition and no trade barriers whatsoever. Free
trade is treated as an idealistic option, and although realized within certain developed
states, economic integration has been thought of as the "second best" option for
global trade where barriers to full free trade exist.
Economic integration is meant in turn to lead to lower prices for distributors and
consumers with the goal of increasing the level of welfare, while leading to an
increase of economic productivity of the states.

4. Contemporary world
Answer:
Contemporary world is a process of innovation in terms of technology, trade or
markets and global competence. It deals with problems and issues related to the
environment, population, wealth, power and tensions and conflicts. studying these
problems and issues, adults learn to understand the nature of the relationships that
form between societies and the way in which these relationships shape the
organization of the world today.
5. Globalization
Answer:
Process of international integration arising of world views, products, ideas, and other
aspects of culture.
Globalization is the process of interaction and integration among people, companies,
and governments worldwide. Globalization is primarily an economic process of
interaction and integration that is associated with social and cultural aspects.
However, disputes and diplomacy are also large parts of the history of globalization,
and of modern globalization.
Economically, globalization involves goods, services, data, technology, and the
economic resources of capital. The expansion of global markets liberalized the
economic activities of the exchange of goods and funds. Removal of cross-border
trade barriers has made the formation of global markets more feasible. Advances in
transportation, like the steam locomotive, steamship, jet engine, and container ships,
and developments in telecommunication infrastructure, like the telegraph, Internet,
and mobile phones, have been major factors in globalization and have generated
further interdependence of economic and cultural activities around the globe.

6. Market integration
Answer:
Market integration occurs when prices among different locations or related goods
follow similar patterns over a long period of time. Groups of goods often move
proportionally to each other and when this relation is very clear among different
markets it is said that the markets are integrated. Thus, market integration is an
indicator that explains how much different markets are related to each other. A
marketer plays the role of an integrator in the sense that he collects feedback or vital
inputs from other channel members and consumers and provides product solutions
to customers by coordinating multiple functions of organization.