Advantages of globalization

Globalization is the process by which ideas, knowledge, information, goods and services, and flow of
investment spread around the world. Globalization is a social and cultural process in which individuals
from different cultural background to interact with each other. This integration is increasingly exposing
people to different ways of thinking. Additionally, globalization is all about creating many competencies
that enable company to utilize their resources on an optimal basis to meet demands of their customer.
Moreover, in globalization, acquiring of new information enables one to understand ways through forms
of organization are evolving. Another benefit of globalization is helping women empower and their place
in the world. Empowerment of women in turn changes the classified role distribution that works against
women both in the family and in society.

There are many advantages of globalization.

In access to new markets, globalization allows businesses to expand into new markets, reach
international buyers, increase potential to sell products and services to more customers and increase
revenue. This increase in sale can also boost the bottom line of the business.

Companies must share similar technology in order to cooperate globally. Like E-commerce, for example,
it allows companies to sell products worldwide through Amazon. Similarly, knowledge allows companies
to quickly transfer information and develop innovation solutions. Like in the healthcare sector that
means new medications and medical devices can go to market faster in different countries.

Globalization enhances cooperation that allow companies to leverage their economic strengths and
trade those products for other resources. For example, a country in South America that specializes in
sugar cane can export it to developed country in exchange of manufacturing goods. Moreover,
globalization promotes tolerance, as people are expose to new culture and network with others across
the globe.

Globalization enhances economic growth by distributing resources more efficiently to the countries of
specialized activities. It also promotes indirectly growth through complementary reforms in terms of
capital and financial development.

Combining efforts and resources allows more creativity and innovation to solve problems that affect
people in all over the world. Nongovernmental organizations (NGOs) use a collaborative approach to
address issues that are not restricted within borders. Such as child labor, human trafficking, health care
and disease prevention.

Globalization promotes cross-cultural exchange. Individuals who travel around the world for business
purpose and try different foods, listen music, and read different books, and gain exposure to media
outlets. Their new knowledge can help to develop stronger empathy and appreciation for people of
other culture.

A free trade agreement is between two or more nations to reduce barriers of imports and exports
among them. In free trade policy, goods and services can buy and sell across international borders
without any government tariffs, quotas, subsidies, and prohibitions to inhibit their exchange.