Globalization and Liberalization
1762 WordsJan 24th, 20118 Pages
Liberalization is a policy measure relating to economic policies. It advocates liberalizing of economy against unnecessary controls and regulations. It does not support any unwanted restriction.
In India this policy was introduced in 1991 as New Industrial Policy to liberate the trade and industry from the restrictions of government and abolished the system of industrial licensing.
Without the policy of liberalization there are undue delays, inefficiency and corruption. But the policy of liberalization brings transparency in the policy and is a type of economic reform.
Globalization is a broad term that is used for an emerging global society in which economic, political, cultural and environmental…show more content…
Liberalization is the diminution of progressive elimination of the control of the state over economic policies. Purely internal liberalization confines its attention to the domestic and takes measures to make it more responsive to market forces. External liberalization, on the other hand, consists of relaxation of the state control in the spheres of foreign trade, foreign investment, and capital inflow and outflow in a country.
On the other hand, globalization fostered by free flow of information and rapid technology is a deriving force that no country can turn back. It does impose market discipline on the participants, which can be harsh, but is the mechanism that derives progress and prosperity. Globalization is an ongoing process of international integration as a result of unprecedented acceleration in the flow of trade, assets, technology, knowledge, information, and ideas across national boundaries.
With this backdrop, it is intended to look into the twin phenomena of liberalization and globalization to gain a better understanding of their nature and consequences,
Globalization is one of the most controversial topics of the early twenty-first century.1 Academic debates currently raging about globalization include whether it even exists (Unger, 1997), whether it is
Globalization is the process used by businesses and organizations especially to develop international influence of technological advancement on an international scale.
Essay on Globalization
Globalization is a most common topic now-a-days students can be assigned for writing essay in their school or during essay writing competition. We have provided Globalization essay under various word limits for the students. All the Globalization essays are written using very simple words. Dear students you can select any of the Essay on Globalization according to your need and requirement.
Globalization Essay 1 (100 words)
Globalization is the process of growing, developing and expanding the business, services or technologies all through the world. It is the expansion of various businesses to the global markets throughout the world. It requires huge international investment to develop large multinational corporations for the worldwide economic integration. It is to increase the connectivity and interdependence of the businesses in the worldwide markets. In the last few decades, globalization has taken the form of technological advancement which resulted in easier travel, communication, and other businesses on international level for the people. On one hand, where globalization has made easy access of technologies to the people, it has also decreased the opportunity of success by increasing competition.
Globalization Essay 2 (150 words)
Globalization is making the availability of businesses or technologies all across the world through the speed of markets. Globalization is making various huge changes in the world where people are moving away from their self-contained countries to the more integrated world. In order to globalize a business, a company need to bring change in a business strategy made for a single country to the special one having ability to operate in multiple countries.
Impact of Globalization
Globalization impacts a business and a company in various ways. Globalization impact on businesses in the worldwide market can be described under two broad categories of market globalization and production globalization. Market globalization is the reduction in selling barriers of products or services to other countries other than its home country. It is very necessary for a company to make success easier by effectively globalizing selling products to the international market. Production globalization is the set up of plant in many countries to produce products locally on low labour cost and earn more profit than its home country.
Globalization Essay 3 (200 words)
Globalization is the spreading of anything worldwide. However, generally it is the process of globalizing products, businesses, technologies, philosophies, etc all through the world. It is the creation of a successful interconnected marketplace without any limitation of time zone and national boundaries. The most common and clear example of globalization is the spread of McDonalds restaurants all around the world. It became so successful in the worldwide markets because of its effective strategy adapting the culture of different countries in their menus to suit local tastes of people. We can say it as internationalization which is a great combination of both, the globalization and the localization.
It is very hard to decide whether the revolution of global marketplace is beneficial or harmful to the humanity. It is still a big confusion. However, it is also tough to ignore that globalization has created greater opportunities to people worldwide. It has changed status and way of living of people in the society to a great extent. It is hugely benefiting the developing nations by providing various developmental opportunities. If we take it positively, it may eradicate the regional diversity and establish a homogenized world culture. It is supported by the information technology and show huge interaction and integration among businesses, companies, government and people of various countries. Globalization has positively and negatively affected the tradition, culture, political system, economic development, lifestyle, prosperity, etc.
Globalization Essay 4 (250 words)
In the last few decades globalization has been very fast which has resulted in the worldwide economical, social, political and cultural integration through the advancement in the technologies, telecommunication, transportation, etc. It has affected human lives in both positive and negative manner; its negative effects are needed to be addressed accordingly. Globalization has contributed a lot to the worldwide economies in various positive ways. Unbelievable advancement in the science and technologies has given amazing opportunity to the businesses to easily spread across the territorial boundaries.
Just because of the globalization, there has been huge economical growth of the companies. They have been more productive and thus given rise a more competitive world. There is a competition in the quality of products, services, etc. Successful companies of the developed countries are establishing their foreign branches to take advantage locally through the low cost man labor than their home countries. Such type of business activities are giving employment to the people of developing or poor countries thus giving way to go ahead.
Together with the positive aspects of the globalization, negative aspects are not forgettable. There has been risk of epidemic diseases by means of transportation from one country to another. There has been proper control of the government of all countries on the globalization in order to reduce its negative impacts on the human lives.
Globalization Essay 5 (300 words)
Globalization is a process of worldwide spread of science, technologies, businesses, etc through the means of transportation, communication, and trade. Globalization has affected almost all the countries worldwide in various ways such as socially, economically, politically, and psychologically too. Globalization is a term indicating fast and continues integration and interdependence of countries in the field of business and technologies. The effects of globalization have been seen on the tradition, environment, culture, security, lifestyle, and ideas. There are many factors affecting and accelerating globalization trends worldwide.
The reason of acceleration in the globalization is because of the people demands, free-trade activities, worldwide acceptance of markets, emerging new technologies, new researches in the science, etc. Globalization has huge negative impacts on the environment and given rise to various environmental issues like water pollution, deforestation, air pollution, soil pollution, contamination of water resources, climate change, biodiversity loss, etc. All the ever growing environmental issues need to be solved on urgent basis by international efforts otherwise they may finish the existence of life on the earth a day in future.
In order to prevent the loss of environment, there is need of globalization of eco-friendly technologies and huge level environmental awareness among people. In order to deal with the negative effects of globalization, companies need to develop greener technologies which may replace the current status of the environment. However, globalization has helped a lot positively to save the environment by improving various resources (reducing adverse effects on the environment like hybrid cars using less fuel) and promoting education.
Apple brand has also aimed to manufacture Eco-friendly products to reduce negative impacts of globalization and exceed positive effects. Increasing demands of the ever increasing population lead towards extensive deforestation causing great level environmental issue. Till now, almost half of the useful forests have been cut in the past years. So, there is a need to make globalization under control to reduce its negative effects.
Globalization Essay 6 (400 words)
Globalization is the way to open businesses, improve technological growth, economy, etc on international level for the international players. It is the way to manufacturers and producers of the products or goods to sell their products globally without any restriction. It provides huge profit to the businessmen as they get low cost labor in poor countries easily through the globalization. It provides a big opportunity to the companies to deal with the worldwide market. It facilitates any country to participate, set up or merge industries, invest in equity or shares, selling of products or services in any country.
How Globalization Work
Globalization helps global market to consider whole world as a single market. Traders are extending their areas of business by focusing world as a global village. Earlier to the 1990s, there was restriction of importing certain products which were already manufactured in India like agricultural products, engineering goods, food items, toiletries, etc. However, during 1990s there was a pressure from rich countries over World Trade Organization, World Bank (engaged in development financing activities), and International Monetary Fund to allow other countries to spread their businesses by opening trade and market in the poor and developing countries. In India the globalization and liberalization process was started in 1991 under the Union Finance Minister (Manmohan Singh).
After many years, globalization has brought major revolution in the Indian market when multinational brands came to India like PepsiCo, KFC, Mc. Donald, Boomer Chewing gums, IBM, Nokia, Ericsson, Aiwa etc and started delivering wide range of quality products at cheap prices. All the dominating brands shown real revolution of globalization here as a tremendous boost to the industrial sector economy. Prices of the quality products are getting down because of the cut throat competition running in the market.
Globalization and liberalization of the businesses in the Indian market is flooding the quality foreign products however affecting the local Indian industries adversely to a great extent resulting in the job loss of poor and uneducated workers. Globalization has been bonanza for the consumers however grave for the small-scale Indian producers.
Positive Effects of Globalization
- Globalization has affected the Indian students and education sectors to a great extent by making available study books and huge information over internet. Collaboration of foreign universities with the Indian universities has brought a huge change in the education industry.
- Health sectors are also affected a lot by the globalization of common medicines, health monitoring electronic machines, etc.
- Globalization of trade in the agricultural sector has brought variety of quality seeds having disease resistance property. However it is not good for the poor Indian farmers because of costly seeds and agricultural technologies.
- It has brought a huge revolution to the employment sector by the spread of businesses like cottage, handloom, carpet, artisans and carving, ceramic, jewellery, and glassware etc.
Globalization has brought variety of affordable priced quality products and overall economic benefits to the developing countries as well as employment to the large population. However, it has given rise to the competition, crime, anti-national activities, terrorism etc. So, together with the happiness it has brought some sadness also.
Globalization is positively needed by the society and country to go ahead and become a developed society and nation. A range of globalization essay is given above to help students getting education in various classes. Essay on globalization given above are easily worded and written by the professional content writer by keeping in mind the need and requirement of students. You can also get other related essays and related information such as:
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