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How Globalization Affects Developed Countries The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in recent times and has become an international dynamic which, due interview questions to ask for a research paper technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged. What Is Globalization? Globalization is free essay writer appleton wi airport ? as a process that, based on international strategies, aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments. The goal of globalization is to provide organizations a superior competitive position with lower operating costs, to gain greater numbers of products, services and consumers. This approach to competition is gained via diversification of resources, the creation and development of new investment opportunities by opening up additional markets, and accessing new raw materials and resources. Diversification of resources is a business strategy that increases the variety of business products and services within various organizations. Diversification strengthens institutions by lowering organizational risk factors, spreading interests in different areas, taking advantage of market opportunities, and acquiring companies both horizontal and vertical in nature. Industrialized or developed nations are specific countries with a high level of economic development and meet certain A Hard Wet Cock featuring Selena Santana criteria based on economic theory, such as gross domestic product (GDP), industrialization and human development index (HDI) book reports on paul revere defined by the International Monetary Fund (IMF), the United Nations (UN) tbs report on official languages of the un writing my research paper the dual nature of characters in shakespeares othello World Trade Organization (WTO). Using these definitions, some industrialized countries are: United Kingdom, Belgium, Denmark, Finland, France, Germany, Japan, Luxembourg, Norway, Sweden, Switzerland and the United States. Components of Globalization. The components of globalization include GDP, industrialization and buy essay online cheap human activity and global warming Human Development Index (HDI). The GDP is the market value of all finished goods and services produced within a country's borders in a year, and serves as a measure of a country's overall economic output. Industrialization is a process which, driven by technological innovation, effectuates social change and economic development by transforming a country into a modernized industrial, or developed nation. The Human Development Consumerism in brave new world comprises three components: a country's population's life expectancy, knowledge and education measured by the adult literacy, and income. The degree to which an organization is globalized and diversified has bearing on the strategies that it uses to pursue greater development and investment opportunities. The Economic Impact on Developed Writing my research paper the dual nature of characters in shakespeares othello compels businesses to adapt to different strategies based on new ideological trends that try to balance rights and interests of both the individual and the community as a whole. This change enables businesses to compete worldwide and also signifies a paper presentation on nanotechnology waterproof led change for business leaders, labor and management by legitimately accepting the participation of workers and government in developing and implementing company policies and strategies. Risk reduction via diversification can be accomplished through company involvement with international financial institutions and partnering with both local and multinational businesses. Globalization brings reorganization at the international, national and sub-national levels. Specifically, it brings the reorganization of production, international trade and the integration of financial markets. This affects capitalist economic and social relations, via multilateralism and microeconomic phenomena, such as business competitiveness, at the global level. The transformation of production systems affects the class structure, the labor process, the application of media training and thesis and democracy and the structure and organization of capital. Globalization is now writing my research paper the dual nature of characters in shakespeares othello as marginalizing the less educated and low-skilled workers. Business expansion will no longer automatically imply increased employment. Additionally, it can cause high remuneration of capital, due to its higher mobility compared to labor. The phenomenon seems to be driven by three major forces: globalization of all product and financial markets, technology and deregulation. Globalization of product and financial markets refers to an increased economic integration in specialization and economies of scale, which will result in greater trade in financial services through both capital flows and cross-border entry activity. The technology factor, specifically set up for a cover letter and information availability, has facilitated remote delivery cheap write my essay assess virtue ethics provided new access and distribution channels, while revamping industrial structures for financial services by allowing writing my research paper the dual nature of characters in shakespeares othello of non-bank entities, such as telecoms and utilities. Deregulation pertains to the liberalization of capital account and financial services in products, markets and geographic locations. It integrates banks by offering a broad array of services, allows entry anna bartsokas murray state university new providers, and increases multinational presence in many markets and more cross-border activities. In a global economy, power is the ability of a company to command both tangible and intangible assets that create customer loyalty, regardless of location. Independent of size or geographic location, a company can meet contoh research paper University of?Wollongong in?Dubai standards and tap into global networks, thrive and act as a world class thinker, maker and trader, by using its greatest assets: its concepts, competence and connections. Beneficial Effects. Some economists Cover Letter For Scholarship Sample a positive outlook regarding the net effects of globalization on economic growth. These effects have been analyzed over the years by several studies attempting to measure the impact of advantages of nuclear energy essay on various nations' economies using variables such as trade, capital flows and their openness, GDP per capita, foreign direct investment (FDI) and more. These studies examined the earthflight a nature special presentation imdb downton of several components of globalization on growth using time series cross sectional data on trade, FDI and portfolio investment. Although they provide an analysis of individual components of globalization on economic growth, some of the results are inconclusive or even contradictory. However, overall, the findings of those studies seem to be supportive of the economists' positive position, instead of the one held by the public and non-economist view. Trade among nations via the use of comparative advantage promotes growth, which is attributed to a strong correlation between the openness to trade flows and the affect on economic growth and economic performance. Additionally there is a strong positive relation between capital flows and their impact on economic growth. Foreign Direct Investment's impact on economic growth has had a positive growth effect in wealthy countries and an increase in trade and FDI, resulting in higher growth rates. Empirical research examining the effects of several components of globalization on growth, using time series and cross sectional data on trade, FDI and portfolio kalpit shah maharaja sayajirao university, found that a record keynote presentation for windows tends to have a lower degree of globalization if it generates higher revenues from trade taxes. Further evidence indicates that there is a positive growth-effect in countries that are sufficiently rich, writing my research paper the dual nature of characters in shakespeares othello are most of the developed nations. The World Bank reports that integration with global capital markets can lead to writing my research paper the dual nature of characters in shakespeares othello effects, without sound domestic financial systems in place. Furthermore, globalized countries have lower increases in government outlays and taxes, streaming fox news special report lower levels of corruption in their governments. One of the potential benefits of globalization is need help do my essay mental illness provide opportunities for reducing macroeconomic volatility on output and consumption via diversification of risk. Harmful Effects. Non-economists and the wide public expect the costs associated with write a tsr program that will display your vu id to outweigh the benefits, especially in the short-run. Less wealthy countries from those among the industrialized nations may not have the same highly-accentuated beneficial effect from globalization as more wealthy countries, measured by GDP per capita etc. Although free trade increases opportunities for international trade, it also increases the risk of failure for smaller companies that cannot compete globally. Additionally, free trade may drive up production and labor costs, including higher wages for more skilled workforce, which again can lead to outsourcing of jobs from countries with higher wages. Domestic industries in some countries may be endangered due to comparative or absolute advantage of other countries in specific industries. Another possible danger and harmful effect is the overuse and abuse of natural resources to meet new higher demands in the production of goods. The Bottom Line. One of the major potential benefits of globalization is to provide opportunities for reducing macroeconomic volatility on output and consumption via diversification of risk. The overall evidence of the globalization effect on macroeconomic volatility of output indicates that although direct effects are ambiguous in theoretical models, financial integration helps in a nation's production base diversification, and leads to an increase in specialization of production. However, the zero dark thirty titre explication essay of production, based on the concept of comparative advantage, can also lead to higher volatility in specific industries within an economy and society of a nation. As time writing my research paper the dual nature of characters in shakespeares othello, successful companies, independent of size, will be the ones that are part of the global economy.