MI 607 Activity 4 Effects of Globalization

Effects of Globalization

Student’s Name

Institutional Affiliation

Effects of Globalization

The Effect of Globalization on an Individual’s Personal Life

On a personal level, globalization has affected every aspect of my life starting from when I wake up in the morning from my warm and cozy bed, with duvets made from China. These warm duvets would have been made here in the United States but globalization has made it possible for individuals like me to purchase cheaper products from other nations as result of increased trade between nations (Goyal, 2016). Moreover, after getting out of bed, I take my breakfast which consists of an apple or an orange juice from a European country. Globalization affects the mode of dressing and the fashion industry in general through distribution, production, and marketing channels. Personally, it has enabled me to be informed and be updated on the latest trends and fashion through social networking channels such as Facebook or through the media such as the television. The clothes that I am wearing today are totally different from the ones I wore 15 years ago because the cotton used could be from a foreign country, as the U.S has gradually lost dominance as the major exporter of cotton. I have a couple of cotton dresses and pants from India which is one of the major cotton producing countries.

Furthermore, globalization has enabled me to get quick access to the internet and digital platforms (Meyer, 2017). For example, I’m able to watch similar channels with people in the different parts of the world, thanks to digital TV. It provides a variety of channels consisting of kid’s cartoon channels, global news from different parts of the worlds as well as adult content programs. I can as well be able to listen to different radio shows from all over the world from my digital TV at the comfort of my home. Globalization has also affected my religion because I believe in the doctrines and faith of a religion based in Europe that was founded many years ago. It has also enhanced faster transportation and I was able to travel to Dubai that is several miles away for my vacation, thanks to globalization.

The Effect of Globalization on an Individual’s Professional Life

I was privileged to interview three individuals from three different companies to understand how globalization has affected their professional life. Individual A from Company A, informed me of how globalization has increased cultural diversity in their workplace (Goyal, 2016). The employees of the company come from different cultural backgrounds and this has made him appreciate the different cultures, respect t opinions, and ideas from different people which in also helps in boosting creativity and growth of the company. Another point he mentioned is, globalization has led to higher standards at his workplace (Ozer, Meca, & Schwartz, 2019). Technology has enabled people to be globally connected and workers all over the world to get awareness of issues affecting them. Thus, companies such as the one he is working with have been forced to comply with the required standards such as improved working conditions. Individual B from Company B works in a manufacturing company. He mentioned that globalization has negatively affected his job because he now gets a lower wage (Meyer, 2017). This is because his company has outsourced labor from other countries whose workers are willing to do the same job at a lower wage. Individual A is an unskilled worker and his job is easy to outsource since it requires less education or training to undertake.

In addition, he also mentioned how globalization has resulted in fewer manufacturing jobs in the United States. In 2001, China became part of the World Trade Organization enabling it to have access to the U.S market. As a result, Chinese companies exported a large number of low-priced products to the U.S. market compared to what the U.S. could export to China. The effect of this is that millions of Americans lost their jobs especially those who worked in companies that produced textiles, furniture, and electronic parts. The last person I interviewed from Company C also agreed that globalization has had an impact on his professional life. He works with an international NGO and most of his colleagues come from different cultural backgrounds and speak different languages. Therefore, employees in this kind of organization might find a problem trying to connect with each other. To solve this problem, Individual C mentioned that the company conducts cultural competency training in order for all the employees to have the right tools to perform their duties efficiently with diverse cultures.

The General Impact of Globalization in the World

References

• The world we are living in today is a result of the different cultures embracing each other. Also, societies have grown due to welcoming people from different nations and cultural backgrounds and creating a whole new culture with new beliefs and values of their own (Ozer, Meca, & Schwartz, 2019). Languages, dressing styles, cooking styles, and customs have widely spread across the world as a result of globalization.
• Globalization has enhanced competition in trade leading to improved quality goods. For example, local companies have been forced to improve their standards so as to survive and compete fairly with foreign companies entering their market.
• Globalization has also contributed to the utilization of resources. The developed nations require human and natural resources from the developing countries whereas developing countries need machinery, capital, and brainpower from developed countries (Meyer, 2017). The economies of developed countries largely depend on the human and natural resources of the developing countries.
• One of the negative impacts of globalization is job insecurity (Meyer, 2017). Several workers in developed countries have lost their jobs because manufacturing companies have outsourced jobs to developing countries where the overheads of wages and manufacturing products are much less than in their countries.
• Fluctuation of prices is also a negative effect has a result of globalization. Increased global competition has forced developed nations to reduce prices of their goods since countries like China manufacture products at a much lower cost making their products cheaper compared to those made in developing nations such the United States.

Goyal, K. (2016). Globalization and its impact on transforming India’s economy. International Journal of Research in Management and Business Studies, 3(4), 23-39.

Meyer, K. E. (2017). International business in an era of anti-globalization. Multinational Business Review, 25(2), 78-90.

Ozer, S., Meca, A., & Schwartz, S. J. (2019). Ozer, S., Meca, A., & Schwartz, S. J. (2019). Globalization and identity development among emerging adults from Ladakh. Cultural Diversity and Ethnic Minority Psychology, 3(1), 12-19.