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Your assignment is to prepare and submit a paper on globalization and culture. Cultural impacts of Globalization on International businesses The term “Globalization” carries varying definitions but pr
Your assignment is to prepare and submit a paper on globalization and culture. Cultural impacts of Globalization on International businesses The term “Globalization” carries varying definitions but probably the most suitable definition comes from investorwords.com. The article defines globalization as the process of increasing the connectivity and interdependence of the world’s market and businesses. This process has speeded up dramatically in the last two decades as technological advances make it easier for people to travel and communicate and do business internationally. As cited by Satish Tandon (June 2004) an important and rather legitimate point that is often raised against globalization derives from its perceived impact on local culture. It is feared that as globalization spreads, it will obliterate local cultures everywhere by homogenizing societies across the globe. In fact, this is probably the only point on which most countries, except America, agree. The French, the Germans, even the British, have problems accepting American cultural penetration that globalization entails. The loyal international clientele, cutting across segments of class, society and population, of big American multinationals such as Coca-Cola is evidence of the immense power of corporations to spread a global consumer culture. Expanding the geographic footprint of any business in the era of globalization is not at all a perilous and costly job as it has been in the past. To remain competitive in today's scenario aggressive measures should be implemented to expand business. Through globalization businesses are able to meet demands on the international market easier than ever. Through this phenomenon they are better able to gain market share, utilize their natural resources and provide competition to competitors for the benefit for consumers. Impacts of globalization on international businesses include. natural advantages, trade opportunities and outsourcing and procurement opportunities. A natural advantage as explained by David Ingram, an e-how contributor is gaining access to markets around the world which allows each country to fully leverage its own unique natural advantages. A natural advantage is an edge that allows countries in specific geographic regions to produce particular products or commodities at a lower cost or higher quality than others, whilst trade opportunities can be seen as opportunities for importing and exporting products and services. With reference to the said source, outsourcing and procurement is when less expensive, foreign labor is used for activities traditionally performed at home. With reference to Abhay Burande, a contributing author to buzzle.com sates that it is claimed that globalization increases the economic prosperity and opportunity in the developing world. The civil liberties are enhanced and there is a more efficient use of resources. All the countries involved in the free trade are at a profit. As a result, there are lower prices, more employment and a better standard of life in these developing nations. According to the views of developing countries, globalization increases phobia of inequality, conflicts and instability. They cannot compete in business deals or cultivate their cultural values as compared to the developed countries. However, such doubts are futile as globalization is a positive-sum chance in which the skills and technologies enable to increase the living standards throughout the world. Globalization has a lot of benefits attached to it. For one it acts as a social collaboration that not only integrates a society to a larger world economy but also roots out its flaws. Globalization nourishes innovative ideas and can be easily implemented. The theory of globalization enables us to share and adopt culture of other countries. It's a unity of world culture where people are able to share their beliefs, rituals, values, and goals. An article by Shashanke Nakate from buzzle.com, states that culture and understanding culture plays an important role in making the cross-over into international markets. She states distinctively that the international business culture, as a whole, is a congregation of various business practices, cultural influences and the thought processes followed in different nations. The various things that impact an international business are mannerisms, communication, time, etc. furthermore, every nation has a separate culture. a part of which is reflected in the behavior and the body language of the people. In an international business, understanding the undercurrents beneath the mannerisms or gestures becomes necessary. There are chances that behavior might get misinterpreted by people from different cultures. Thus, it requires a skilled coordinator to handle challenging situations during meetings. One of the most important has to be communication. The way of communicating could be different in different cultures. The terms used by some might sound harsh to others-the way in which words are pronounced to impact the intercultural communication in the corporate houses. In fact, it is one of the major hindrances in the process of business communication. Works Cited. Ingram, D., Positive effects of globalization in business (Jan 11, 2011), retrieved from http://www.ehow.com/info_7757947_positive-effects-globalization-business.html Investorwords.com, ‘what is globalization’, (n.d) retrieved from http://www.investorwords.com/2182/globalization.html Nakate, S., cultural impacts on an international business, (2011), retrieved from http://www.buzzle.com/articles/culture-impacts-on-an-international-business.html Tandon, S. globalization and culture, (2004) retrieved from http://www.satishtandon.com/globalculture.
