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What is Globalization?

Globalization derives from the word globalize which means for something i.e. businesses to operate around the world; therefore globalization is the means of operating around the world. In this essay I shall clearly state what globalisation is by looking at the many aspects of globalization, what impact organisations have in context with globalisation, what impact globalisation has on the world and also look at the advantages and disadvantages of globalization. I shall also look at a case study on globalisation and try to explain how globalisation works.

Globalization can be seen on many different levels. The levels that it is most important are on an Economic level, Political level, Technical level, Social level, Legal level and an Environmental level. These levels at where globalization exists have many different ideologies based upon different theories and understandings of globalization. Globalizations main feature is expansion i.e. expansion of the economy worldwide, expansion of technology around the world even expansion of political ideas. Although expansion is a major feature of globalization it can also cause markets to become stagnant due to monopolistic markets such as supermarkets.  

‘Globalization refers to the widening and deepening of the international flow of trade, capital, technology and information within a single integrated global market’ (Petras and Veltmeyer 2001)

Globalization at an economical level is highly considered to be a ‘true’ meaning of globalisation. At this level the main aspects that are obvious are such things as the stock markets, money, finance and many more however, even these being major aspects of economical globalization other factors that can also be considered such as production and marketing of products and services. The production and marketing of products talking from buying clothing to government bonds either it is an injection into the economy, allowing it to circulate more money resulting in the growth of the economy.

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‘ the process that it describes, and which has gathered momentum since the 1970’s, is dominated by economic considerations and developments’ (Panić 2003)

Politics itself is globalized and therefore, an example of globalization. Politics play a major part everywhere in the world as politics controls substantially everything. Within this politics level would be organisations such as the United Nation and international law. Another part of the political level is the choices that governments of countries may make for example Tony Blair(former prime minister of the labour government in England) agreeing to go to war in Iraq with George W Bush ...

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