Benefits of Globalization Essay Example
Globalization has been a very relevant thing in people’s lives, for a long period of time now. As the video “Globalization Explained” it described globalization as people around the world learning, understanding, and creating new things and sharing them with other people around the world, to better help each others businesses. It also can be known as a method that business take to try to operate their company at a larger scale or even a global scale. It is the spread of products as well as knowledge and information to jobs and people around the globe. The main reason globalization is as relevant as it is today is because of the enormous advances in technology the world has made. Such as, airplanes, automobiles, cellphones, and the interment. Therefore, in this paper I’m going to better explain the relevance and the major benefits of globalization.
The first major benefit for globalization is the exchanging in services. Exchanging services is a huge reason that globalization is even possible. The exchange of products between companies is a big reason most companies out there can even stay afloat. It’s so important in business because it helps out two or more parties to better help their companies, such as it helps out areas in your business that may be weak by exchanging things you may have a surplus in. Then after this exchange it helps your company grow by networking with other parties and it helps your business to be more profitable by giving it more of a chance to expand. Another major benefit with the exchanging of services is it also creates the exchange of knowledge. Globalization helps that take place by the spread of products, technology, and so on. With the exchange of products between nations and businesses around the glob it helps people get a better knowledge for certain things such as their own product and other products by seeing just how certain people and companies handle their product and everything around them therefore created a better knowledge overall. People also can just simply exchange the knowledge they have on something as well, that happens as well with businesses. Also, culture is another benefit that can be exchanged. It allows countries in the world to better understand each other, they have the opportunity to pick up new beliefs and values and this all gets to take place when different businesses deal with other countries.
Globalization also levels out the playing field for businesses and helps balance out the market. This to me is one of the biggest benefits globalizations can do. It allows the bigger companies to not just completely take over the market by dictating the costs of everything. This is better known as the monopoly effect when big companies do that, the monopoly effect is when a company take over a certain market allowing them to completely control the market of their product. Globalization allows the smaller businesses to get a say in things, it does this by allowing the small business owner to attack new markets by giving them the opportunity to build a client base at any time by the power of social media and the web. Social media always allows you to create a market for your product by having free speech to advertise your product and then online selling allows you to sell to anyone know matter where there is in the world.
The last major benefit I’m going to go over with the benefits of globalization is the increase in sales in profits for companies. It allows this opportunity because it gives out a bigger target market, because with the whole world having the opportunity to see your product it gives such a larger range of people that could be interested in your product. People are no longer limited in only marketing and selling their product within their borders, with the digital market and the technology we all have come to learn to love today it allows us to expand our product. Therefore, giving the opportunity to have higher sales and to have more of a chance to have more of a profit.
To sum it up globalization has a lot of benefits such as the ones I went over, the exchange of services, knowledge, culture and how it allows the market to even out not allowing large companies to take over as well as giving business and people more of an opportunity to make a profit and expand their market. Yes, there are cons like there can be for anything such as people believe it can create a system where the rich have control and create an influence over everything or it’s said richer regions will always consume more resources than anywhere else. However, to me there are more major benefits to globalization then cons. To me it allows opportunities for anyone anywhere to make a name for themselves and to expand their culture and belfies with anyone everywhere and this is all mainly possible with the power of technology.