Discussion E

While globalization of business can be seen as either good or bad depending on the

perspective and situation at hand, I overall believe that globalization at the very least

is important to multinational economies and individual businesses alike.

Globalization is said to be beneficial for not only the rich moguls who own large

companies, but also for the poor. “The booming economies of India and China--the

Elephant and the Dragon--have lifted 200 million people out of abject poverty in the

1990s as globalization took off, the International Monetary Fund says” (Hoppough,

2012).

Globalization also benefits individual businesses due to the simple fact that the

business is able to expand connections and markets outside of their home countries,

increasing opportunity inevitably. Overall, globalization is about “efficiencies and

opportunities open markets create. Business can communicate efficiently and

effectively with their partners, suppliers, and customers and manage better their

supplies, inventories, and distribution network” (Mourdoukoutas, 2013).

With my own business, eventually when I release a line of false lashes and other

beauty accessories, I would like to sell those on my website and make them

available internationally. The dream would be to partner with makeup chains in

other countries and have my products carried in those stores. I’d also love to travel

and perform the service aspect of my business internationally. Both of these moves

would expand my market base and increase opportunity for revenue with the

products, and for international exposure in terms of my services.

References:

Hoppough, R. M. (2012, July 16). Why Globalization is Good. Retrieved November 22,

2017, from https://www.forbes.com/forbes/2007/0416/064.html#126384001e65

Mourdoukoutas, P. (2013, January 22). The Good, The Bad, And The Ugly Side Of

Globalization. Retrieved November 22, 2017, from

https://www.forbes.com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-

and-the-ugly-side-of-globalization/#3a3e0d12483f