Research paper : Computer Science

Implications of Ever-Increasing Globalization through Technology to the Global Economy.You copied and pasted your title for your work from bstcmsplugins? This is inappropriate first off and uncited as well = PLAGIARISM

Globalization today is deemed a vital concept, especially to third world countries. Globalization, in itself, incorporates technology to help improve the international poverty levels and discuss various techniques of creating wealth (Kovács and Kot, 2016). Noteworthy, globalization not only comprises the what, but also entails the why, the how, and the depth with which things happen. It also involves the social penalty of the various procedures that many people get involved in. It is essential to understand that globalization plays a significant role in making sure that people understand the versatile nature of global procedures. This technique is generalized as hybridization.

In the recent past, an array of developments has taken place globally as a result of incorporating technology. For instance, the internet offers ascends to E-commerce, E-business, which improves various businesses and organizations through extensive and intensive research. In a nutshell, many companies tend to set up their premises in their countries of origin and exchange worldwide without being ceased by obstructions. Burlacu, Gutu, and Matei (2018) assert that websites such as amazon, borders, and eBay have jumped up due to the internet and later changed the way private companies carry out their operations. Technology, with the help of the internet, gives a less expensive, faster method of correspondence amongst various businesses and its purchasers around the world.Copy and pasted from bestcmsplugins and uncited = PLAGIARISM

With increased globalization through the use of technological innovations, the paradigm shifted, and product or service development became on the rise during the 21st century. According to Suci, Asmara & Mulatsih (2016), the developing and underdeveloped countries have managed to enter into the mainstream of the global markets despite the tight competition. It is essential to understand that globalization implication with the help of technology has increased and varies from one country to another. The most significant improvements as a result of technology include the following.

Competition and competitiveness

Through technological globalization, the world managed to become a global village. It provided a conducive platform where buyers, sellers, and transactors could manage to carry out discussions and negotiations in real-time (Marinov, 2017). This technological development annihilated the geographical and trade barriers because most of the businesses and firms became in equation with each other. Furthermore, these advancements in technology provided a window of opportunity to the companies to stop competing locally and started engaging themselves on a global basis competition. In most cases, many buyers can get their goods and services from all corners of the world and not necessarily from their backyards like in the past. Additionally, small firms are now operating like local-global firms because they have the onus of providing world-class goods and services.

Jobs Change From Costlier Origins To Affordable Destinations.

Countries like the US, UK, Canada, and Australia have been able to empower technological advancement by restricting their budgetary constraints, government regimes and rules, environmental laws, and disruptive tax laws (Kumar, 2017). This move has given a chance to third world countries such as India, Pakistan, and Kenya, Sri-Lanka, or the Philippines to create significant employment opportunities for their people.

Economies of Scale

Technological globalization is intensely celebrated for significantly reducing production costs and affecting the selling prices of products, goods, services, and consumables. This was, in fact, due to large scale production, massive networking distribution, and optimum capacity utilization. Cases of price differentiation on the same products in the same location make one seller gain more profits from economies of scale while others do not. Although it might look as being unfair, it is the sad truth of the matter. Based on research by Mathur & Sai (2018), the effects of economies of scale also results in smaller firms to get marginalized and eliminated from the market systems. This is because such firms cannot compete primarily in price-wise with large firms. Economies of scale only favor more significant firms to the detriment of minor or upcoming firms.

Impacts on the Labor Market

Technological consequences have induced globalization to the manifold. Cases of reduced demand and need for manual production means and support systems to maintain enterprises are reported regularly. In the 21st century, global operations and its accent depend solely on electronic and digital means. Kumar (2017) avows that Incorporating high-speed machines such as the CAD, and CAM has tremendously increased the influences of contemporary quality and cost controls.

This involves using six sigma, TQM, Lean management, and modernized stock controls like the JIT, PIS, and EOQ. All these advancements are easily manageable after inducing technology to globalization. Furthermore, using the modern version of computers and the internet facilitates secure communications, video conferencing, and other necessary electronic and computer-controlled methods of communication in business. However, one main disadvantage of this technological advancement is that it reduces the employment levels by using more machines.

Survival for the Fittest and Strongest

It is significant to understand that technological globalization has enabled many countries to have the ability to offer strict and robust protection and security to confidential documents. Unlike in the past, most state governments can store relevant and vital documents safely through the internet through a strong and sensitive password. Furthermore, most firms, both big and small, regional, and domestic, have been drawn to the competitive arena and have no escaping ability. They have to either perform exemplary or risk perishing. The state no longer offers protection to such firms (Mathur and Sai, 2018).

The Sustainability and Life Span Of Technological Globalization

The vast majority of third world countries that have an underdeveloped economy tend to stick in a state of flux and dilemma. They are not sure if advancements in globalization technology would benefit or destroy them more. However, people in these countries need to understand that an array of advantages is accrued to the minority advanced, development, and technologically more powerful nations and world economies.

An increase in knowledge has also been achieved through this global advancement in technology. The World Wide Web connected the entire globe to have full access to information that might be needed by various people in different parts of the world. According to Kovács & Kot (2016), numerous search engines have provided adequate information to researchers, students, and politicians on the ways they need to conduct their roles in their respective countries. Businesses in many countries have turned out to be transparent as a result of the surge in telecommunication that enabled the global exchange of data to be possible. Better banking systems have also been identified where most banks in the world tend to progress with every new technological advancement. Facilities such as the RTGS, NEFT, and the IMPS have facilitated the easy, fast, and convenient transfer of funds on a global scale.

Better transportation systems like GPS, cellular, and Wi-Fi signals and satellite tracking have helped revolutionize the way people travel today. In most countries, businesses today use technology to increase their cargo ships and other vessels' efficiency, which helps save time (Ibeh, Tolentino, Janne, and Liu (2017).

However, developments also have their setbacks. For instance, globalization in technological advancements has failed to create livable cities. The primary purpose of this move is to help discover the long-term, sustainable solutions, and raise easy access to educational technology and sources related to worldwide and domestic communities. Copy and pasted from bestcmsplugins and uncited = PLAGIARISM

Passi (2019) asserts that if humans' skills are required to achieve this dream, many policymakers in developed countries will come up with strict measures of limiting brain drain at all kinds of prices. To fully be rendered capable of using the computer, a certain degree of information literacy will be one of the critical requirements.

Conclusively, globalization has played a significant role in every aspect of modern life and continues to become a growing force in the current global economy Copy and pasted from bestcmsplugins and uncited = PLAGIARISM

. When an array of disadvantages are experienced in the global economy, most of the world economists tend to discuss and agree on a force that is more beneficial and unstoppable to the world economy. According to Passi (2019), even though there have always been numbers of nationalism and protectionism in the past, globalization has continued to be the most extensively accepted way of ensuring there is a consistent economic growth in the whole world.

Furthermore, it is essential to understand that besides exacerbating the economic inequalities in today's world, the race usually experienced in technological leadership, and its supremacy tends to be dangerous. This is about extreme and extensive competition, which entails all the risks and has very few advantages. Based on research by Burlacu, Gutu & Matei (2018), in as much technological globalization might work well for all our countries, it all depends on conjecture. One country's gains are equivalent t to the losses incurred by another country, especially in the employment sector. The technological globalization is therefore considered to be a David versus Goliath situation. The only difference is that this battle makes goliath emerge the winner for his extensive advancements in technology.

References

Burlacu, S., Gutu, C., & Matei, F. O. (2018). Globalization–pros and cons. Calitatea, 19(S1), 122-125.

Ibeh, K., Tolentino, P. E., Janne, O. E., & Liu, X. (2017). Introduction: Towards advancing the growth of international businesses and the global economy. Growth Frontiers in International Business (pp. 1-9). Palgrave Macmillan, Cham.

Kovács, G., & Kot, S. (2016). New logistics and production trends as the effect of the global economy change. Polish Journal of Management Studies, 14.

Kumar, A. (2017). Globalization and its impact. BrdU International Journal of Multidisciplinary Research.

Marinov, M. A. (2017). Introduction: Marketing in emerging economies. In Research Handbook of Marketing in Emerging Economies. Edward Elgar Publishing.

Mathur, A., & Sai, S. (2018). The Rise Of Emerging Powers in International Trade and their Impact on Economic and Political Stability. European Journal of Sustainable Development, 7(4), 159-159.

Passi, R. (2019). Unpacking economic motivations and non-economic consequences of connectivity infrastructure under OBOR. In Mapping China's 'One Belt One Road'Initiative (pp. 167-195). Palgrave Macmillan, Cham.

Suci, S. C., Asmara, A., & Mulatsih, S. (2016). The impact of globalization on economic growth in ASEAN. Bisnis & Birokrasi Journal, 22(2), 79-87.