M1 (TO) Response

NEED FOLLOW-UP RESPONSE TO PEER 

MUST BE A MINIMUM OF 2 PARAGRAPHS WITH 1 REFERENCE

ORIGINAL QUESTION:

Assignment 2: Discussion—Globalization as an Important Phenomenon

Globalization has been impacting business in a material way for the past 40 to 50 years. In recent years, this impact has been strengthening. Appreciating the impact of this trend and the driving forces is useful for today’s business professionals.

Research the topic using your textbook, Argosy University online library resources, and the Internet. Respond to the following:

• How important would you characterize globalization for developing business professionals? Take a position and provide evidence.
• What do you believe is the single most important force driving globalization in business? Present an argument for your position as to the most important aspect and include a discussion of forces which you believe to be less important.

STUDENT RESPONSE:

 In the case of globalization, I would be hard pressed to find an individual or an organization that has not in some way been affected by it in some way shape or form. Whether it be in education and the curriculum that is being taught as a response to global demand for specific skills and qualifications, or in local grocery purchase decisions and the content being either local or imported. Globalization has taken over every facet of our lives and innovations in communication, internet access, travel and other drivers have changed the way governments and the social or business units within them operate. So, I would say that globalization can be characterized as the current state of the world, and if any developing business professional wants to be successful in this landscape they need embrace, understand and navigate this phenomenon. Globalization, like many other things, has its pros and its cons, however, it is the benefits of globalization that causes it to spread like wildfire. “It is probably no mere coincidence that over the past 20 years, as a number of countries have become more open to global economic forces, the percentage of the developing world living in extreme poverty—defined as living on less than $1 per day—has been cut in half” (2008, IMF)

     I believe that the internet is the single most important force driving globalization. Communication is at the heart of any type of progress, as one has to be able to communicate new ideas, personal beliefs, processes and so on. The internet has radically changed not only the business world, but practically every other facet of life. The internet gives individuals, businesses, organizations, governments a platform to communicate while also given them seemingly unrestricted access to a never-ending pool of information. The growth and globalization driven by the internet can be compared to the industrial revolution and breakthroughs in transportation efficiency that closed the gap in how nations made products and how they got those products to other countries. However, today, industry and transportation are pale in comparison to the digital revolution in terms of speed of scale. Back in 1990 only about 2.8 million people used the internet (which was 0.05% of the world’s population), less than 30 years later almost half of the world has internet access, with 67% of us own a cell phone. (2017, Sanou, B)

(2008) International Monetary Fund: Globalization: A Brief Overview. Retrieved from:https://www.imf.org/external/np/exr/ib/2008/053008.htm

Sanou, B. 2017. ICT Facts and Figures 2017. International Telecommunications Union (ITU). Retrieved from: https://www.itu.int/en/ITU-D/Statistics/Documents/facts/ICTFactsFigures2017.pdf

NEED FOLLOW-UP RESPONSE TO PEER 

MUST BE A MINIMUM OF 2 PARAGRAPHS WITH 1 REFERENCE