The Consequences of Globalization in Australia - 1293 Words

What factors are involved and consequences of globalisation for Australia? Much discussion has been conducted on the topic of globalisation of the world of economy. Globalisation may be defined as the increasing economic and financial integration of economies on a global scale. Factors enabling globalisation include the change in technology which is the socialised knowledge of producing goods and services, as well as the reduction in the protection of the world economy such as the successive reduction in trade barriers since the Second World War. Consequences that arise as a result of Globalisation are known to be both positive and negative. One consequence faced by Australian businesses and industries is the aggravation of unemployment. Another is competition, in which demand and supply are balanced out by a regulatory function when businesses challenge each other by offering the best price, quality and service of their ability. A change in technology has been a main facilitator and driving force of most of the globalisation processes. Improvements in the capacity to produce have been made applicable through technology. The spread and speed of knowledge transfer and communication have increased, meaning that Australian businesses are able to market products at a cheaper price and be exposed to a global market to compete. This is because it is a requirement for producing goods such as clothes and cars, as well as services such as banking and security. Technologically, mostShow MoreRelatedSociological Concepts Of Identity And Globalization1083 Words   |  5 Pageschanging. (Kreiken 2011, p2) thus it is only natural that sociologists are intrigued at how relationships operate and their evolution over the past century. This essay will endeavor to critically examine the sociological concepts of identity and globalization, and the manner in which they have swayed the aspect of human relationships in Australian society, over the course of history. My Japanese grandparents’ generation, which will be referred to as ‘Generati on X’, will also be considered by analyzingRead MoreGlobalization and Cultural Homogenization Essay1497 Words   |  6 PagesThe rapid development of economic globalization and cultural globalization enhances cultural transaction between different countries. Even though in this process culture between different countries still has its own characteristic on the whole, the cultural homogenization has been presented in social life, especially in the media industry. This essay will discuss the definition of globalization and cultural homogenization, and the popularity of Hollywood movies in China, the phenomenon of convergenceRead MoreImpact of Globalization on Development of Business1520 Words   |  6 Pagesï » ¿Introduction Globalization, a process that covers the causes, the course as well as consequences of the transcultural and transnational integration of both human and the non-human activities is of great importance to organizational dynamics (Al-Rodhan 5).The concept of globalization is noted to be a trend which is timeless and evolutionary. It is therefore a process which generates connections and flows, not just across various nation-states as well as national territorial boundaries alone butRead MoreGlobalisation: a Study of Traditional Communities in Change Essay1439 Words   |  6 PagesGlobalisation: A Study of Traditional Communities in Change It has been argued that social changes in the contemporary world have resulted in local communities not being sustainable in its traditional form. Globalization has been a leading component of this social change that has accelerated in recent times. Hawkins (2006) has defined globalisation as a process by which the world’s societies and cultures are becoming increasingly interconnected and interdependent. Whilst this process has helpedRead MoreEssay on Leadership Challenges and Strategies in a Post-GFC World1460 Words   |  6 Pagesthis discussion is to discuss about these mentioned above. Firstly, there are many business leadership challenges and suitable solutions that could be applied in the post-GFC world. Globalization is the first one to involve in. According to Voegtlin, Patzer, and Scherer (2012, p.2), the negative side outcome of globalization lead to a corrosion of corporate legitimacy, a loss of public trust in directors and partnerships, and to the deterioration of social capital. To solve this, CSR has become a motivatedRead MoreI Am An Plan Of The Next Year During My Master Of Business Management Program1612 Words   |  7 Pagesspecialized college. In the wake of finishing my BBA i came to Australia for my masters, now i am seeking after MBA from APIC. To the extent my family is concerned i have one sibling who is doing graduation. My dad runs family business and my mom is housewife. To the extent about myself i am benevolent individual, i like to travel. I want to work in a group and i can work for quite a while in any environment. I want to make new c ompanions as in Australia i additionally made my companions in APIC. To the extentRead MoreEssay on CONTEMPORY MANAGEMENT2692 Words   |  11 Pagesimplications of globalization for Australian business and discuss whether Australia should become more integrated into the global economy Australia is an excellent object of study of globalization and its implications for business as its economic structure is at an unusual mid-way point. New market opportunities, competitive threats and opportunities alike have been the key drivers of globalization since the 1980s. This essay analyzes a variety of topics to determine whether Australia should becomeRead MoreGlobalization Has Created A Tremendous Impact On The Lives Of Women And Men Globally1103 Words   |  5 Pages Within the past decades, globalization has created a tremendous impact on the lives of women and men globally. Globalization denotes the process in which economic, financial, and technical transactions between different countries and communities throughout the world are becoming increasingly interconnected (Pearson). Yet in the beginning of the millennium, contemporary globalization has additionally taken more of a human form, as it has integrated and interconnected a collectivistic mass cultureRead MoreTho mas Friedm The World Is Flat1021 Words   |  5 PagesFriedman, a veteran award winning American journalist, speaking of his visit to Bangalore in India to work on a documentary based on outsourcing, and how his meeting with the then CEO of Infosys influenced him in writing his book where he analyzes globalization and lists out the various factors that led to a â€Å"flat† world. Mr. Friedman then continues and briefly summarizes the first three chapters of his book and how he derived them. The World is Flat Mr. Friedman uses a metaphor in the title and envisionsRead MoreThe Impact Of Globalization On Business Activity Communications And Movements Of Individuals Over The National, Political And Geographic Boundaries1401 Words   |  6 Pagesto Hill, there are two main facets of globalization, includes globalization of markets and production (Hill, Cronk, Wickramasekera, 2014). The historically different and distinctive national markets are integrating into a single huge global marketplace in which the perceptions and preferences of customers in different countries are beginning to unite as a single global standard; examples are McDonald’s hamburger (US), IKEA furniture (Sweden). The globalization of production allow firms to locate products