Globalization in International Business

Module 1 Discussion

The discussion posts in this class require professional essays and are worth 10 points in total each week.

Original discussion thread post due by Thursday at 11:55PM (EST)
Globalization in International Business
Describe the drivers and factors of globalization
Discuss the pros and cons of globalization
Take a stand, what is your position on this topic?
Cite 2 different sources. The textbook can be one of the sources
Other Requirements
The original post must contain a minimum of 300 words. Students must demonstrate critical thinking by paraphrasing the material into their own words
All citations should be in APA format with a reference listing at the bottom of the post.

Two reply posts are due by Sunday at 11:55PM (EST)*
Review other students’ posts before deciding what and where to structure reply posts. Students must post a minimum of 2 replies that must be unique to other students. Replies should build upon the original discussion thread (and other replies posted prior) with further details on lesson concepts, additional research, business examples, etc.
Replies require short essays and must contain a minimum of 100 words each. Replies must be constructive which means they do not simply state agreement or disagreement re-highlighting points already made in prior posts. Replies must offer additional information or input to the discussion and lesson concepts.
Research Help
All cited articles in this course must come from a reliable source to earn credit. If you need help with research, there is assistance available. Review the following resources:

Learning Resources Services for Students
SPC Online Library
Ethics Research LibGuide
Ask-a-Librarian
Learning Resources
Learning Resources’ Contact Information Guide
Academic Search Complete
America’s News
Discussion Rules

Do not attach files (or drag and drop) to Discussions. Attachments will receive 0 points, as other students should not have to read attachments. This is to avoid spreading viruses. Do copy and paste to the Discussion topic.
Assignment posts will be graded for content and completion. College-level grammar, spelling, and punctuation are always required.
Your assignment post must meet the minimum word count when one is given, and include the word count.
Read the reply posts to your assignment post, especially if they are from your professor.

ANSWER

Globalization in International Business

Drivers of Globalization

One of the leading drivers of globalization is technology. Technology has shaped and set the foundation for modern globalization. It has revolutionized the growth of the international business. Some of the most important developments include commercial jet aircraft, telecommunication, and the rapid growth of the internet (Moak, 2017). these three enable businesses to expand easily, and they can also predict their consumer trends globally, which enables them to make adjustments and make their products to the taste of their consumers. Telecommunication has also enabled the low cost of communication across countries, and thus businesses can smoothly operate in many countries while still maintaining effective communication.

Market demands

Domestic markets are becoming more saturated, which means that companies need to explore the global markets (Moak, 2017). Expanding globally is one way for organizations to overcome the saturated domestic markets and also to ensure that they still have a competitive advantage and that the organization keeps growing.

Cost-effectiveness

Sourcing efficiency and the costs of sourcing vary from one country to the next. Global organizations take advantage of this and create opportunities for outsourcing some of their work to countries that offer cheaper and more efficient labor (Moak, 2017). Globalization also offers the opportunity for organizations to build scale economies and also to develop their products. This has led to many organizations deciding to go global to reduce the amount spent on labor and increase their growth opportunities.

Pros and Cons of Globalization

Pros

1. Globalization increases access to goods and services. Globalization increases access to goods and services and ensures that services are provided at lower prices. Business owners benefit from globalization as it gives them a broader market (Burlacu et al., 2018). Any good that one has bought and it came from abroad is evidence that globalization broadens access to goods and services.
2. Globalization increases opportunities for developing countries, thus lifting them out of poverty (Burlacu et al., 2018). Opinions differ on the quantity and quality of jobs created by globalization, but generally, globalization creates opportunities and also helps in the development of economies that lifts people out of poverty.
3. Globalization increases cultural awareness. Organizations expand in different countries, and through the expansion, it increases diversity. This increases cultural awareness among the employees of the company and the leaders.

Cons

1. There are chances that workers might lose their jobs to workers from countries with low-cost labor. Organizations aim to cut their costs, and thus if outsourcing to low-cost countries will increase their profits, they might decide to take the jobs away from their workers and outsource them to companies that are providing labor at a lower cost (Burlacu et al., 2018).
2. Globalization empowers multinational organizations, but it does not help governments and citizens. It reduces state sovereignty, and citizens do not have the ability to lead their leaders accountable for the conditions in their countries.

Globalization has done more good than it has done harm. Globalization has helped businesses grow. It has also helped consumers widen their states and also have variety.

References

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

Moak, K. (2017). Globalization: Drivers and Effects. In Developed Nations and the Economic Impact of Globalization (pp. 19-47). Palgrave Macmillan, Cham.