PCTE BBA-1-C PRESENTATION

TOPIC-PROS&CONS OF GLOBALIZATION
PRESENTED BYPRESENTED TO-

ANKUR NISHANT TARUSH JITEN

Mrs. NIDHI VERMA

GLOBALIZATION
What Is Globalization? Globalization is a process of interaction and integration among the people, companies, and governments of different nations. Its possible by international trade and investment and aided by information technology.

CONT.
It effects on the environment, on culture, on political systems, on economic development and on human beings in societies around the world. Globalization is not new, though. For thousands of years, peopleand, later, corporationshave been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages .

Pros and Cons of Globalization

PROS OF GLOBALIZATION
Now there is a worldwide market for the companies and people can access different products of different countries. There is a steady cash flow into the developing countries .

There is cultural intermingling and each other is trying to know about the others cultural preferences .

Cont
Since we share financial interests, corporate and governments are trying to sort out ecological problems for each other. Socially we have become more open and tolerant towards each other . From GLOBALIZATION now Indian girls work in call centers and work nights, which was a taboo even two years back. We are celebrating Valentines Day, scraping on Orkut etc.

CONS OF GLOBALIZATION
Europeans are losing jobs and thats a problem for them since the companies are outsourcing work to the Asian countries since the cost of labor is low and profits the company considerably. Corporates are building up units in other countries equally well equipped as they have done at their own country, thus transferring the quality to other countries, which is risky.

Cont.
There are some experts who think that globalization; along with the positive aspects also brings communicable diseases and social degeneration. There is also a threat of corporates ruling the world because there is a lot of power, which is invested in them due to globalization. There is immense pressure on the employed Europeans who are always under the threat of the business being outsourced.

Globalization in India
Globalization in India has allowed companies to increase their base of operations, expand their workforce with minimal investments, and provide new services to a broad range of consumers. Globalization has played a major role in export growth, leading to the enlargement of the job market in India.

Cont.
For e.g.- growth of business process outsourcing (BPO) services in India. The last few years have seen an increase in the number of skilled professionals in India employed by both local and foreign companies to service customers in the US and Europe.

Notable examples of international companies that have done well in India in the recent years include Pepsi, Coca-Cola, McDonalds, and, whose products have been well accepted by Indians at large.

Factors affecting globalization

1. Technological change, especially in communications technology - For example, UK businesses and data by satellite to India where skilled but cheaper data handlers input the data and return it by satellite for the start of the UK working day.

2. Transport is much cheaper and faster - This is not just aircraft, but also ships. The development of containerization in the 1950s was a major breakthrough in goods handling, and there have been continuing improvements to shipping technology since then.

Cont.
3. Deregulation - From the 1980s onwards (starting in the UK) many rules and regulations in business were removed, especially rules regarding foreign ownership. Privatization also took place, and large areas of business were now open to purchase and/or take-over. 4. Removal of capital exchange controls - The movement of money from one country to another was also controlled. This allowed businesses to move money from one country to another in a search for better business returns; if investment in one's own country looked unattractive, a business could buy businesses in another country

Cont.
5. Free Trade - Many barriers to trade have been removed. Some of this has been done by regional groupings of countries such as the india. Most of it has been done by the WTO. This makes trade cheaper and therefore more attractive to business. 6. Consumer tastes -Consumer taste have changed, and consumers are more willing to try foreign products. The arrival of global satellite television, for example, has exposed consumers to global advertising. Consumers are more aware of what is available in other countries, and are keen to give it a try.

Impact of Globalization
Globalization has made way for free trade and business (and has communication between various parts of the globe.) It has potential to make this world a better place to live in It is changing the political scenario . It reduces problems like unemployment; poverty etc.

Cont
The marginal are getting a chance a to exhibit in the world market . The term "brand" is catching up in the Asian countries.

It, however, is not only modernizing but also westernizing and to an extent also interchanging the native cultures. There has been significant de-localization that needs individuals to be more tolerant since face-to-face interaction is no more the order of the day .

IMPACT LEVEL IN DIFFERENT COUNTRIES

Culture and Globalization

The foremost effect of globalization on the world is 'Westernization'. Westernization is a process, in which people practice or imitate western customs, lifestyle and ideas. Some societies find globalization as a dominating concept. It might effect on their lifestyle.

Cont
If a society has complex cultural conditions such as, gender or class, religion& ethnic people will really try to get rid of such westernization. According to the views of developing countries, globalization increases phobia of inequality, conflicts and instability . They cannot compete in business deals or cultivate their cultural values as compared to the developed countries.

Cont
One of the advantages of globalization is that it brings a worldwide identity.

Everyone can represent their own culture and business independently .

A country can take part in business deals as well as get a platform to share their culture with other.

It welcomes all countries of the world, to increase interdependency and bridge the economic gap between two countries.