Learning Journal on Globalisation

Published: 2021-09-10 08:35:10
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 [pic 1] Managing Across Culture III  Done By:Boh Zhuang Yi, Renee                                                                A1714665   Learning Journal Selected: Tutorial 4 – Cross Cultural CommunicationLecturer: Mr John KnightDate of Submission: 18th June 2017By submitting your assignment you are agreeing to the following:I declare that all material in this assessment is my own work except where there is clear acknowledgement and reference to the work of others. I have read the Policy on Cheating in Examinations and Related Forms of Assessment. I have also read the University's .I give permission for my assessment work to be reproduced and submitted to other academic staff for the purposes of assessment and to be copied, submitted and retained in a form suitable for electronic checking of plagiarism.Tutorial 1 – Learning Journal on Globalisation “One of the fundamental questions of today’s world is undoubtedly the question of equitable globalisation.” - Janez Drnovsek. (A-Z Quotes, 2017). Globalisation is the process of deeper integration of markets in the global economy, leading to the increased interconnectedness of national economies. As a result, globalisation has increased the production of goods and services and it leads to massively increased trade and cultural exchange between countries. Subsequently, it leads to biggest companies are no longer national firms but multinational corporations with subsidiaries in many countries. Globalisation is not just a recent phenomenon and it has been taking place for hundreds of years, but today’s commerce is far more developed and deeply integrated than they were at that time. Globalisation has resulted in:Improved standard of livingIncreased international tradeA company operating in more than one countryMore wealth to local economiesFree movement of capital, goods, and servicesCultural exchange and contactThere are several key factors which have influenced the process of globalisation. Containerisation, technological change, economies of scale, differences in tax system, less protectionism are some of the most important globalisation drivers outlined. (Appendix 1.1). Globalisation is one of the major reasons for the expansion of transactional and multinational corporations (TNCs) in the global economy. By setting up factories and businesses they are spreading information and businesses around the world.It turns out globalisation is good and not just for the rich, but especially for the poor as mentioned by Robyn Meredith and Suzanne Hoppough. (Forbes.com, 2007). One of the article have provided the economic impact of globalisation on developing countries. The booming economies of India and China–the Elephant and the Dragon–have lifted 200 million people out of abject poverty in the 1990s as globalisation took off as stated by International Monetary Fund. Countries such as India and China have embraced capitalism in the new millennium and opened up free trade, private entrepreneurship, income inequalities, and at least a decent minimum of property-rights protection and other aspects of the rule of law to foreign investors which has created an explosion of growth in their economies. (Sorman, 2015).  Emerging nations such as BRICs —Brazil, Russia, India, and China lack of access to capital and opportunities to learn new skills. Thanks to globalisation, foreign investment has also brought new jobs and provide opportunities for the poor to extricate themselves from poverty around the world.

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