What Is Globalization

Globalization is a term that includes a wide range of social and economic variations. It can encompass topics like the cultural changes, economics, finance trends, and global market expansion. There ought to be positive and negative effects of globalization – it all comes as a package. Globalization helps in creating new markets and wealth, at the same time it is responsible for extensive suffering, disorder, and unrest. The great financial crisis that just happened is the biggest example of how negative globalization can turn. It clearly reveals the dangers of an unstable, deregulated, global economy. At the same time, this gave rise to important global initiatives, striving towards betterment. Globalization is a factor responsible for both repression and the social boom. What happens when there is a growing integration of economies across the globe? Majorly there have been positive impacts of this global phenomenon – through liberalization, privatization and globalization (LPG). Due to globalization, there has been significant flow of inward foreign direct investment. MNCs are getting a chance to explore various different markets across economies and explore the untapped potential. IMPACT OF GLOBALIZATION It was in July 1991, when foreign currency reserves had tumbled down to almost $1 billion; inflation was at a soaring high of 17%, highest level of fiscal deficit, and foreign investors loosing confidence in Indian Economy. With all these coupling factors, capital was on the verge of flying out of the country and we were on the brink of become loan defaulters. It was at this time that with so many bottlenecks at bay, a complete overhauling of the economic system was required. Policies and programs changed accordingly. This was the best time for us to realize the importance of globalization. MEASURE OF GLOBALIZATION Devaluation: The first initiative towards globalization had been taken the moment there was an announcement of devaluating the Indian currency by a hoping 18-19% against all the major global currencies. This was a major initiative in the international foreign exchange arena. The Balance of payment crisis could also be resolved by this measure. Disinvestment: The core elements of globalization are privatization and liberalization. Under the privatization scheme, bulk of the public sector undertakings have been/ and are still being sold to the private sector. Thus the concept of PPP (public private partnership) came up. Allowing Foreign Direct Investment (FDI): Allowing FDI inflows is a major step of globalization. The foreign investment regime has been quite transparent and thus the economy is getting boosted up. Various sectors were opened up for liberalizing the FDI regime. For successful globalization countries need to chalk out strategies and policies to open up the doors for the inflow of foreign direct investment (FDI). The FDI by the MNCs brings with it flow of foreign capital, inflow of technology’ real capital goods, managerial and technical skills and know-how. Globalization can easily promote exports of the country by exploiting its export potentials in a right way. Globalization can be the engine of growth by facilitating export-led growth strategy of a developing country. ASEAN countries such as Indonesia, Malaysia and Thailand have demonstrated their success of export-led growth strategy supported by the FDI under globalization approach. Globalization can provide sophisticated job opportunities to the qualified and also check ‘brain drain’ in a country. Globalization would provide varieties of products to consumer at a cheaper rate when they are domestically produced rather than imported. This would help in improving the economic welfare of the consumer class. Under globalization, the rising inflow of capital would bring foreign exchange into the country. Consequently, the exchange reserves and balances of payments position of the country can improve. This also helps in stabilizing the external value of the country’s currency. Under global finance, companies can meet their financial requirements easily. Global banking sector could facilitate e-banking and e-business. This would integrate countries economy globally and its prosperity would be enhanced. DEMERITS OF GLOBALISATION: Globalization is never accepted as unmixed blenings. Cities have pessimistic views about its ill-consequences. When a country is opened up and its market economy and financial sectors are well iberalized, its domestic economy may suffer owing to foreign economic invasion. A developing economy when lacks sufficient maturity, globalization may have adverse effect on its growth. Globalization may kill domestic industries when they fail to improve and compete foreign well-managed, well-established firms. Globalization may result into economic imperialism. Unguarded openness may become a playground for speculators. Currency speculation and speculators att acks, as happened in case of Indonesia, Malaysia Thailand, Philippines etc recently may led to economic crisis. It may lead to unemployment, poverty and growing economic inequalities. Despite its some shortcomings, benefits of globalization are likely to outweigh their drawbacks. Globalization essentially provides greater opportunities for the faster growth and economic development of the country and improve economic welfare. It provides wider and large-scale economic activities and employment opportunities. In a planned economy such as India, an indicative planning of desirable globalization process can be great use. India’s perspective planning for foreign investments and entry of MNC’s should be positive towards modernization of India. Besides, Research and Development (R&D) as well as technological up gradobious should be an integral part of India’s liberalized planning towards market economy. In short, globalization implies undeterred business activities and interaction among the firms and people with a global approach. It needs change in the outlook. It requires relaxing of control and regulations. It is heartening to note that an awareness of the government in India is on this line. Relief to foreign investors, new industrial policy, new trade policy, new fiscal policy, banking reforms, FERA and MRTP relaxation, acceptance of WTO agreements etc all suggest a positive out look of Indian policy-makers towards globalization. Indian government has assumed the role of promoter, care taker and regulator of market economy in the country in a desirable manner. Journey has begun. Destination is yet far. Perspective Although the social science literature on globalization has proliferated, social policy and social work scholars have not adequately debated the consequences of globalization for social welfare and social justice. Drawing on different social science interpretations of globalization, four major perspectives that offer different analytical and normative insights into globalization are identified and their implications for social welfare and social justice are briefly examined. The implications of these perspectives for social policy and social work scholarship are also considered. The concept of globalization is widely used today not only in the social sciences but in journalism and popular discourse. However, it is still poorly defined. Although loosely employed to connote the processes of social change that are affecting social relations between people living in the world's different nation states, the nature of these processes and their effects are widely debated and contested in the social sciences today. Nevertheless, these processes are said to be qualitatively different from earlier forms of international exchange in that they are more complex, intense and volatile. They are also believed to be fostering a historically unique interdependence between the people and nations of the world that will ultimately result in the integration of economies and societies. Of course, this interpretation has been disputed and an alternative view that defines globalization as no more than the acceleration of historic patterns of international exchange has also been formulated. Different interpretations of the nature of global change reflect different disciplinary social science perspectives. While economists view globalization as the creation of a world economic market, sociologists place more emphasis on the role of international social relations, communications and population movements in fostering space-time compression, post-modernity and cultural diffusion. In turn, political scientists stress the way power relations operate internationally to foster new systems of global regulation and governance. These diverse disciplinary perspectives have different normative implications that not only evaluate globalization differently but inspire different policy perspectives on how the process of globalization might and should be molded. These normative dimensions are of obvious interest to scholars in the fields of social policy and social work. However, as will be shown, different social science interpretations reach very different conclusions about globalization's consequences for welfare and justice. This article outlines four major perspectives which offer different analytical and normative insights into this issue and then considers the social welfare and social justice implications of these different perspectives. But first, it provides a brief discussion of the emergence of the concept of globalization and its social science usage.

ETHICAL DECISIONS IN LEADERSHIP (case study) Case Study

ETHICAL DECISIONS IN LEADERSHIP ( ) - Case Study Example The first one is Liz, an African American with the company for five years. Here performance was considered just average but her energy rated high. Second one was Roy who was with the company for twenty years. He has been considered below average in all performance parameters and his retirement is almost due. Yeh, Asian, has limited stint in the company. He is a above average performer, but disliked by many. Left to her own decision, Lucy would have succeeded in choosing the right person. But the problem is that all the three are candidates for many. Lucy is sympathetic towards Liz because of the illness of her kid that exerts extra financial burden to her. Promotion could indeed help her to surmount the financial problems to a great extent. It also appears that Lucy has connections with Liz that is beyond their work relationship. On the other hand, Roy had been with the company for a long time. If promoted, he would retire happily with a great sense of accomplishment. This would go a long way in motivating other staff who are aging. But the problem is very severe with the third candidate Yeh, who has been engaged to the son of Vice-President. Lucy her self is a subordinate to Vice-President. The Vice President has already spoken to Lucy on the need for promoting Yeh because of the social respect stake involved in it. There are very many considerations other than work related that Lucy would have to consider before recommending a suitable candidate to the management. Management has already indicated to Lucy that the selection of the candidate had to be done very carefully as a significant stake of the company was involved in it. At one level, Lucy has to live up to the professional ethics; but at another level, she would have to decided by considering factors beyond work relationship. A good leader is one who could influence people to perform tasks willingly with zeal and confidence. Invigorating enthusiasm amongst the ranks and files is central to

History 1112 Essay Example | Topics and Well Written Essays - 250 words - 2

History 1112 - Essay Example On the contrary, Russia advocated for communism, and thus wanted its allies and other of its friendly countries to adapt this (49). Consequently, Joseph Stalin, the then Russian president issued a very hostile speech in February 1946, postulating that capitalism and communism were not compatible, and that communism was more superior and public friendly. This was followed by a requirement by the then USA president Truman, that Russia leaves Iran, on March of the same year (65). The subsequent periods were marked by an arms race between the two countries, each launching major nuclear bomb tests by Russia in 1949 and USA in 1953 (38). The hostility continued for the better of the 1960-1970s, with each country seeking to contain the spread of the other countries ideology and dominance. This period was marked by among others the Cuban Missile Crisis of 1962 and the Afghan war of 1979 to 1989 (51). While the Soviet Union blocked the access to West Berlin, the USA and its allies sought to supply it through air. This greatly increased the tension. Several agreements were entered to throughout the period to stop any breakout of a physical war, since it would have seen nuclear weapons used, which would have caused untold damage

Is the current government policy and legislation towards older people Essay

Is the current government policy and legislation towards older people going to meet their health and wellbeing needs, now and in the future - Essay Example This is via colossal funding of their care institutions, hospitals and somehow intervening in the end time services, which entail spirituality. Mainly, this is evident in the care centers; both the private and the public (Jeary, 2005). Contrary to all this efforts, the state has invested to ensure sound living of their elderly, the condition of their regulations and policies have proved quite divergent to their expectations. Since the population is rapidly augmenting annually whereas, those responsible to care for the elderly fail in their responsibilities (Eriksson, Asplund & Sellstrà ¶m, 2010, p. 1322). Numerous evils and abuses against the elderly are emanating from the caregivers, that encompass neglect, segregation, both sexual and physical assaults. These have culminated to mysterious deaths resulting from the absence of administering medications, beating and neglect. These cases’ causes have proved to numerous investigations as unconquerable, since those who undertake these vices are close people behind the masks of loving relatives. Hence, has rendered UK Legislations and other reinforcements inadequate to ensure sound elderly wellbeing now and in future (Jeary, 2005). Wellbeing normally assumes three approaches that encompass psychological, bodily and social setting, but their soundness does not imply the absence of sickness and other related maladies (Anneyce, 2011). Psychosomatic approach entails mind aspects where an individual experiences peace and does not have conflicting memories. Uncontrolled memories or thoughts usually yield to mental disorders that may render one incapacitated. Since, they normally lead to stress or prolonged depression, hence prompting an individual live happiness deprived life. Peaceful mind normally emanates from the sound spirituality of an individual, which also comprises one approach of psychological

ART Essay Example | Topics and Well Written Essays - 500 words - 14

ART - Essay Example Probably, this is to contrast the main carving from its environment with the intention of making it stand out and appear more visible. In addition, the man is extremely muscular with a clean-shaved head, which aligns well with his shining entire body. The illuminating light from the upper front prompts the man appear as if he is working during a sunny day, mostly evident from his shinny muscular physique. The image’s texture is supremely smooth besides the sculptor making the entire image appear tactile. This is evident from the shininess aspect of the entire carving from the clean-shaven head to the material he is working on with a chisel and hammer. This image is asymmetrical though the sculptor has utilized space well, which comprises it surroundings, hence emphasizing the aspect of proportionality. This is also evident in its scale, which is comparable with the base, hammer and the stone is hewing to produce the desired size or shape. From observation, the sculptor has carved this image intentionally to be a closed form; hence, its appearance does not lose the viewer’s attention or admiration. This is because eyes after observing at one point of the image tend to shift towards the central point where the man is focusing. The choice of carving’s color is also another sculptor’s technique to draw and hold the attention of the viewer. This is because it c ontrast’s with human’s ordinary skin color besides being more exaggerated than it ought to be so, that the image stands out well. By observing this image, I think the sculptor has put more exaggeration than necessary to draw his or her audiences’ attention and admiration. This is evident from the heavy black and shiny color on the entire carving. The sculptor has ignored the application of diverse shades meant to reveal certain distinct parts of the image like eyes, nose, hair, hammer and the stone he is hewing. Besides,

Youth during the Great Depression Essay Example | Topics and Well Written Essays - 1000 words

Youth during the Great Depression - Essay Example al. 670-671). There is little doubt that experiences of the rail riding youths of the Depression were impacted and influenced but those experiences in a number of different ways; some positive and some negative. On October 29, 1929 the Stock market crashed. This day is often called â€Å"Black Tuesday.† This crash did not just affect the United States, but multiple countries and economics all over the world. Herbert Hoover held the office of United States President when the Depression began and despite his dedication to optimism, conditions were only getting worse. Many Americans blamed Hoover for the Depression as a whole. Of course, this historical event cannot be blamed on any one person, but a number of economic variables, financial aspects, and other contributions. Because unemployment was so extreme in so many parts of the country that many people became almost entirely migrant; walking, hitchhiking, or riding train cars. As can be seen above, people were essential living like refugees all over the nation. Whenever news of jobs was heard, sometimes, hundreds of people would arrive to apply. The Human traffic moving from one place to another was immense. Approximately 250, 000 teenagers, mostly male, hit the road and rode the rails The 2009 film â€Å"Riding the Rails† interviews, discusses, and delves into the experiences of the teens during the Depression through the stories of the men and women who lived it. These stories have the ability to make you think at the time, the culture, and hardships experienced by the generations before us and how very different the cultural mentality is today. Again there were many reasons that the youths of the Depression left home and found themselves riding the rails. Clarence Lee’s father approached him and explained that this there simply was not enough to feed him anymore; he left home the next day. Peggy DeHart and her traveling companion, Rene Champion, hitchhiked across the country and occasionally road

Presentation Essay Example for Free

Presentation Essay First, to ensure the improvement and continued success of my upcoming PC-2 presentation, I should keep in mind the strong points of my previous work, and make a conscious effort to continue them. I must make sure that I continue to be lively, persuasive and enthusiastic. I should also ensure that I prepare well for the upcoming presentation, so as to remain the authority or the expert in what I am discussing. It will also be important to continue the various techniques I used in grabbing and keeping the attention of my audience, and to again arrange my presentation in such a way that the audience stays with me and does not get bored with it. Second, based on the comments of my fellow students, my professor, and from my own observations, here are some things that I can improve on. The first and obvious area that needs improvement is with regard the technical aspect of my presentation. I will need to get better equipment (I. e. new web/video cam, sound recording devices) to ensure that my audience sees and hears my presentation clearly. All my hard work and preparation will be put to waste if no one will be able to properly view my work. Second, I will have to improve the place where I shoot or record my video presentation, as my previous area was a distraction to some, if not most of my audience. Perhaps I can use a more professional setting, or at least something which will not distract and divert the attention of my audience from my presentation. Next, I think I can also improve on some of my unconscious mannerisms while doing the presentation. As pointed out, there were instances when I was moving my chair back and forth, which distracted my audience. I should make a more conscious effort to be aware of these mannerisms, and perhaps to do the presentation while standing up, which will help in making my over-all appearance more persuasive and assertive. Lastly, in the end, nothing compares to a good preparation an planning of the presentation to ensure its success.