GLOBALIZATION

Prepared & Presented By: PRALAY KUMAR DAS MBA BATCH-3

DEFINITAION OF GLOBALIZATION
Globalization is the system of interaction among the countries of the world in order to develop the global economy.

It refers to the integration of economics and societies all over the world.
It involves technological, economic, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure.

GLOBALIZATION IN INDIA
Globalization was a compulsion for most of the economically under developed and developing countries posed by the developed countries, to certain extent this is true. But over the period of time developing countries has taken the advantage of globalization to expand their markets and posing challenges to developed countries. This is also true for certain extent. The best examples are India, and china. Coming to the Indian context, globalization was initiated by the Govt. of India only for the economic development, and India is one of the most benefited countries by globalization in 21st century by using its vast natural and human resources.

THE MAJOR FACTORS WHICH LED THE GLOBALIZATION IN INDIA

Market size
1+ billion population is the major factor which led the globalization in India

Human resources

High levels of education, excellent English speaking skills, large no of universities which produce lacks of Engineers every year and at the same time availability of labor resource at low cost contributed for the globalization

Supporting Governments 1991 Economic reforms

Opens the door for FDIs & FIIs

GLOBALIZATION FACTORS
A global economy opens new markets for both buying and selling; as such, the way companies do business, and the way consumers interact with companies, must change. These changes are the internal and external factors of globalization. Internal factors of globalization include how the firm changes its practices to compete on a worldwide scale. Production, development, customer service and marketing strategies are all internal factors of globalization, according to the Intelligent Business Plan Software website. External factors include new market environments to which the company must become accustomed, particularly the nuances of the people and laws to which the company will be exposed.

Company Branding

Employee Capabilities
Consumer Analysis Market Analysis

ADVANTAGES OF GLOBALIZATION

Global mass media ties the world together Increased flow of communications allows vital information to be shared between individuals and corporations around the world Greater ease and speed of transportation for goods and people Reduction of cultural barriers increases the global village effect Spread of democratic ideals to developed nations Greater interdependence of nation-states Reduction of likelihood of war between developed nations Increases in environmental protection in developed nations.

DISADVANTAGES

Spread of a materialistic lifestyle and attitude that sees consumption as the path to prosperity International bodies like the World Trade Organization infringe on national and individual sovereignty Increase in the chances of civil war within developing countries and open war between developing countries as they vie for resources Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing countries Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor

contd..

Threat that control of world media by a handful of corporations will limit cultural expression Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage Greater risk of diseases being transported unintentionally between nations Increased likelihood of economic disruptions in one nation effecting all nations Corporate influence of nation-states far exceeds that of civil society organizations and average individuals

CONCLUSION
Globalization Is Here to Stay! Globalization does have problems and negative effects, but it is not going to disappear. So We need to learn how to reap its benefits, and minimize its costs. To do that, we must: Understand its impacts Work to remedy the problems Work to spread the benefits as widely as possible