GLOBALISATION

Globalization

Globalization

Introduction

The globalization of business happens when it decides to take part in raising the global economy in which it sets itself in foreign markets. The initial focus will be to adjust their products and services to end users in international markets. As globalization indicates a shift towards a world government of trade, it can also be associated with the compensation on the independence, making the country not to be completely independent. Thus, the issues of globalization and free trade are concluded in the debates and disagreements.

Discussion

What's happening in the world affects the workplace today. It is important to keep up with this news at the local, national, and worldwide. For example, one may wonder why the price of oil in Saudi Arabia has to do with the U.S. labor market. This has a significant impact on employment opportunities. Economy makes the job market. When the economy slows, there are fewer jobs sum. It would not be surprising that many people have lost their jobs after Sept. 11. More than 8 million Americans were unemployed. That is why we must watch what is happening in the economy worldwide.

The shift in the labor market occurred in the past year, with a decrease in the stock market. Although the stock market took a blow down real estate markets (and jobs) have increased dramatically. This was because investors have lost confidence in the stock market to look for other places to put their money. So it was down to low interest rates, which have made an outstanding choice of property.

International market has increased due to the rapid development of technology. Telephone, fax, and Internet made it easier for people to talk around the world. These achievements have enabled companies worldwide to do business with each other.

The OECD Council at Ministerial Level met on 26-27 June 2000, under the chairmanship of the Honorable Mr. Peter Costello, Treasurer of the Commonwealth of Australia, aided by the vice-chairs from Canada, Mr. Pierre Pettigrew, and Minister for International Trade and Mr. Jim Peterson, receptionist of State (International Financial Institutions), and from Finland, Mr. Kimmo Sasi, and Minister for Foreign Trade. Consultations were held with the enterprise and Industry Advisory Committee (BIAC) and the Trade Union Advisory Committee (TUAC) to the OECD.

OECD Countries

OECD countries are undergoing the deepest transition in decades, to an progressively knowledge-based and interdependent world. Globalization and the impact of rapid advances in technologies are presenting new opportunities and new challenges to all countries, regions, societies and citizens. Fast changing information and communications technologies (ICT) are transforming markets, including financial markets, and require new methods of organizing work, business and trade to harness the benefits of globalization. However, Ministers recognized the serious concerns felt by many at the economic and technological changes underway, and the importance of addressing these concerns locally, nationally and internationally. (Kohlmorgen 2003, 19)

Effects of Technological expansion on Globalization Process:

Technological developments are conceived as the major facilitator and driving force of most of the globalization processes. Before elaborating on the consequences of several technological ...