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Consequences of Globalisation for Labour

Consequences of Globalisation for Labour

Introduction

Significant impact is observed on the international market due to globalisation, as all the markets of the world have become interconnected to each other. The markets have become open to the international organizations as the complexity and cost of operation has declines globally. There are numerous benefits of globalisation, but there are also some demerits of globalisation that cannot be undermined. It has been observed that countries have become able to access cheap labour and resources available in the developing and under-developed countries. The prices of products that are produced by the organizations globally have become cheaper for the international market and by this people are able to get their needs and wants accomplished with fewer resources.

The impact of globalisation is clear on the level of disposable income, as now people have become able to purchase more services and goods. The communication technology and foreign trade have improved due to globalisation, which is having positive impact on the overall economy of the country. Organizations have become internationally acclaimed in the marketplace as not they are able to display their competencies and products in an effective way. Another important thing that is improved due to globalisation is quality in services and products (Riisgaard & Hammer, 2011, p.168).

Those countries which were rich in natural resources have become able to earn through trading these ample natural resources in the international market and can claim products or services against these resources or gain foreign currency that is helpful for a country in managing international trade requirements. Technology is one of the most significant gifts of globalisation, which has created positive impact on the international market. The domestic base of various developing and under-developed countries has improved due to the emergence of globalisation. Huge change has been observed in the employment market, as now countries can find good employment opportunities for their educated and skilled un-employed individuals at ease.

The technical skills based employment market has become more managed mainly due to the emergence of globalisation as the need and demand of skilled workers have increased in the international market. Mobile phones and internet facility have improved the level of trade in the international market, as now people are able to manage their resources in an effective way (Wills, 2009, p.441). Globalisation has helped in increasing the level of competition in almost all the markets of the world such as commodities, natural resources, human resources etc.

Consumer market has improved to a major extent due to the impact of globalisation and now people can buy products and services from the international market in appropriate prices set with the mutual consent of both the organizations and the government. The distribution and transport network of the countries have improved and now people can make cheaper purchases without any extra duties and taxes that were very high in the past. There are various other incentives and benefits offered by the emergence of ...