Question

Discuss (3) three drivers of globalization and how these drivers have impacted Caribbean businesses in your home country. Please be specific to which country (ies) in the Caribbean your analysis is being centered. Finally, critically assess one (1) positive impact and one (1) negative impact of Globalization in your home country. Tip: Please provide examples to justify your points.

Minimum 800 words

Answer 1

GLOBALIZATION

Globalization is the movement and exchange of goods, services, people, information technology, monetary deposits. etc. all over the world in a fastest manner. The impact of Globalization can be seen all over the world. Globalizations are of three types:

i. Economic Globalization

ii. Political Globalization

iii. Cultural Globalization

Globalization is the result of interconnectedness of the people across the world which leads economic, political and cltural integration of people all over the world in a selfless manner. It provides import of commodities at a cheaper rate and on the other hand export opportunites are more. Throgh Globlization organization can achieve a superior competitive position with lower operating cost.

The advantage of Globalization is that it due to the rise of new industries new job opportnities emerges there by per capita income increases, which leads to higher gross dpmestic production.  

On the other hand the negative impact of globalization is that it makes poor countries forced to do according to the way which the developed countries ask them to do.  

The following are the drivers of Globalization

i. reduction of barriers of international trade

ii.increased consumer demand

iii.lowering the cost of commnication and transportation through advanced technological achievements

Carrebean is a region where exists highest level of inequality in the world. In addition to that there exists competitiveness and deficiency in technology, innovation, etc. But the most interesting fact is that the region along with its natives considers this disadvantages as an opportnity to growth and development. It is coming forward with all its strength to occupy a leading role in the global economy by utilising its abundance of natural resources like enery, water and biodiversity.  

India is in a step forward to be an active partner in the region's endeavour by all means. Significant Indian investments have been made in the region in the mining and hydro carbons sector. This is because the Indian economy needs a abundant supply of raw materials for which Carrebean region is a particularly rich source.This leads many of the major investments of Indian transnational companies to occupy the Careebean regions.

Positive and negative impact of Globalization

The positive impacts are :

i. All round competition can be seen every economic activity

ii. Export became a matter of survival

iii. Increased foreign investment

iv. Competttion among companies to provide quality goods maintaining high standards by reducing production cost.

The following are the negative impact of globaization

i. Destabilization ofprotected environment.

ii. Threat from MNCs

iii. Corporate vlnerability

iv. Mergers and Acquisitions

  

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