Globalization Preparation Overview

Study Notes

Infrastructure: Essential physical and organizational structures required for societal and enterprise functionality.
Education: Fundamental for development, forming the basis for economic and social well-being.
Human Resources: Involves recruitment, training, labor laws, communication, expatriation, attracting, and retaining talent.

Natural Resources: Include air, land, water, wildlife, plants, and soil; crucial for meeting basic needs like food, energy, and health.
Free Trade: International trade without tariffs, quotas, or restrictions facilitating seamless goods exchange.

Mass Media: Global information dissemination influenced by capitalism, technology, and commercialism, primarily benefiting Western markets.
Technology and Internet: Enable communication without face-to-face interaction, transcending physical borders.
Social Media & Networking: Platforms for creating and sharing information and videos through computer and internet tools.

Transnational Migration: Movement of people across countries for various reasons, including economic opportunities as foreign or guest workers.
Capitalism: Economic and political framework where industries and trade are privately controlled, governed by supply and demand rather than state ownership.

Terrorism: Use of violence to create fear and exert control over societies.
International Organizations (Regionalism): Groups functioning across borders to address global issues collaboratively.
State's Sovereignty: The authority of a governing body to self-govern without external interference.

Business Expansion: Greater competition and technological advancements foster increased investment and production efficiency.
Labor Impact: Creation of jobs that generate incomes, leading to tax revenue and increased goods production both locally and globally.
Trade Opportunities: Countries trade resources they lack, enhancing economic interdependence.
New Production Processes: Adaptation from raw materials to finished products boosts manufacturing capabilities.

Harm to Developing Economies: Trade liberalization pressures weaker economies to compete with stronger ones, threatening their stability.
Environmental Costs: Impacts include carbon emissions, pollution, energy consumption, and depletion of natural resources.
Natural Calamities: Events causing significant societal harm following disasters can overwhelm local resources and recovery efforts.
Brain Drain: Loss of skilled workers to other countries, undermining local talent pools.
Cultural Homogenization: Diminishing cultural diversity as global influences overshadow local traditions.
Job Displacement: Economic shifts and company restructures can lead to involuntary job losses, especially among less educated workers.