Globalization Essay

An essay is a piece of writing that revolves around a particular theme and contains the academic opinions of the person writing it. A basic essay mainly consists of three parts: Introduction, Body, and Conclusion.

In this post, we present you with a brilliant Globalization essay.

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Globalization Essay

Globalization Essay

Globalization is the integration of a country’s economy with the world economy. It aims to encourage foreign trade and private and institutional foreign investment. It creates various policies that try to unite the world.

Technology is one of the factors which have led to globalization and has played a major role in the outspread of products and services across countries.

Technological innovations in telecommunications—mobile phones, faxes, computers, and the Internet—have helped people living in different geographic locations communicate with each other. It has helped various companies in managing and expand their business in many countries located in different time zones.

Computers have enabled many companies to store infinite data, which has helped in the marketing of various products and services in different countries. Information is available on any subject through the internet. Instant messages and electronic mail can be sent within seconds. It has completely revolutionized the working of several companies.

Through technological advancements in transport systems, goods across long distances were delivered at great speed and low cost. Globalization has opened many new opportunities for the service sector, especially IT companies. These companies offer their cheap but efficient consulting services to many countries.

Technology is transferred to developing countries. It has been able to produce quality products in the international market. Outsourcing is the main outcome of the globalization process. A company mostly outsources regular services such as BPO or call centre, banking services, teaching and account maintenance from outside the country or within the country. Many multinational corporations are outsourcing their services to India at low cost. Post-reforms, India has provided global outsourcing with the availability of skilled manpower at low wage rates.

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