Definitions of the term globalization

Let me nonetheless outline briefly what I understand by the term.

Definitions of the term globalization

Globalization - Definition and conceptualization Photo by: Professor Theodore Levitt, a marketing professor at the Harvard Business School, apparently first employed it in a article in the Harvard Business Review. It is arguable, however, that the basic concept dates to the first humans.

Defined broadly, globalization is the process of integrating nations and peoples—politically, economically, and culturally—into a larger community.

In this broad sense, it is little different from internationalization.

What it is:

Yet globalization is more than this incremental process that over the centuries has brought people and nations closer together as technological innovation dissolved barriers of time and distance, and enhanced flows of information promoted greater awareness and understanding.

The focus, as the term suggests, is not on nations but on the entire globe. Consequently, a more sophisticated definition might emphasize that contemporary globalization is a complex, controversial, and synergistic process in which improvements in technology especially in communications and transportation combine with the deregulation of markets and open borders to bring about vastly expanded flows of people, money, goods, services, and information.

This process integrates people, businesses, nongovernmental organizations, and nations into larger networks. Globalization promotes convergence, harmonization, efficiency, growth, and, perhaps, democratization and homogenization.

Globalization also has a dark side. It produces economic and social dislocations and arouses public concerns over job security; the distribution of economic gains; and the impact of volatility on families, communities, and nations.

Many also worry about a growing concentration of economic power; harm to the environment; danger to public health and safety; the disintegration of indigenous cultures; and the loss of sovereignty, accountability, and transparency in government. These, too, are issues that have been topics of concern to American diplomats and foreign policymakers throughout the twentieth century.

There are two principal drivers to globalization: Rapidly changing technologies for transportation and communications continue to dissolve the barriers of time, distance, and ignorance that once complicated long-range relationships.

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In the twentieth century some of the most important technological innovations that changed diplomacy were the jet plane, satellite communications, fiber-optic cables, and the Internet. Ideas also shape globalization, particularly the widespread belief that free trade, private enterprise, and competitive markets promote efficiency and economic growth.

Another set of ideas also influences the globalization process: The impact of technology and ideas are the building blocks of globalization, and have shaped U. The globalization process has other independent drivers.

In the history of the modern world, a rising population in less-developed areas frequently has triggered emigration to areas of economic opportunity, and this in turn has frequently produced a stream of remittances to family members who remained behind.

Definitions of the term globalization

Famine and malnourishment, as well as the need for energy and industrial raw materials to support advanced economies, also affect the globalization process, promoting greater flows of materials, food, and goods, and thus enhancing the interdependence of people and economies.Oct 22,  · In this Article: Article Summary Understanding the Definitions Considering the Causes of Globalization Knowing the Impacts of Globalization Seeing Globalization in Your Life Community Q&A Globalization has been invoked to explain everything from call-centers in India, to rising income inequality in the United States, to the Arab 49K.

Globalization definition is - the act or process of globalizing: the state of being globalized; especially: the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

IMF’s Definition | Globalization

Feb 06,  · Of these five approaches/definitions it is only the last, according to Scholte, that offers the possibility of a clear and specific definition of globalization. The notion of supraterritoriality (or trans-world or trans-border relations), he argues, provides a way into appreciating what is global about globalization.

globalization, globalisation / ˌɡləʊb ə laɪˈzeɪʃən / n. the process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications.

Globalization definition is - the act or process of globalizing: the state of being globalized; especially: the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of .

The anti-globalization left has a vision of creating a more equitable society and it works under the assumption that the state, if run by the right people, is capable of bringing about such changes.

Globalization - Simple English Wikipedia, the free encyclopedia