Pros And Cons Of Globalization

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World’s globalization trend Globalization has always been the trend that generated impacts all around the world. Nations are becoming more integrated with the availability of advanced technology that had enabled people, goods, money, data and ideas to move around the world much faster than before. It can be recognized easily with phenomena such as: • The spread of multinational corporations with offices and employees in many countries, such as Coca-Cola, Toyota, Sony, IBM, Unilever, Shell, etc. • The expansion of global financial markets such as New York, London, Hong Kong, etc. • Increasing of immigration, changing ethnic diversity, cultural and religious composition of countries and the establishment of multicultural societies. • Trade barriers…show more content…
With the continuation of the one-child policy for many years, although having a large population, China is facing the problem of aging population, which is forecasted to become more severe in a recent future. Following the trend of the United States and the European countries, immigration from other countries with younger and growing population is considered to be the solution for those countries. Diversity’s pros and cons However, diversity can bring both advantages and disadvantages. At the enterprise level, “diversity leads to more out-of-the box thinking; yet, it also creates contention and disunity” (Manzoni, Strebel, & Barsoux, 2010). People who are optimistic about diversity believe that a diverse workforce would create a desirable environment with characteristics such as: (a) More innovation: more outside-the-box thinking by people from various backgrounds and cultures don’t think or work alike, which leads to new inventions and discoveries; (b) Better profitability: a diverse workforce enables knowledge about marketing and selling products and services to a more diverse consumer
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