What are some of the positive achievements that globalization brings to our society, in particular, Digital Media?
The internet creates global communication platform enabling new forms of economic ties and social networking.
Social media and free communication services has globalized personal communication. For example the smallest business multinational business because of online commerce.
Multinational companies now perform many of their business functions through internet or by using digital media.
Research and Discuss four positive and four negative effects of globalization on our society.
More efficient markets: Globalization can improve the way you produce a good or service by doing things such as buying from an overseas supplier that offers discounts, you can then afford to lower your selling price which results in increased demand and affordability.
Competition in the market: Global competition leads to products of high quality. The enhanced quality of both products and services are based on production approaches of customer demands and customer services.
Culture: The welcoming of people from various backgrounds and civilizations has resulted in the creation of new cultures, thus leading societal growth.
Legal effects: Human rights have been improved as a result of globalization since media coverage on violations of the rights receives attention from all over the world. Also leaders as well as other persons of power addresses these issues on social media which can be seen all over the world.
Destruction of natural resources: Globalization causes an increase in production which results in the usage of more natural resources. pollution because fumes from factories as well as from transportation because ships and other mode of transportations will be used causing more fumes in the air.
Job insecurity: most global economy jobs are insecure and temporary. The impact is mostly felt in developed countries since they can outsource cheaper white collar and manufacturing jobs.
Pollution: because fumes from factories as well as from transportation because ships and other mode of transportations will be used causing more fumes in the air.
Fluctuation in prices: Globalization has led to fluctuation in price. Due to increase in competition, developed countries are forced to lower down their prices for their products, this is because other countries produce goods at a lower cost that makes goods to be cheaper than the ones produced in developed countries.
State the difference between globalization and liberalization. Give two examples.
Liberalization generally relates to activity within a certain country as a result of modernization and development while globalization relates to activities among countries and results in interdependence and interaction among countries and facilitates the movement of goods and services, capital, individuals, knowledge, technology.
Globalization: The ability to travel and experience other places and cultures.
Liberalization: European Union has liberalized gas and electricity markets, instituting a competitive system.