Sample Term Paper
Globalization today has become a buzz word from economic point of view to technology to culture to politics means its all over the place. With the advent of internet, mobile phones and other technological devices people have been close to each other as they use to be days before. The world has become smaller place goods that were out of the reach from far places are widely available in the any part of the world. Apart from that businesses have also become global where work can be outsourced to any part of the world with just an internet connection (Stief).
Today if we analyze closely the word global village has become predominantly very common. With the rapid increase of information exchange the shrinking of borders and the identities of citizenship, the relaxing policies of tariffs, visas and passports, the emotions that are taken power to take the authority of national state to regional grouping this phenomenon of globalization in growing day by day. This in other word would mean global dominance which has always been the prime objective of most of the countries in the early ages, but nowadays globalization is backed up with sophisticated and highly capable technology which was not available in the older days of globalization.
Some of the critics say that globalization has increased inequality but it would be ridiculous to say that globalization has created inequality. The concepts of inequality and biasness have been long before globalization was emerged. Cell phones when first emerged in the market were only available in the developed nations but now a cell phone subscription worldwide has reached 3.3 billion which is equivalent to half the global population. In this context one can say that globalization has increased equality in the sense of creating new markets in the underdeveloped nations and hence creating job opportunities.
Apart from that the new technology has also helped in the maturity of the industry, by launching products and services that are cheaper, up to date, better and convenient. The global economy is continuing to be fueled up with quickly flowing information, swift knowledge easy access to facts (Stiglitz). Globalization has created a world which is characterized by uncertainty, openness, increased options and flexibility which consequently is impacting the business, life style, security measures etc. Globalization has affected all the business sectors. A very good example of the intersection between disruptive technology and globalization can be considered as the advent of BPO’s Business Processes Outsourcing. Increased production with limited manpower has brought up a new disruptive technology which is known as BPO’s. Although outsourcing and off shoring have been evolving for many years but with the latest innovative technologies it has become more obvious and more visible. As a result of the interaction between the disruptive technology and globalization there have been several developments in the industry.
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