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THE GLOBALISATION refers to the growing economic integration of the world.…
THE GLOBALISATION refers to the growing economic integration of the world.
Economic integration has been facilitated by 3 factors:
Intervention of organisations: World Trade Organization and the International Monetary Fund, which have encouraged trade between countries.
The availability of cheap labour and lower costs.
The development of technology, which has made communication fast and simple
Divided opinion:
Supporters: globalization allows poorer countries to develop economically and raises the standard of living.
Opponents: widen the gap between rich and poor, and work in the interests of the most powerful nations in the world.
The rapid development of Information Technology (IT) has accelerated the pace, scope and scale of globalisation. The World Wide Web (WWW) was invented in the 1990s and it transformed the Internet by simplifying the process of searching, accessing and sharing information.
The digital divide: describe the gaps between those who have access to and the ability to use the Internet and digital technologies and those who do not.
Three institutions have helped increase the pace and scope of globalisation:
IMF, World Bank, WTO. Representatives from the USA, Uk and 42 other allied countries met at the Bretton Woods and created the IMF to help stabilise currency markets and estabilished an organisation called International Bank for Reconstruction and Development which is now part of the World Bank
These organisation have often been criticised and is usually directed at the richest and most powerful member countries beacuse argue that their interests domibate the work of the organisations.
Multinationals are large companies which operate in many countries. They have played an important role in the development and spread of globalisation.
The presence of a multinational can have advantages and disadvantages: A--> They bring their experience and working methods to the country/ invest money in a host country... D--> jobs are often unskilled and low paid and the working conditions can be poor.
Offshoring: multinationals often transfer aspects of their production or services to the other countries, so that they can take advantage of lower costs or be closer to their markets. Two types of offshoring--> production offshoring ( production of toys, clothes..)and service offshoring (accounting)
Outsourcing: it means contracting work out to an external organisation. Is a company which tries to attract outsourced work from other companies.
Tecnology improves business comunication; means the office works more efficently; eliminates space and time ( video conferencing), improves the efficiency of screening; recruiting and hiring potential candidades.
Smartworking has the potential to change the way we work completely
E-commerce is the process of buying or selling products or service via the internet. Is divides into 4 areas: direct sales, sales between companies, sales between consumers, sales.
Technopolis is a new form of city centred around the high-tech industry, the intention is to create environments that enhance the development, transfer and commercialistation of technology. Silicon Valley was one of the world's first technopoles.