globalization

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globalization

Operating around the world. Although many large companies have globalized for decades, the Web, more than any other phenomenon, has enabled the smallest company to have a global presence. See localization.

globalization

A mulifaceted process in which the world is becoming more and more interconnected and communication is becoming instanteneous. Aspects of this process include:
  1. the transformation of the spatial arrangement and organization of social relations involving ‘action at a distance’, a stretching of social relations and transactions (and power), including instantaneous communications across time-space;
  2. the increasing extensity, intensity, velocity and impact of global social relations and transactions (see Held et al. 1999);
  3. the creation of new networks and nodes – the ‘network society’ (CASTELLS) – associated with the new levels of dependence on knowledge/ information and ‘expert systems – the ‘information’ or ‘knowledge society’ – as well as the new risks associated with this – RISK SOCIETY;
  4. a dialect between the global and the local in which (consistent with a dialect of power and the duality of structure) the outcome is not a simple triumph of the centre over the periphery, mere Americanization’, or suchlike (see also MCDONALDIZATION).

As Held et al. (1999) suggest, a ‘vibrant’ ongoing debate exists on the characterization of globalization between three groups of theorists:

  1. ‘hyperglobalizers’ (e.g. Ohmae 1990; 1995) for whom global marketization is the main driver;
  2. 'S ceptics’ (notably Hirst and Thompson 1996a and b), who play down the level and distinctiveness of the change;
  3. ‘transformationalists’, including GIDDENS, for whom globalization is a distinctive new phase such that societies and states across the globe are experiencing profound social as well as economic changes – a ‘massive shake-out’ of social relations, economies, governance and politics – as they seek to adapt to an increasingly interconnected but also unpredictable and uncertain world.
References in periodicals archive ?
In the United States, it is also possible that we are seeing a situation in which the competitive educational success of migrants (from Russia and Asia, for example), may actually be displacing older ethnic groups from routes of mobility in a newly redefined and globalized economy.
Society has been globalized not necessarily because human beings thought or acted globally but because of a number of economic factors, largely profit and wealth creation.
Secretary General Kofi Annan in which he warned that only a few countries are benefiting from the globalized economy.
But the dress code which is getting globalized is overwhelmingly the Western dress code (Hegemonization).
This can lead to impediments to global trade in the form of double taxation of income as each country claims that income of a globalized business was earned in its jurisdiction.
Our customers' needs and desires have globalized and we must globalize to meet them.
With the advance of an increasingly globalized market, the opportunities for, and scale of, corruption is growing.
of Miami) present in this volume--was convened to bring together academics and practitioners from the fields of economics, business, and politics in order to exchange ideas related to the general themes of the dollar and the euro as competing currencies in a globalized economy, European Union enlargement and its effects, the euro and dollar monetary policies, and risks and opportunities in Latin America and the Caribbean.
DALLAS, April 11 /PRNewswire/ -- Highly globalized countries are more likely to adopt policies that promote faster economic growth, lower inflation, higher incomes and greater economic freedom, according to the Federal Reserve Bank of Dallas' 2005 annual report essay.
According to this, the IMF should be transformed into an impartial umpire, detached from the interests of its member government and, in its capacity as umpire, preside over the globalized economy with the aim of facilitating "market solutions"--basically by calling out fouls if the players violate market rules.
A provocative book, brimming with passion for those who suffer the worst shortfalls of an increasingly globalized world; definitely worth reading, even if not all of its solutions are fully viable (for example, capping salaries would just prompt those so capped to emigrate to a nation that doesn't cap salaries.
employees and a vast new globalized work force that is eager and well able to do the jobs of American workers at a fraction of the pay.