Another Facet of Globalization

World Economics Outlook defined globalization as ` the growing interdependence of countries world-wide through the increasing volume & variety of cross-border transactions in goods & services  ,& of international capital flows & also through the more rapid & widespread diffusion of technology.

Globalization with economic liberalism brought the possibility of boundless growth & prosperity , however , it also threatened rising inequality, & economic anarchy. Its implication follows through variation in the level of incomes, financial crises, energy crises, environmental crises ,& changing face of organizations.

Globalization has especially favoured the already rich economic countries with advanced technologies, & increase in funds for research works.The world income is heavily concentrated in the triad countries. The developing countries are constrained to work at lower wages as a result of poor economic conditions & high population counts.

Some of the countries listed with GDP on the world development indicators database , world bank – 7oct 2009.

A prominent service sector is seen as an indicator for economic development, however, the financial crises which broke in U.S & other western  countries in the late 2008, had serious impact on unemployment all over the world.

The emergence of unsustainable levels of debts has in part been facilitated by the emergence of increasingly integrated global capital markets. Financial analysis & market reports the following countries with debt issues  2009.

The energy crises has increased the price & demand for energy fuels.Following energy crisis has been reported;South African electrical crisis which may last to 2012, has increase the price for platinum ,& reduced gold production, the 2008 central Asia energy crisis has caused due to abnormal cold temperature & low water levels.

The environmental crisis in the world has already started , & it is having a big effect on every country. Many of the world ecosystems have already suffered damage from green- house gases, & the global warming crisis. Recovering fossil fuels can result in destroy  habitats & poison the air, water,& land.

Globalization adds an extra dimensions to the changing values & objectives within the firm. The economic, governance, financial, technological , & social drivers of international integration inevitably has profound impact on corporate strategies to focus on their own internal organisation & structures.All organisations have their own culture ,based on common language & terminology, behavioural norms,dominant values ,etc, which  becomes  more complex ,& obliviously adapts to the changing strata of globalization.