American business executive Jack Welch says, "Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas.".
There is no doubt that Globalization has become one of the most talked about topics of recent times. Proponents of globalization have recognized it as one of the best things to happen to the world. However, its opponents have recognized it as neo-imperialism. Despite what people might say, one cannot go without recognizing the positive role that globalization has played in changing the lives of millions of people worldwide. Some benefits of globalization include:.
1. Increased Competition: Due to global competition, the qualities of products are being improved. This is all thanks to the "customer is always right" approach to production and customer service. Local companies must fight out the overseas competition so therefore, they are somewhat forced to raise their standards and customer satisfaction in order to stay alive in the market. .
2. Spread of Culture: Culture has made the world what it is today; several cultures coming together. Most times people of one culture (if they are open to change) would see flaws within their way of living and acquire the values that they believe are correct or in with the times. Due to the fact that some societies have welcomed people of other civilizations and cultures, they have become larger and therefore created a whole new culture for themselves. Globalization also deserves all the credit when mentioning the spread of cooking, language, and customs. However, the same can be said about movies, other art forms, and musical styles.
3. Employment: Due to globalization, companies have ventured into the developing countries and therefore, generated employment for them. However, it can be a good or bad thing depending on how you view it.
