Although not a recent phenomenon, globalization has been described by ' 'Going Global: Key questions for the 21st Century'' as the "buzzword for our time". During recent years the process has demonstrated significant progression and with both an increase in technological advancements and reduced transaction costs, the transportability of capital has exponentially increased (Anderson, 2013). This essay will use secondary resources to define, explain and critically evaluate the impact of globalization on McDonalds. As well as demonstrating the effects it has had on the fast food giant, this essay will examine some positive and negative aspects that globalization has had on the brand and the fast food industry, with some examples relevant to China. The essay will then examine and scrutinize some schools of thought concerning the consequences of globalization on the world's cultures, societies and economies to ultimately achieve an evaluation of the impact the process has had on McDonalds.
Amongst a number of definitions globalization has been described as "the process by which it is argued that the world economy has become more integrated. Globalization can be seen as an increase in flows across national boundaries. These include not only economic flows of trade and investment in the form of multinational companies also the transmission and mixing of cultural influences, migration and communication" (Wetherly and Otter, 2011). Aside from defining globalisation as an integration of economies on a global scale, this definition also suggests that both cultures and societies are also affected by the process. This definition would be somewhat comparable to the one given in the book "Going Global" in which globalization is said to affect "every aspect of life - economic, political, social, cultural and environmental" (Moynagh and Worsley, 2008). Although these two definitions appear comparable, it is certain that there is much controversy concerning the consequences of globalization; whether certain aspects are favorable to certain countries' economies and cultures, or the opposite.