The effect of globalisation on national economies
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Published: Thu, 20 Apr 2017
The assignment is based on the wider implications and effects of European and global integration on organisations. It identifies the effects of globalisation on national economies and the influence of international institutions. We shall try to summarise the role and responsibility of European Union membership on the workplace.
In the second partition of assignment focus on investigate the range and effects of environmental legislation, directives and guidance and the processes organisations need to adopt. The economics of adopting a policy of environmental awareness and summarise actions that need to be taken by organisations to maintain the environment. Here we shall also specify the measures that exist to improve workplace health and safety practice.
In final partition explore the socio cultural, ethical and moral issues that affect organisations in the current economic environment to establish and implement good practice. Analyse the responsibilities of organisations to improving workforce welfare. Review approaches to the management of diversity and compare organisational approaches to ensuring positive policies of workforce diversity.
What is Globalisation?
Globalisation can usefully be conceived as a process or set of processes which embodies a transformation in the spatial organisation of social relations and transactions, generating transcontinental or interregional flows and networks of activity, interaction and power.
Globalisation has four types of change. Firstly, globalisation includes growing social, political and economical actions across political limits of countries and continents. Secondly, it recommends the growth of inter bondness and flows of trade, investment, finance, and society. Third, it is developing extensity and intensity of global inter bondness can be depended to a speeding up of global connections and developments as the progress of world wide actions of transport and communication speed up the flow of ideas, goods, information, investment and communities. Fourthly, the growing extensity, intensity and speed of global communications can be attached with their developing impression such that the results of indistinct actions can be very important else where and yet all the local growth may come to have massive global consequences. It makes the sense, that the boundaries between local affairs and global matters can become increasingly blurred.
In total globalisation can be consideration of as expanding, increasing speed up, and developing influence of world wide inter connections. In sum globalisation in this way, it makes possible to draw observe patterns of world wide contacts and business across all type of fields of human activity, from the military to the cultural.
What are the effects of globalisation on national economies?
Globalisation creates major change on the economic environment of any nation; it changes any nation in terms of economic development policies under national government. The globalisation provides the free movement of trade and investment, labour and assets. Through globalisation nation’s economy growth globally so it opening up the barriers of international trade which increase the stability and creates positive impact on quality of life with in a nation’s individuals.
Economic growth through Globalisation has both positive and negative impacts on the society. One of the main benefits of economic growth is the higher incomes per capita and higher living standards due to an increase in output. It increase in output has also created employment opportunities which takes the nation towards prosperity.
The best example of Globalisation is Microsoft Windows which is done in United State of America but the technical support is provided in India which provides support to Indian economy. Job opportunities create in India for IT professionals and government’s income increases in terms of Taxes. In same way Toyota cars made some cars others are made in United State of America.
The animation on cartoons is done in South Korea. The characters voices are done in the United State of America or in country who buys these cartoons.
The native impact of Globalisation is that the revenue earned in the nation is not spend in that particular country for growth of this country’s economic conditions of its people, this revenue is spend in other countries along the globe and the ultimate benefit goes to the company’s home country, For Example the American based company Nike is one of the company around the glob where ever in the world Nike products sale the ultimate benefit goes to America but the Nike enjoys the cheep labour and resources of that country. It also eliminates the difference of skilled and unskilled persons.
Other main weakness of Globalisation is that it increases possibilities of unintentional motion of diseases between the countries. Globalisation gives attraction towards the money oriented lifestyles and selfish attitudes, which suppose to consumption to be a mean to manage overall economic affluence.
As Amartya Sen said in 2002 “The market economy does not work by itself in global relations indeed, it cannot operate alone even within a given country”
Some believer of globalisation has the aim to expand market relations, push back state and interstate interference, and create a global free market. It is a political plan that seen at work in the activities of transnational organizations like the World Trade Organization (WTO), the International Monetary Fund (IMF), and the Organization for Economic Cooperation and Development (OECD), and has been a significant objective of United States involvement. Part of the impetus for this project was the limited success of corporate/state structures in planning and organizing economies. However, even more significant was the growth in influence of neo-liberal ideologies and their promotion by powerful politicians like Reagan in the USA and Thatcher in the UK.
The influence of international institutions
International institutions are a present feature of many world areas. These institutes include World Bank, IMF, GATT, WTO and OECD. These institutions have the same objective to expand the market relations and create a global free market.
“The World Bank is a vital source of financial and technical assistance to developing countries around the world. Its mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.”
The World Bank provides low interest loans, interest free credits and grants to developing countries for a wide range of reasons that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.
IMF (International Monetary Fund): This institution has aimed at established a system of multilateral trade and payments compatible with the maintenance of high level of income and employment. The IMF provides temporary funding to its member for balance of payments problems.
GATT (General Agreement on Tariffs and Trade)
Treaty organization affiliated with the United Nations whose purpose was to facilitate international trade. The primary actions of the organization were to freeze and reduce tariff levels on various commodities. GATT was created in 1947, and was originally intended to become a part of the International Trade Organization (ITO); however, the ITO failed to be created, so the GATT was left as an independent organization. In 1994, GATT was superseded by the WTO.
The objective of the GATT is to liberalize trade for the mutual benefit of all nations.
OECD (The Organization for Economic Cooperation and Development)
The OECD is an organisation that provides for intergovernmental discussion among 24 industrial countries in the field of economic and social policy. The OECD was formed in 1960. It has major objective to achieve the highest sustainable economic growth and employment and rising standard of living in member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; to contribute to sound economic expansion in member as well as non-member countries in the process of economic development and in accordance with international obligation.
While almost are agree that such institutions matter but there is less agree that how much effective. This special issue brings together European Union specialists and international relations theorists who address the latter issue.
ï‚· With the rapid spread of Globalization, there are chances for international organizations like World Trade Organization (WTO) to violate both national and international sovereignty.
The Role and Responsibility of European Union Membership on the Workplace
In particular, we explore the socializing role of institutions in Europe, with our central concern being to better specify the mechanisms of socialization and the conditions under which they are expected to lead to the internalization of new roles or interests. Drawing on a multifaceted understanding of human rationality, we consider three generic social mechanism strategic calculations, role playing, and normative suasion and their ability to promote socialization outcomes within international institutions. This disaggregation exercise not only helps consolidate nascent socialization research programs in international relations theory and EU studies; it also highlights points of contact and potential synergies between rationalism and social constructivism.
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