Globalisation and industrialization have been the leading movement in this dynamic world. These entities are responsible for enhancing human life socially, economically and politically and ensuring that world trends are ever-changing and heading towards a more digital world.
What is Globalization?
Globalization is defined as the “process of interaction and integration among people, companies, and governments worldwide” [Source]. It is also seen as the “growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information”.
What is an example of Globalization?
A famous example of globalization is evidenced by the widespread religions such as Christianity Islam, among others. These religious beliefs are found in many parts of the world and encompass many belief systems with many followers.
Why do we need Globalization?
In our modern world, Globalization is responsible for “increasing connectedness and interdependence of world cultures and economies” [Source]. The common phrase’ global village’ was made possible through Globalization which connected humanity in this world. In terms of discrimination, globalization is gradually enacting tolerance in people so that they can accommodate each other and co-exist peacefully, though this still needs some time to fully happen. Globalization squashes off the element of superiority/inferiority complex, and there is the promotion of mixing-mingling of cultures, which is needed in a global village.
What is Industrialization?
Industrialization is the “process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods” [Source]. Under industrialization, manpower is usually displaced by machines that can maximise profit and increase production. The characteristics of industrialization include “economic growth, the more efficient division of labour, and the use of technological innovation to solve problems as opposed to dependency on conditions outside of human control”.
What’s the difference between Globalization and Industrialization?
The difference between Globalization and industrialization is that Globalization refers to the “process by which businesses or other organizations develop international influence or start operating on an international scale”, and industrialization is the “process in which a society or country (or world) transforms itself from a primarily agricultural society into one based on the manufacturing of goods and services” [Source]. Industrialization focuses mainly on technological advancements, while Globalization seeks to put products on the international market. Manpower is replaced by machines or technology in industrialization, while Globalization might or might not rely on technology. Industrialization tends to shift society from the traditional ways of relying on agriculture, whereas Globalization can be an interaction of “one economy with other economies of the world”. Industrialization can be part of Globalization as new technology can be introduced to interact with the rest of the world. Industrialisation can be a localised process where a society develops itself, but Globalization yearns to be recognised outside localities.
What is Industrial Globalization?
Industrial Globalization is a “process linked by interconnected cross-border production. It enables firms to enter new markets, capitalise on technological and organisational advantages, and reduce costs” [Source]. It is noted that industry globalisation “comes about when many of an industry’s companies become global in one way or another. This means they can garner the services of supplies and customers’ attention in foreign countries” [Source].
How are Globalization and Industrialization connected?
The link between Globalization and industrialization is explained in the following statement: “Ever since the first industrial revolution, industrialization has impacted international business. In particular, advances in transport and telecommunications have had a huge impact. With increasing trade and communication, more and more companies are extending their reach across land and sea” [Source]. Technology is now dominating our world, and globalisation is thriving since everything is going digital. Technological improvements are a sign of development, and they have aided interaction on the global scale, thus connecting Globalization and industrialization.
How does Globalization affect the industry?
Globalization affects world trends because it promotes connectivity and interaction between major companies and corporations. Such an interaction tends to create a platform on the world market where industries can showcase their products and draw inspiration from various industrialists across the globe. Through Globalization, industrialists can find customers, localise goods and services, export and import services, create competition vital for innovation and offer chances of collaborative projects within industries, thus linking globalisation and the industry.
How is Globalization advantageous for the Industrial Revolution?
Globalization is likened to a front created by many parties from all ends of the earth, so it is advantageous for the industrial revolution as it connects industrialists all over. Through globalisation, industry entities are interlinked and can have the same goals of pushing away regressive tendencies. Industrialists can act accordingly, and together, they can enhance the industrial revolution. Also, with the aid of technology needed for globalisation, the industrial revolution can move from an “agrarian and handicraft economy” to an industry dominated by industry and machines.
How did the Industrial Revolution affect global interactions?
The Industrial Revolution impacted globally by creating new markets, increasing production, which satisfied high demand, allowed the importation of raw material and led to new technologies such as railways [Source]. Basically, the industrial revolution was able to increase global trade.
What is the difference between Globalization and Glocalization?
Globalization entails services or products going global, and glocalization refers to global services or products adopted by local people and mixed with local flavours. Globalized entities remain on the world market, but glocalized entities are almost confined to a certain locality. With Globalization, the product seeks to meet international standards, and glocalization aims at making products that the local people can relate to. Glocalization enables people to be conservative with their services, and Globalization is all about universality in trying to make things that can appeal to the world.
What is the effect of Globalization in developing countries?
For developing countries, Globalization has both positive and negative effects. On the positive side, the global interactions have inspired developing nations to upgrade themselves and have role models they can emulate. Also, the local people have gained ideas on how to become innovative in their own backyard. Exportation was also made easy for these countries. Thus, in terms of economic and technological advancements, globalisation has been good for developing countries.
The downside of Globalization is that developing countries are importing everything from products, languages and culture, which means local languages and traditions are disappearing. Because developed countries present themselves as safe havens, developing states have lost skilled and learned people moving to developed territories. Globalisation caused the ranking of nations, thus fuelling the inferiority complex of developing states and enacting discrimination of citizens from poor nations.
