Globalization Essay Samples

Published: 2018-03-13 12:53:07
Globalization Essay Samples
Type of paper:  Essay
Categories: Globalization Culture Society World
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Essay Sample #1 - Globalization and Its Effects

Globalization is the increasing interaction of people states or countries through the growth of international trade and investment. Globalization has many effects both positive and negative. As we dissect both sides of its impact we may be able to come up with a definitive solutions as to which side of its effects prevails. We shall begin by looking at its positive effects.

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Globalization leads to more efficient markets. Globalization exposes manufacturers to prices all around the world which then allows manufacturers to gauge more efficient prices to purchase raw materials and allow s for more favorable prices which allows for better prices of their products.

Globalization has led to increased competition among various industries. competition is good in the sense that it allows for better products and prices as industries do not want to be priced out of the market.

Globalization has created access to foreign loans by developing countries. This money can be used in the development of the various sectors of the economy that are crucial in the development and sustainability of the country.

Globalization allows for easier communication between countries which helps to foster relationships and trust among countries. This in turn creates better relationships and decrease chances of war between countries.

Globalization has led to increased employment opportunities. Through globalization many industries have emerged which leads to creation of employment. this in turn leads to increased living standards.

Globalization leads to economic development of countries as it allows for development of new technology, increased importation and exportation which is a source of income exposure to more efficient methods of production.

Globalization has helped to reduce trade barriers between countries. this in turn helps countries to expose their products in the international market which also helps in advancement of innovation and creates income for developing countries.

Globalization has helped in innovation of products, technology and infrastructure to facilitate trade. it has allowed for innovations such as the internet, social networking sites, modes of transportation such as air and sea transport which also helps to make the world connected.

Now let us explore the negative sides of globalization

Firms in developed countries outsource their manufacturing and white-collar jobs to developing countries in order to cut down on costs. This creates employment disparity and causes resentment between people in developed countries and those in less developed nations.

Globalization may have inadvertently helped to increase terrorism as it allows for free travel among borders and also easier communication which is a positive for terrorists.

Globalization also leads to cultural deterioration. Globalization helps to expose people to various cultures which then leads to erosion of traditional culture and eventually even their complete eradication.

Globalization has also led to interdependence among economies as many stakeholders get to invest in a country's economy. This also means that collapse of one country's economy could mean collapse of another which is a disadvantage.

Globalization makes it impossible for regulators in countries to oversee the global impact of their regulations as some regulations may end up being counterproductive.

In conclusion Globalization has both positive and negative impacts but the good far outweighs the bad.

Essay Sample #2 - Globalization and Its Positive and Negative Effects

Globalization is one of the most debated issues in the recent times. The term can be defined as the process by which business organizations develop international influence and start operating in other countries, in addition to the home country. It also encompasses the acceleration of economic, political, social, cultural, and ideological processes, which are aimed at altering people's processes of the world. To many, it considered as one of the best thins that ever happened in the world. proponents of globalization allude that increasing interaction between and among nations plays a critical role improving the way businesses are operated and the lives of people. On the other hand, there are those who hold the view that globalization has never been good. this paper seeks to critical discuss the positive and negative effects of globalization.

There are four main positive effects of globalization. First, globalization increases competition. an increase in competition among producers plays an important role in improving the experiences of consumers. Producers are compelled by the competition to produce quality products that are affordable, thus increasing value to the consumers. Second, globalization leads to the creation of more efficient markets. An efficient market exists when there is equilibrium between what the consumers are willing to pay for and what the producers are willing to sell at. Business organizations are, therefore influenced to adopt efficient techniques of production, thus reducing potential waste. Third, globalization increases wealth equality among the world economies. Wealth is made to flow from one nation to another in the form of creation of job opportunities, and the establishment of new markets, thus increasing the total sales. Fourth, globalization promotes security among nations. The interactions between business organizations and consumers in different parts of the world influences them to have a common purpose and interest in every country. People from different parts of the world are also influenced to put in place measures that will not improve the security of their nation, but also in those countries where their interests are vested.

On the other hand, there are several negative impacts of globalization. First, while outsourcing of labor creates employment to one country, it may create unemployment in the receiving country when the locals lack jobs because the available ones have been taken up by foreigners. second, the increase in interaction among people from different countries with varying cultural backgrounds may lead to the erosion of a nation's most valued cultural values and practices. For example, interaction with business partners from a country where polygamy and homosexuality have not been legalized may influence one to question the values in their home country, and possibly deviate from those values and practices. Third, globalization increases the spread of diseases among nations. An infected person from country travelling top a foreign country could leave the citizens of the visited country infected with the same disease. Additionally, foreign visitors to a country are likely to take home some of the air-borne diseases in the visiting country. Fourth, globalization contributes to the collapse of small and medium enterprises. when multinational corporations set up their operations in a developing countries, they are able to provide better goods and services at affordable prices because they enjoy economies of scale, economies of scope, and economies of experience. Small businesses are, therefore forced out of the market due to the inability to compete.

In conclusion, globalization has both positive and negative effects. Although it promotes world security and market efficiency, it also leads to the collapse of small businesses. Governments, business organizations, and consumers have a role to play in ensuring the positive effects of globalization are maximized to leverage the negative effects, in addition to avoiding them.

Essay Sample #3 - Increased Interdependence among Nations

Globalization has made it easier for nations to obtain the goods or services that they need from other countries. With the assurance that they can easily import life essentials such as food and clothing, many countries have reduced or completely stopped the manufacturing of these products. They instead focus their energy on offering financial services or medical services to other nations. One such country is India (Boudreaux 68). Most third world countries rely on developed countries for the provision of machinery and computers.

This arrangement is beneficial to all the parties involved. However, it is not stable as it appears to the naked eye. If something should happen to cause further destabilization, then all the parties involved will suffer (Weinstein 98). If, for instance, a developing country that relies on a developed country for machinery lacks the capital required for importation, many businesses in that county will suffer.

All countries are financially dependent on their trade partners. The U.S. dollar is used as the world currency in the financial market. Today, the U.S. economy is much stable than it was during the Great Depression. However, should the U.S. economy fall or destabilize, all other countries will face the consequences as well. The only nations that will be safe in such a situation are those that are fully dependent on globalization for their survival (Weinstein 165). Many of these nations are the third world countries, especially in Africa, that are believed to have nothing to offer to the world economy.

Increased Rate of Unemployment

Since the 2008 economic recession, the rate of unemployment in the U.S.A. and many developed countries has gradually gone up. Contrary to this, developing countries are experiencing a much lower rate of unemployment (Boudreaux 150). The wage policies and environmental protection laws in developing countries are much lower compared to those in the developed countries. Because of this, many corporations are investing in developing countries, hence creating more jobs. More job opportunities are lost to the developing countries due to frequent capital transfers from the developed nations (Boudreaux 154).

To solve unemployment in the developed countries, more protectionism laws need to be put in place by the developing countries (Weinstein 189). These laws will protect the workers from developing countries from exploitation by the multinational corporations that are out to make more profits by hiring cheap labor.

Developing countries are importing more products from the developed countries. The result of this is the closing down of many local industries, hence increased rate of unemployment (Boudreaux 134). One way of reducing unemployment in the developing nations is to regulate imports and encourage local production of good, thus creating more job opportunities.

Exploitation of Developing Countries

At the onset of globalization, there was the glamour of people having the chance to world oversees and conduct their business with much ease. While this has become a reality for many people, the negative impacts of the same are just beginning. Globalization has made it easier for the transferability of industries and jobs to the developing countries (Weinstein 186). All this is an attempt to lower production costs, have a lower wage bill and increase profitability in the corporation.

Today, many U.S. industries have shifted their operation to either China, India or in some parts of Asia. A similar situation is developing in Australia. China, India and Asian countries produce goods at lower costs due to availability of raw materials. They also offer cheaper labor compared to the developed countries. The companies make more profits. The profits go back to the developed countries for more development. The third world countries are left struggling economically, despite the fact that they are in charge of manufacturing (Weinstein 197). The transfer of jobs to the developing countries may be viewed as a way of creating more jobs. However, it comes at a big cost as many people are paid less than $3 per hour. With the current living standards, this is barely enough to put food on the table.

This can be solved by the developing countries putting into place better wage policies for their citizens. Before accepting to manufacture goods for a developed country, developing nations should sign contracts that call for financial benefits. The profits should also be reinvested in the developing country that production is taking place. Corporations should also be advised to pursue a more realistic approach to making profits (Casper 124). One such approach is one used by Henry Ford, where he paid his workers enough money that they could afford to purchase the same products that they were manufacturing.

The lack of government regulation is another factor that contributes to the exploitation of third world countries. The governments in these nations need to step up to defend their economies and citizens. Establishment of minimum wage rates will help the people live better lives. Government agencies need to be created to help in the regulation of multinational companies that set base in developing countries.

Cultural Erosion

The observable impact of globalization is cultural erosion, especially in the developing countries. Prior to modernization and globalization, developing countries held their traditional way of life dearly. Their mode of dressing, eating habits, socialization of children, the value of placed on marriage and other cultural practices were passed from one generation to another. Today, the western culture is more prevalent in the world (Boudreaux 234). Few countries have held to their originality as many have taken up what is in fashion today.

Today, practices such as alcoholism, drug abuse, sexual immorality and divorce are at an all-time high. It is high time that traditional values are brought back to the society before moral degradation destroys us. We still have our grandparents who can play the role of reminding us what their ancestors practiced. Cultural exhibitions should be held frequently to remind the youths of their roots.

Increased Competition in the Market

Due to globalization, many countries have eased up their trade regulations. This has made it easy for external companies to penetrate local markets, posing a threat to their operations. Multinational companies are able to set base in any country they so desire due to free trade policies and availability of capital. More businesses have come up, as people try to take advantage of the cheap labor, easier modes of transportation and higher demand of good and services, both locally and internationally (Weinstein 203).

Each new business tries to outdo the other in terms of offering better products and services at affordable prices. This competition is healthy and dangerous at the same time. In a bid to lower prices, many companies are offering counterfeit products, which could be harmful to the consumers (Dollahite and Haun 156). Policies need to be put in place to regulate the number of businesses within a particular sector. This will help to control competition and reduce instances of fake and low quality products.

Increased Health Hazards

As mentioned before, globalization has caused serious environmental pollution. More industries have come up because of globalization. Many nations lack strict environmental laws. Industries have taken advantage of this fact by emitting dangerous gases into the air while manufacturing their products (Boudreaux 253). This has caused air pollution, which has in turn resulted into more air borne ailments. Today, asthma, pneumonia and respiratory diseases are at an all-time high because of breathing in polluted air. The noise made by the industries in the course of their operations has caused serious damage on the hearing of the employees and the people living close to the industries (Haldar 202).

Waterborne diseases such as cholera and typhoid are on the rise due to disposal of waste products in water sources. Many industries lack proper waste disposal methods. They dispose their waste products haphazardly, completely ignoring the dangers associated with a dirty environment. Many trees have been cut down to create space for the creation of more industries. This habit has resulted in less rain for many countries. In the end, this has resulted in soil erosion, drought and famine (Haldar 230). These events have caused the death of so many people due to starvation.

Every country needs to come up with strict environmental laws. Hefty penalties should be put in place for any individual or company that is caught polluting the environment. Social groups should involve themselves more in environmental clean-ups.

In conclusion, globalization has achieved its potential but has caused several negative effects that are doing more harm to the people. It is imperative that globalization be redesigned in such a way that its negative impacts are reduced. Bearing in mind that globalization affects important areas such as democracy, the environment and the economy, policies should be put into place to regulate it. Developing countries need to step up and offer financial and planning aid to the developing countries. There is need to restructure the current international financial system to cater for the needs of both poor and rich nations. Globalization is meant to improve the living standards of all those involved. For this to be achieved, a human face needs to be put in globalization.

Bibliography

Boudreaux, Donald J. Globalization. Westport, Conn: Greenwood Press, 2008.

Casper, J. K. Changing Ecosystems: Effects of Global Warming. New York: Infobase Pub. , 2010.

Dollahite, Nancy E and Julie Haun. Sourcework : academic writing from sources. Boston : Heinle/Cengage Learning, 2012.

Haldar, I. Global warming: The causes and consequences. New Delhi: Mind Melodies. , 2011.

Houghton, J. T. Global warming: The complete briefing. Cambridge: Cambridge University Press, 2009.

Jones, L., & Fraser Institute. Global warming: The science and the politics. . Vancouver: Fraser Inst., 1997.

Weinstein, Michael M. Globalization : what's new? New York: Columbia Univ. Press, 2005.

Essay Sample #4 - Globalization Essay

Summary statements

Globalization is an initiative that has focused on empowering people from different nationalities to engage in regional economics. Automated responses during business to business (B2B) agreements are an example of globalization initiative. The organization creates a culture of competition via geographically shared economic activities. businesses from different countries are enabled to participate in value chain through the shared network and bridging of the cultural differences. The major company objective is to raise a platform where relationship framework across borders can be enhanced leading to regional development.

Globalization in business

The system created by the company relies heavily on the input-output approach of product creation. International negotiation during B2B mostly focuses on the production of firms output from input through a series of interconnected steps in the production process. Organization culture is very important in enhancing the interconnected process since the organization has a cross-border connection that allows easier negotiation in a democratic manner. That means that there must be a voting right during international negotiations.

Cultural diversity plays a big role in international negotiations. For instance organization culture in the USA might be very different from the organization culture in Jamaica. Therefore people from different culture must find common ground during decision making. Negotiations should be purely based on the competition and collaborative nature of the people involved in the negotiations.

<tables or figures insert here>

Pay attention: variety of table or figures usually companying with their own summary statements and highlighting statements, though you may discuss them aggregate. Just make what you write on paper as fluently as you want to pursue your readers, don't treat it just as homework to deal with the teacher.

Framework of international busisiness diagrams

Value

Is a constant factor during B2B and also during democratic negotiations

Value in business to business interaction is measured via current digital devices

Negotiations

Creates a peaceful business environment

Should be democratic

Power

Need to explore complex network (globalization and liberalization)

Has low rate of coverage under the current literature

Tea production and integration into market diagram (liberalized Market)

Highlighting statements

1) Globalization and liberalization provides a context where businesses adopt similar strategies and purse them to attain success; this is despite the difference in cultural practices.

2) Negotiations at international level often must often reach a mutual consent that might be negative to one party that is why meditation should be encouraged.

negotiation capabilities and strategies, despite all that they tend to agree on profits and settle on common strategy of operation. Cultural diversity play a significant role on actors negotiation skills, and thus one must try to understand the diversity before engaging in negotiations

3. Liberalization of world market ensures that value of the commodity being handled is maintained despite the cultural diversity within the liberalized regions.

4. The contemporary world has adopted automated agreement electronically during business to business negotiations that gives power to the people involved.

Trade liberalization

Discussions on what your findings mean

(especially on what sides they have varified your ideas, besides, on what sides this make your idea different from the literature your have analyzed in your homework one.)

Liberalized market that ensures that value is maintained through the entire connection. Sufficient quality and meeting the set standards of goods or services in the global network has remained to be a major objective of the system. For instance tea Network has developed a weightless system which allows digital recording of data and verifying when the product reaches various destinations. In some countries such as Kenyan and Rwandan market is an example of liberalized market. The market has a weighing method that integrates the initial weight from the firm into the system. Such a system removes the effect of an extraneous variable that may affect the payment of farmers. Farmers found such a system reliable and easy to work with. Additionally, other factors such as corruption and taking advantage of tea farmer’s ignorance are not possible with such a system. The liberalized provides a total connection between the chains that enables everyone to be awarded for their effort. Therefore, cultural diversity is negated at each point of service delivery and tea transportation. Globalization enhances value through the revolutions digital system that is beneficial to all the actors in the network as each earns their contribution in the network.

Power, with the current technology in liberalized market system, power to the actors has the effect on cultural. The current globalised market are shaped using the wireless system thus all the databases in the system can be connected securely. For example tea weighing is digital in Rwanda, coffee weighing is digital in Brazil, and the weighed product can be paid through mobile money services. Such payment method and network connectivity eliminates possible corruption and gives the farmers power. Therefore, liberalization of the global market, aims at making international trade network to be fully commercialized and have enhanced service delivery. Such organization of network in African tea network is a clear indication that market liberalization can surpass the common cultural belief of negotiations cross borders. Organized network provides a wireless system where product and service flow is not hindered by the locality or position of an actor participating in the network.

Example of globalization

Negotiation is a situation where local firms agree to do business in the main international market so as to enhance trade. A good example is in the diagram where the tea industry Rwanda has agreed to work with Kenyan market to join the International Tea Market. It involves linkages that are at specific levels thus farmers will not be pressured by the complexity of the system, yet they benefit from its advantages. For instance, in the diagram tea from the factory can either be directly sold to the retailer or it can be auctioned in the international market. Factory prices will not change, but the final consumer will bear the cost of steps that tea has passed. The farmer and the factory are not liable for the extra cost in the interconnected network. Technology is vital in creating a reliable network with a negotiated network in the international trade. Firms are incorporated into the network and their produce bough digitally and transported to the destination of the buyer's choices through the same network. International negotiations thus expands the network coverage reducing the need for one to understand the cultural background of another company or individual since technology creates an easier way of negotiations via the digital platform.

All in all liberalization of the market leads to more trade and corporation among the countries involved. In Asia road and rail network have been built to enhance connectivity among trading countries, Africa is also striving to gain an inch in Globalization by working on its network connectivity in communication and transports of goods and services form one part to the other, technology has played a great role in enhancing liberalization and production as demonstrated by the diagram and explanation of tea processing and transport between Kenya and Rwanda.

Essay Sample #5 - What Is Globalization

Globalization definition

In basic terms, the term globalization refers to the act of integration between various countries from different continents which have come together to form a single unit. Nowadays, the world is simply identified as a global village which is mainly attributed to globalization. Over the years, people from diverse cultures, different countries, and distinct political systems have been unified as part of the current wave of globalization. However, the process of globalization has been associated with quite a number of effects that have prevailed for the past decades. Globalization has been attributed to both positive and negative effects in the world. However, it is crystal clear that the positive effects of globalization surpass the negative results of the same. This essay will critically explain the positive effects of globalization explaining the manner which these effects have been able to out do the negative effects of the same.

First and foremost, globalization has enabled free trade between countries from different continents. Through globalization, it has opened opportunities that promote free trade amongst different countries. In addition to this, it has relieved many traders the burden of the cumbersome trade restrictions that existed before globalization. In this case, globalization has increased trade activities between the developing and developed countries thereby fostering development and sustainability in these particular nations. In the current international business environment which has been made possible through globalization, people are at liberty to trade freely. For this reason, globalization has played a significant role to ensure that it provides a better business environment with less trade restrictions.

Through globalization, cultural barriers and restrictions which existed between people from different cultures have been abolished and replaced with a more free world of socialization, integration, and understanding between culturally diverse individuals. Therefore, it has made the world a global village whereby countries can adapt cultural factors and practices which are beneficial to their people in the long run. Additionally, people from different cultures have been able to learn and understand the cultural practices which benefit them while dropping ones which limit their development.

Globalization has played a key role in the prevention of eruption of war or conflicts between various countries. For instance, international diplomacy through globalization has enabled rival nations to solve their issues peacefully without having to engage in fatal and destructive wars. As a matter of fact, diplomacy has been identified as a major aspect that has helped prevent the eruption of World War III for the last few decades. It has ensured peaceful co-existence of people in the globe, through diplomacy, integration and socialization.

In conclusion, it is reasonably important to note that globalization has resulted in more good than harm. Despite few negative effects which include but are not limited to culture degradation of some people and destruction of the environment, the positive effects of globalization are far much better compared to the related negative effects of the same. As stated above, free trade, abolishment of cultural barriers and promotion of peace are few among several positive effects which highlight the importance of globalization. For this case, the positive effects of globalization prevail.

Essay Sample #6 - Challenges of Globalization

Economic Challenges

India has been a key global player over the years; however, the onset of the globalization posed a critical challenge to the local economy development. The adverse implications on the economy do not reflect in GDP growth rate based on the nature of market development. The country is currently facing some skewed performance in the agricultural sector. The industry is employing over 40% of the working population in the country, yet the changing performance indicates a downward trend from 44% of total value to the recent rate of 14% (Trading Economics n.p). Such cases cannot be accounted for in the increasing rate of development, which contributes to the difficulties associated with poverty management processes. Most of the labor force is skewed and does not include a significant percentage of women (Shelly n.p). Most of the jobs are casual, which pays less with few technical and manufacturing jobs as compared with most emerging markets with similar structure and resources as India. Similar effects have also been depicted in fiscal transfers, financial intermediations, and asset ownership and development.

Moreover, most of the foreign investment in other countries does not match the level of international business in Indian market. Most of the organizations in the country are controlled, and their ownership is by major economies in the world. Eventually, the level of production has depicted the trend towards exportation without local consideration. Therefore, the degree of import in the country has been increasing, which results in a high balance of payment deficit. Globalization has created inequality in the country where two major economic zones have been generated. The urban divide is associated with higher income levels, security, and infrastructural development rates. On the other hand, the rural section is underdeveloped with high poverty rates that neutralize the national income advancements. The onset of globalization opened new markets and diverse investment opportunities. Nevertheless, the country still records a large number of citizens affected by the increasing poverty over decades of GDP increase, which is estimated to be over 300 million people (Trading Economics n.p).

Long-term Implication of Stiff Competition

The level of competition in emerging markets has a two-way influence on the local firms and economy of the country. The impact depends on the level of innovation and capital of investment. The capacity of the organizations to improve their competitive advantage and control the international influence is also a determining factor. In most cases, the firms are affected based on the U-shaped Theoretical Framework of competition based on innovation as baseline factor. The same scenario has been depicted in India and other emerging markets across the world. In India, the firms have benefited according to their level of technology application and capital of innovation, which is a phenomenon emanating from globalization effect on transitional markets. However, the firms that have been unable to enhance their innovation capacity have lost control of the competitive market, which leads to the poor performance of the local enterprises in the country. Most firms operating in the manufacturing and service sectors with the same capacity as the most efficient companies have accrued the same advantages regarding revenue and cost management. On the other hand, other firms with little operating capital have experienced slow growth and low income.

Moreover, those organizations seeking to enter the industry have faced stiff market resistance, which affects the process of industrialization and corporate wealth dissemination. The rate of development of new firms operating on small initial capital is slower as compared to rates in other emerging markets. On the other hand, Multinational Corporations have increased dominating the manufacturing and infrastructural sector. The technical nature of the labor force required to sustain the organizations creates a crisis since the greater percentage of the working group in India are semi-skilled (Shelly n.p). Such a scenario affects the process of poverty management in the country. Furthermore, the firms located in urban centers have accrued higher profits if specializing in local production. Most global businesses have been associated with high profits, which make most companies target international market while neglecting the local demands. The location frontier is the primary defining factor for the effect of competition and innovation in India. The persistent of such a corporate culture and inclination could affect the capacity of the government to manage poverty through business effectiveness. However, the adoption of the vertical as well as horizontal relationships for local and international firms has enabled local and developing companies in the country to strengthen their competitive abilities. Nevertheless, the lack of unifying policies affects the ability of the state to ensure uniformity across all sectors of the economy.

Other Negative Effects of Globalization

The onset of globalization also encouraged the existence of auxiliary challenges that is affecting the rate of economic growth. The process of setting a business in the country is complicated because of the cumbersome bureaucracy and corruption rate in the country. Most businesses are facing difficulties while trying to sustain their level of generated revenue because of the numerous and non-transparent tariff regimes. The state does not have a clear and predictable regulatory strategy to manage business operations. Most firms find it difficult to operate in India based on the increasing taxes. Most wealthy individuals prefer setting their firms in other Asian economies.

On the other hand, the import duties in the country are extremely high as compared to other emerging markets. Furthermore, the space factor because of immigration and increased population has created social challenges such as hostility among locals as well as political conflicts. The poor economic performance is also affecting the ability of the country to compete in the African market and increase the import capacity. Other factors such as an inability to control equitable wealth distribution also characterize the global integration between India and other economies in the world. A greater percentage of the development process emanating from large organizations and investments are jointly shared with other major economy players such as the European countries.

Recommendations

It is clear from the above evaluations that India, as an emerging market, has achieved a lot regarding economic growth and development because of globalization. The country has collaborated with other developed as well as emerging markets to sustain the targeted performance. Nevertheless, the state has faced significant challenges regarding investment, employment, governance, and wealth distribution. However, effective planning and strategic implementation can transform the current situation for the transitional development of the local market. Some of the essential measures with global positioning potential have been outlined below.

Pursuing Effective Corporate International Connection

The Government of India, as well as other emerging markets, should consider nature of the economic partnerships they establish with other nations. The process of selecting the associations and joint investment should evaluate the needs of the country as well as the long-term implications of such ties. Lack of proper planning and implementation could affect the local firms and thus downgrading the anticipated rate of economic development. On the other hand, the country should consider the effect is emanating from developed economies that bring about skewed competition and local dominance (Moulin et al. n.p).

Modernization of Institutions

The exploitation of ICT potential in India has not been fully exploited, and there is a need for the state to consider upgrading institutions to modern and automated standards to guarantee equitable benefit. The access to technology services will improve the quality of production, knowledge dissemination, and information processing. The need to protect government’s revenue from embezzlement will ensure a high level of income accountability that could spread to the private sector (Moulin et al. n.p). Upgrading the public institutions to international standards will assist the country to compete in the global market with large economies. The effective business environment is a contributing factor to the success of investments both in public and in private sectors. Therefore, the government should enhance protectorate approaches for local and international investors.

Talent and Education Management

The level of education enrollment and technical skill training is relatively low in India. The government should consider modern strategies that will assist in enhancing the level of education. The process of training should be tailored to the development agenda as well as sustainability targets. Moreover, the state should evaluate the implication associated with a small portion of high school enrollment ending up in technical training. Such a scenario has affected the development of technical skills in the country, which explains why most of the workforce from India end up as casual laborers since executive positions are limited. Proper planning in education and talent management will assist the national to control expertise and social mobility that reduce the available opportunities in the county for the residents (Moulin et al. n.p). Moreover, strategic implementation in the education sector will eliminate the skewed employment culture associated with gender disparity in the workforce.

Access to Investment Capital and Strategic Policing

The problem of accessing finance affects most entrepreneurs seeking to invest in emerging markets. Small income individuals find it difficult to get the initial capital thus most rewarding opportunities are left in the hands of foreign entities. The government of India has strategic plans that ensure that business firms access necessary funds through public support, bank loans, and grants; however, the marginalized groups in the country are yet to access the corporate sector. Most of the people without access to banking services live in India; in fact, 400 million of the 2 billion global figures are Indians (Moulin et al. n.p). Moreover, the need for strategic policing is essential for unified growth, access to the market, and predictable economic performance. The states should establish stable tax regimes, sound business protection laws, and unbiased export-import management mechanisms.

Table 2: Summary of Bank Access Statistics in India (Source: World Bank 2015)

FACTOR

METRIC

Those without bank accounts: Global Figure

2 Billion People

Those without bank accounts: India Only

400 million

Those without bank accounts in India: 2011

35%

Those without bank accounts in India: 2014

53%

Those without bank accounts in India: Women

37%

Those without bank accounts in India: Men

55%

Conclusion

In conclusion, experiences emanating from globalization on emerging markets create diverse implications. A critical evaluation of markets such as India depicts both positive and negative outcomes associated with diverse sectors of the socioeconomic and geopolitical dimensions. Through globalization, India has advanced economically through effective sociocultural intermingling, economic growth and development, geopolitical expansion, and labor market. Moreover, the level of market competition and efficiency, as well as new markets and corporate integration, has enabled the government to stimulate innovation and technology development through global interaction. However, the country has also faced challenges such as long-term implication of stiff competition and economic stagnation. Nevertheless, the government can enhance local multidimensional performance through several mechanisms. Access to investment capital and strategic policing, talent and education management, modernization of institutions, and pursuing effective corporate international connection will improve the level of equitable growth and development.

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