Globalization is the procedure of upward, developing and escalating the business, services or technologies all through the world. It means free movement of goods, service, people and information transversely the nationwide borders. It is very essential for a company to make accomplishment easier by efficiently globalizing selling products to the global market. It is mostly related to business, trade and international relations by creating a borderless world. There are many factors affecting and accelerating globalization trends worldwide. The world has now become a global village.
The effects of globalization have been seen on the custom, environment, society, security, way of life, and thoughts. With the expansion of hi-tech communication and fast transportation facilities, the world has come closer. However, it is creating more opportunities for industrialist countries moderately than for the emergent ones. We can reach the furthest corner of the world within a second. Likewise, in our present-day and era it has become an element of every country’s formation. If one country is suffering, others can instantly come to its support. Globalization involves the breaking down of tariff barriers and allowing the free flow of raw materials and goods between dissimilar countries.
There are many advantages as well as disadvantages to globalization. With the expansion of hi-tech communication medium and speedy transportation facilities, the world has come closer. We can distribute our joys and sorrows like next door neighbors. But globalization has some demerits too. The gap between prosperity and scarcity is ever widening. In the contrary, In the name of help and co-operation, the industrially developed industrialist countries are misusing the low-priced labor accessible in poor countries. The industrially developed industrialist countries are exploiting the poorer countries. This is the usual alarm about the difficult effects of globalization in countries like developing countries. The poorer and developing countries should make sure good governance and proficient management to get the conveniences of globalization. It also brings all types of dissimilar customs and actions into our homes through satellite television channels and the Internet. Conflicts of interests are a leap to occur and tremble societies at such times.
Globalization has more fruits than spoil, and it should be protected with all strength. Proper education is also necessary. Therefore, the procedure of globalization involves the removal of economic barriers and boundaries on the movement of capital, goods, commodities, and human resources. If the developed and developing nations work together in terms of unity, fairness and impartiality the procedure of globalization will make our world an enhanced place to live in.