GLOBALIZATION (200 WORDS)
Globalization is the spreading of anything worldwide.
However, generally it is the process of globalizing products, businesses,
technologies, philosophies, etc. all through the world. It is the creation of a
successful interconnected marketplace without any limitation of time zone and
national boundaries. The most common and clear example of globalization is the
spread of McDonalds restaurants all around the world. It became so successful
in the worldwide markets because of its effective strategy adapting the culture
of different countries in their menus to suit local tastes of people. We can
say it as internationalization which is a great combination of both, the
globalization and the localization.
It is very hard to decide whether the revolution
of global marketplace is beneficial or harmful to the humanity. It is still a
big confusion. However, it is also tough to ignore that globalization has
created greater opportunities to people worldwide. It has changed status and
way of living of people in the society to a great extent. It is hugely
benefiting the developing nations by providing various developmental
opportunities. If we take it positively, it may eradicate the regional
diversity and establish a homogenized (normalized) world culture.
It is supported by the information technology and show huge interaction and
integration among businesses, companies, government and people of various
countries. Globalization has positively and negatively affected the tradition,
culture, political system, economic development, lifestyle, prosperity, etc.
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