THE IMPACT OF GLOBAL FORCES ON SUSTAINABILITY
It is essential to understand that globalization can be termed as a process of increasing international integration in different fields, that is, social, economic, political, and cultural. It is thereby being referred at a multifaceted phenomenon. The purpose of this paper is to broaden the understanding of global forces in sustainability.
Growth of global markets
Globalization plays a role in encouraging nations to continue in the productions of specialized products that are mostly available in their local market. It has led to global integration to help inaccessibility of cheap raw materials. Global markets tend to promote economic growth among the countries from where they buy their raw materials as they invest their income overseas by building industries for the production of cheap goods. Due to this, cross border markets have increased. Developed countries have opened more markets for raw materials, which can be easily accessible in most developing countries (Vaz, & Nijkamp, 2019). In this case, more opportunities arise in developing countries as more investors flop in to understand how the market runs.
Increasing both the mobility of buying and selling on other markets has led to an increase of division of labour as well as different focuses on the competencies of an individual at all levels. Most global markets companies have merged to transnational companies while others cooperate in operation in order to realize synergies and be in a position to open more markets and offer their products at low prices.
Cross-cultural management
Culture tends to pertain to how different people do their things as well as their beliefs and values. Due to globalization, people have managed to engage in various cultural activities that tend to be profitable either economically, socially, or spiritually. Cultural erosion has evidently been recognized in both developing and developed countries (Vaz & Nijkamp, 2019). Cross-cultural management has led to increased cultural exposure and understanding of people regardless of their background. Due to interrelationship among people, closer cross border ties have been achieved. Communities have managed to learn new things and new techniques for handling matters.
Competition
In business-wise, its referred to as a one way of doing business. It tends to play significant roles in worldwide companies. It is the reason behind the high quality of products and services as well as drops in prices of commodities (Vaz, & Nijkamp, 2009). The competitive advantage of business increases the communication of ideas and innovations—significant living standards increase due to an extended market increase. Competition has led to the globalization of diversification of foreigner’s interaction. Most companies train their employees as a strategy to increase the efficiency and quality of products. Qualified workers tend to work efficiently; hence, a competitive advantage in production and market of products.
Reduction of poverty and increasing income inequality
Due to globalization, poor people have managed to access job opportunities. Due to employment, most of these young workers tend to multitask to get enough money to cater for their families and live a decent life. In this case, the gap between the rich and the poor reduce considerably (Carr & Chen, 2017). However, some companies tend to employ skilled workers due to complicated systems of operation. Skilled workers tend to be educated; hence they provide excellent results.
Most people tend to seek skills uniquely to increase their payroll as well as get more job opportunities in their careers. In this case, poverty is eradicated as people can live a good standard of living. The effect of world economic growth in terms of income distribution in overwhelming; hence, more measures are being taken into consideration to reduce the gap.
Technology
It’s a significant result of global forces on sustainability. Advancement in technology serves the needs of modern society in a broader way (Carr, & Chen, 2017). Investors tend to improve technique in their businesses to help in the operation of day to day workloads. Advanced technology has paved globalization of countries. Modern technology has broadly opened developing countries to a broader global market. They can now be in a position to purchase or sell their products online at favourable prices, work remotely with companies in developed countries. Internet interaction of people through social media and other platforms have improved the new standard of living.
Due to advancements in technology, most people are in a position to satisfy their basic needs quickly. It’s important to understand that global information technology has managed to help most organizations and corporations to monitor and track their operations significantly. Information technology has boosted the creation of highly sophisticated models of interrelated variables and their maintenance. Due to growth in technology advancement, innovation can be monitored, trends can easily be projected, and simulation of operations can now be analyzed.
Investments
For an economy to remain sustainable, it is essential to invest in its markets and local firms. Due to globalization, investors have found their way to spend in most developing countries. Foreign investors tend to culminate in many developments in a country. Investors boost a countries economy by paying taxes to the government as well as creating sources of employment for the job opportunities they tend to build.
They tend to collaborate with government agencies and improve institutions that benefit the locals’ people (Vaz, & Nijkamp, 2019). The government allowed foreign investors as a way of ensuring its global market is widening up, and its local people are getting employment. Due to investment, more infrastructure has expanded within the local areas. They have been a more significant interdependence trading among the investors and traders hence fostering prosperity.
Education
One of the critical takers in globalization is knowledge of both fundamental knowledge and acquired. Most developed countries have advanced colleges and schools that encourage overseas studies. The most student in developing countries recognizes the opportunity in studying in developed countries and take advantage of getting skills to use in their careers (Paganetto & Acocella, 2018). Enhanced education plays a positive impact on globalization in most developing countries. It’s important to understand that an economy cannot be sustainable if most of the people are uneducated (Vaz, & Nijkamp, 2019). Educations play a significant role in ensuring the economy is able to sustain itself. Most countries have created platforms for educating people as well as making education compulsory. Without knowledge, investors and traders would have a hard time hiring locals if they are all uneducated.
Labour conditions and rights
Due to job displacement and different labour conditions, it has led to fairness in working condition. Mostly firms that had high wages moved most of the operations to lesser developed countries. In this case, most industries were in better shape in accessing cheap labour as well as ignoring most national labour Acts that were set up. Most workers were based on temporary as they could be fired and rehired quickly (Carr, Chen, & Tate, 2017). The labour union was forced to create awareness of workers on their rights and make demands when denied.
Due to the availability of labour, most firms increased their production as they could work efficiently and intelligently. Due to globalization in employment, most workers have received education as well as training from most multinational companies—the belief of the higher qualified workers you have, the more production increases of quality goods.
Ecological effects in Increase in prosperity
Due to an increase in production and employment, most people have managed to have a decent standard of living (Waheed, Khan, & Veitch, 2019). Education advancement, technology, and means of communication have dramatically led to changes in lifestyle. Economic progress has significantly led to the process of globalization by creating more sources of goods. Specialization of companies and skilled workforce has led to the prosperity of industries as they tend to produce goods and services that they can offer at best and give high-quality products in the most efficient way.
Comparative advantage is achieved as most Increase in production of different goods plays an economic interest in a country’s competence of acquiring other products with others (Stoughton & Ludema, 2016). Communication and transport have played a role in prosperity as a force in globalization—intended way of companies and people specializing in the production of goods and services. Global trade has contributed to achieving prosperity.
Economic prosperity has, therefore, led to the growth of social equity. Most products that are produced by specialized companies and skilled manpower tend to be of high quality and long-lasting (Khan, 2018). However, it’s important to note that increasing prosperity may pause a challenge in overexploiting the environment and its natural resources.
Globalization under pressure
The fact that globalization has achieved an intended purpose of fostering economic growth and peace among states. There are other fundamental motivating forces such as terrorism, which is considered as a consequence of both cultural and economic globalization. Global governance is, therefore, supposed to lay down major political frameworks that will sustain globalization (Waheed, Khan, & Veitch, 2019). In this case, policies should be set on how economic affairs in regards to external economic activities and development policies are set.
In conclusion, it’s essential to understand that the effects of global forces on sustainability are a broad area of research. The global economy has a great way of sustainability; therefore, it’s essential to ensure the impacts of globalization are considered as a significant factor in today’s world economy. Measures for global governance should be enforced as a way of stabilizing global forces in the world and have a sustainable way of living.
References
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