Good morning Miss Lee and fellow students,
Globalisation is the Worldwide movement in the direction of economic, financial, trade, and communication integration? Globalization implies opening out beyond local and nationalistic perspectives to a broader outlook of an interconnected and inter-dependent world with free transfer of capital, goods, and services across national frontiers. Globalisation is a form of trade (Sarah Lacy, Tom, 2008). People who are supporting globalisation are oblivious of its disadvantages. To people against globalisation, it is a huge crisis. There are many advantages and disadvantages for globalisation. It is obvious that people who support globalisation take it as an advantage and people who don’t take it as a disadvantage. We are all part of ‘Global Village.’
“In order to explain consumer behaviour, two basic models co-exist in the economic literature: the local and global theory.” (Reinhard John, 2006). Due to global consuming, traditional differences in national taste would disappear, while local consumer preferences and national product standards would become ruins of the past as modernization would repress religious and cultural influences and would finally give rise to the rational consumer worldwide (Ragnar Karl Willer, 2006).
(Ragnar Karl Willer, 2006).
The two causes for this are cultural homogenisation which is mixing up of cultures and global industries.
Globalization has been blamed for many things happening in the world child labour and environmental degradation to cultural homogenization and a host of other ills affecting rich and poor nations alike (Ragnar Karl Willer, 2006). With decreasing barriers to international trade over the last century, and especially in the last 50 years, more variety has been brought to consumers in most countries of the world. In this sense, globalization is increasing diversity in everyone’s experience (Ragnar Karl Willer, 2006). The industries exhibiting global pattern in today’s...