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Globalization (Part II)

I talked with Mr. Mehmat Pehlivan, a Principal Hydrogeologist at Bays Enviromental, and asked him the same question (“What does Globalization mean for the world’s businesses, and what are the merits and disadvantages?”) with the addition: “Is Globalization a need for our generation since businesses are not the same as they used to be 20 years ago?”

“Globalization is a natural transition of nations in light with increased communications and trade. We need to realize that the world is not as big as it used to be 100 years ago ( I only mentioned 20 though). I think globalization will benefit every nation, big or small. Small or underdeveloped countries need to find their niche in trade, which can be cheap labor, specialized technology, tourism, mineral resources etc. Underdeveloped nations will benefit from technological advances sometime faster than developed nations”, he said.

Sharing his experience he added, “One example is that those countries, which did not previously have a developed phone system, adapted cell phone technologies a lot faster than the countries which already had developed phone systems in place. Globalization will make corporations adapt to different cultures and countries in order to be competitive in a global market. I think globalization will increase diversification. If a Chinese company is building and selling American Indian craft, is more likely to study and understand the culture as well”.

And when talking about corporations and their experience when they do go global and how governments are responding, Janet Monk, executive consultant at iTrust Solutions Inc. responded, “Globalization levels the playing field in some respects. It exposes the lack of dexterity of large corporations, their inability to be nimble and responsive. It provides opportunity for smaller, more agile enterprises to emerge. It opens foreign markets to most and enables competition on a global scale, especially with the evolution of the internet and Web 2.0. The first rule of this game is: If you are the low cost provider or the best in class solution, you win”.

And what about governments? I asked her. “Some really interesting things to watch include how each country tries to "modernize" its antiquated laws governing global trade. Prior to globalization, these laws may have been very effective. In this recovering, global economy, the ability of governments to respond (not react) to the changing marketplace will have a profound impact on the winners and the losers. Everything from import/export laws to data privacy to taxation will lay the groundwork for the fate of many enterprises, countries, and standards of living.

9-6-2010 by Ali Ahmad for TonySurridge.co.uk