Question

Before starting the discussion you must read the following Required Supplemental Reading Material posted in Blackboard Lectures. Week 4.a: Social Media then and now http://www.ragan.com/Main/Articles/48761.aspx Week 4.b: Delivering Bad News https://www.forbes.com/sites/erikaandersen/2013/03/06/how-great-leaders-deliver-bad-news/#7ee7004c3dc6 (please copy/paste this link into your browser search area in order to open it) When you have read the above articles, you must do two things: 1. Write a summary of what you have learned from the articles, what you agreed (or disagreed with) and so on. Discuss (talk about) the reading material with your fellow students. You can talk about what you learned from the articles; what you liked; what you did not like; what the authors missed in their article; how the articles relate to your experience and so on. When I read your discussions I want to see evidence that you have actually read the material and that you truly understand what you read and how it applied to the real world business environment. I hope my instructions are clear -- if they are not it is your responsibility to tell me what parts you don't understand and ask for clarification (communications takes at last two people). Please note that to obtain your max grade you need to post your original "thread", be substantive 150 words or more and to collaborate with the forum (at least two classmates postings). There should be only one thread for the first person who posts opens the conversation, and two threads for the second person at the forum. The next students are expected to read what others have already written and to add to the conversation once there is activity at the forum by posting the initial, and subsequent the two classmates posts all at once. . Just saying " I agree with Maria" does not add to the conversation. Opening a new thread is like talking to yourself in an empty room.

Answer 1

Economic Globalization refers to increasing interdependence of world economies in terms of flow of capital and growing cross border trade of commodities and services. Globalization is a result of two major factors. One, Technological reforms that have significantly reduced the cost of Communication and transportation making the concept of national boundaries and distance for certain economic activities meaningless. Second, Institutional/ market oriented reforms such as cutting down of cross-border tariff rates, transition from centrally planned economies to market economies.

Multi national corporations are the promoters of this trend of globalization. They globally organize production and allocate resources according to the principle of profit maximization. It should be noted that amongst all the sectors, globalization has impacted financial sector most favorably. The volume of cross border dealings in stocks and bonds, the foreign exchange transactions, etc have shown commendable growth. Globalization has also led to industrial restructuring and adjustment which is evidenced by the ever increasing number of cases of mergers and acquisitions across countries, which will shape the world’s industrial scenario in the long run.

Developed countries are the top gainers of the globalization era. They directly or indirectly determine the rules of international economic exchanges, influence the international economic and financial organizations, in turn driving the entire World’s economy.

The Developing countries, however need to be cautious. Along with providing the advantages of technological advancements, foreign capital, management experience etc, it poses certain risks as well. It has widened the per capita income gaps between the rich and poor countries, making the rich richer and poor poorer. It is also posing a threat to economic safety and financial stability of developing countries. The International economic organizations should play a bigger role in the process of economic globalization. They should focus on bringing transparency in the manner in which trade is conducted and take care of the interests of the Developing countries. They should ensure that the benefits of globalization are available to every country, different departments and interest groups. The governments should also proactively work towards reforming economic systems and readjusting economic structures. They should create framework to support their industry and service sectors to reap the maximum benefits of globalization and amend their policies accordingly.