Globalisation Advantages and drawbacks

Globalisation is a fashionable word to describe trends perceived to be dramatically and relentlessly increasing connections and communications between people
of the work environment, wages and benefits. In the one hand globalization has a lot of drawbacks, in the global market; multinational corporations are able to wrestle control away from local businesses and societies and to concentrate wealth in the hands of those few who have large investments in corporations. As a result, people and governments lose power and control, and the people become vulnerable to the whims of a global power structure which can wield enormous control of natural resources (land, timber, minerals, water, etc), as well as people’s compensation and health and welfare benefits. With insufficient legal structures to force corporations to comply ecological and social conscience in the way they conduct business. In addition,the global economy is impacting the workplace both in terms of the types of jobs that are being created versus those that are disappearing and also in terms Developed nations have outsourced manufacturing and white collar jobs. That means fewer jobs for their people. This has happened because manufacturing work is outsourced to developing nations like China where the cost of manufacturing goods and wages are lower. Programmers, editors, scientists and accountants have lost their jobs due to outsourcing to cheaper locations like India. Besides that, the benefits of globalization are not universal. The rich are getting richer and the poor are becoming poorer. In the other hand, Globalization has a positive side as well. For instance Globalization has created the concept of outsourcing. Work such as software development, customer support, marketing, accounting and insurance is outsourced to developing countries like India. So the company that outsourced the work enjoys the benefit of lower costs because the wages in developing countries is far lower than that of developed countries. The workers in the developing countries get employment. Developing countries get access to the latest technology. Furthermore, increased competition forces companies to lower prices. This benefits the end consumers. And increased media coverage draws the attention of the world to human right violations. This leads to improvement in human rights.