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Globalization is the most significant event in modern society
Speaker 1
IntroductionGlobalization is the most significant event in modern society; it plays a vital role in the changes of several vital elements of society. Owing to the globalization, the perception for various matters rapidly changes. It has huge impact on human values, culture and society of United Arab Emirates. The globalization influence almost all sphere of human lives but the businesses in United Arab Emirates has witnessed most of its effect. It has both positive and negative effects and the debate on the positive as well as the negative effect of the globalization is become a hot topic for several individual, organizations, agencies as well as the government department, who are in the position for defending the attack of modern globalization trends. Here we have a interesting debate in this class on the merit of globalization; however, at the end of the debate we have to deal with the current situation, whether we dislike it or like it. We are in favor of the globalization; we support globalization because though it can be found that there is few adverse effect of globalization in United Arab Emirates, we can see there are several positive effects, which can be, shaded the negative effect of globalization. The positive effects of globalization are as follows:
Due the globalization, we can experience international transaction on daily basis and due to this the stock of foreign money mainly AED is increasing day by day, which has strengthen the United Arab Emirates’s economy
Currently the export as well as import business can be done even from the remote areas due to this the business opportunity is increasing and it will be possible even for the people of remote areas so that many new exporter and importer is coming in the market
Owing to the globalization, the businesses in UAE has been promoted via technology as well as e-business. With the help of modern technology and communication techniques, the business become easier and without any hectic business can be done internationally
The globalization omits the distance between the companies and the consumers currently the consumers as well as the companies has pull the market closer.
The globalization explore to the greater economic, political, cultural and technological dependencies between national and international institute as well as economics.
Globalization can be of market as well as of the production
The globalization of the market explore the UAE market to the consumer due to the globalization the consumer can buy their preferred goods from across the world
The companies can produce their product in United Arab Emirates where they can produce their product where they will get their product with minimum cost and maximum quality.
The globalization can reduce the cost of the market.
The globalization opens new market opportunities.
Increase the level of income.
With help of globalization, the company can access lower cost labor from across the world.
The company can access technical expertise from across the world.
The companies can access the production materials from across the globe, so that the better quality of production material with cheapest price can be obtained, which increase the profitability of the company.
The globalization supports the innovation , as well as it promotes technological innovation due this we are getting more advance technology, the communication technology is advancing rapidly which help in better control and the co-ordination, the shipping is now more dependable as well as efficient.
Speaker 2
Cross examination of opposing team position
Three points our opposing team has kept and pointing the weakness of their argument. The points can be crossed easily though. The positive side of globalization in United Arab Emirates and arguments for the discussion are as follows-
New risk- With expanding the business there is no risk involved as there is a high degree of diversification in the market and increasing amount of competition in the UAE market. Large markets bring certain amount of positive points like quality improvement in the business and business process. The profit is likely seen to have fluctuating rates bringing stability and predictability in businesses in United Arab Emirates.
Arguments for it- Globalization is about new opportunities increasing leverage and easy credit as the money flow is across the boundaries irrespective of local and national in United Arab Emirates. Globalization boosts the aggregate demand, increasing the income cycle and growth in financial condition of the firm. With huge amount of risk, a little risk can be adjusted.
Job creation- With expansion of business there will be creation of jobs in United Arab Emirates. The company would expand in United Arab Emirates, as more opportunities will be available in these areas (Rugman and Brewer, 2001). There will be more opportunity for United Arab Emirates as these companies willing to expand will prefer the developed countries.
Arguments for it- Expanding the business brings positive note for the company and the country. There is an increase in the wealth of the organization. The United Arab Emirates is already developed with the aspect of job and income groups of their population the new company cannot make a difference in the country like this. There is opportunity for the organization as well as the home country the company belongs too. Thus, the efficiency of the employees and the people associated with the organization increases.
Offer work good remunerations and other benefits- In the UAE, globalization will offer the change to works. They will be trained about the changes in management caused by globalization. In addition they will be better remunerated.
Arguments for it- With expansion and globalization the company gains a lot benefits and even the benefits are shared with UAE and its economy where the organization plans to expand. Globalization brings new advancement in the economy of the developing country and changes the shape of operations. Availability of cheap labor or workers is a benefit for the organization. United Arab Emirates has made laws to protect its people and look into the matter that they do not get exploit.
An example can be taken to support my team argument- A company dealing with fashion products wants to expand in the UAE market. As a developing country, it offers huge benefit to the organization as well as to the UAE economy. The organization gets opportunity to explore new market with new customers and a scope to increase its revenue. The UAE economy benefits by getting a new brand and new offers in the market in social point, gets new jobs opportunities in the market. The United Arab Emirates has laws, which are in favor of its people and to verify the exploitation of its people.
Speaker 3
Interactive question and answer periodWe are supporting globalization as the globalization has several positive effects on the business as well as economy of our country. Here there might be question that should the multinational companies be allowed to invest freely in the gulf region?
In my opinion that the multinational companies must be allowed to freely invest in the gulf region because as much as investment will came the development will happen, the infrastructure of the region will be improved. The job prospect will be increased so that it will open several opportunities to the people of that particular region. The prospects of local business also are increased. The living standard of the people of that particular region, where the investment happens is increasing. For this particular reason in my opinion, foreign investor must be allowed to invest freely in the gulf regions.
The second question that can be raised that whether production in one location is beneficial or the production in multiple locations is beneficial. In my opinion, multiple location production is beneficial for the company. The Company can access technical expertise from across several places where the company can easily access expert peoples. Who can serve the company in better way. The company can access the labors from across the globe, where the labors are more energetic as well as efficient with minimum cost. In these ways the companies can control the production cost and increase the profitability of the company. The company can access the production materials form the across the globe, so that availability of the materials are increasing. The companies can obtain the best quality of the production materials from across the globe. The materials are not available in all the places as well as the labor and expertise are also not available at the same category in everywhere. So that. If the companies have, several production houses in several locations the company easily access the entire facilities and due to these the productivity of the company is increasing. Several times, it can be found that in one location there are labor problems or happening some incidents due to this unrest the particular area, in that point of time if there is single production house of the company the production can be stopped. However, in multiple areas production house, the production is carrying on.
The opposing team argues that globalization is bad for the UAE however; in my opinion, globalization is good for UAE. The globalization increases the investment as well as enhances the standard of the labor. The economy of the UAE becomes more environmental friendly and open. Most of the companies concern is increasing about the future market as the competition are increasing rapidly. The poor people from the UAE are benefitted from the open economy; the UAE society is benefitted by globalization and supporting in spread of worldwide democracy. The globalization import good culture from other nation, it protects deep moral as well as cultural rules. Owing to the globalization specialize product and labor can be obtain.
Speaker 4
Conclusion and summary argument
Globalization is the most helpful concept for any organization big enough to survive the competition and expand its territory of businesses in United Arab Emirates. The financial crisis faced by United Arab Emirates together had harmed many of the economies of the developing countries and the most suffered in this period are the people of the countries. Globalization helps these nations to bring their economies into form and bring benefit from the opportunities they are getting. With globalization comes development in the areas like communication, technology, the industry or sector, etc. A company expanding in a particular country brings huge opportunities for the organization and the country. With growing opportunities in the United Arab Emirates industry, the market is growing too. Globalization brings efficient markets, wealth to the shareholders and the country equally, creates partnership between country and organization and innovative ideas in the market.
The opposition team’s points are not valid or not as important as their arguments are not so strong. They have argued on the new risks the organization has to take well in that case any business involves the same amount of risks for any organization, even operating in the home country. For example- Tesla Motors faced continues loss for the initial ten long years of its operation but in 2013, the company make profits and achieved a good position in the share market. This is a huge amount of risk any company can take to survive the market (O’Meara, Mehlinger and Newman, 2001).
The second point they had was on the job opportunity crisis of developed contries. Any organization willing to grow will have a tendency to leap a market growing and supporting the organization and its operation in order to have a balanced working environment. If the country had to put more capital and less of income generation, the company will not look for expanding in that area at all.
The third point the opposite team had, was on the exploitation of workers in the developing countries. Any country in today’s market will have laws to check the exploitation of the people of its own countries.
The arguments of my team are strong enough to support the argument.
Globalization is an all encompassing term or concept that can be defined in various ways
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Globalization is an all encompassing term or concept that can be defined in various ways. In a summary review article of developments in western Asia, The United Nations Economic and Social Commission for Western Asia defines globalization as the concept of reduction and gradual removal of barriers between sovereign nations to facilitate free flow of goods, capital, labor and services. The World Trade Organization (WTO) on the other hand defines globalization as a historical stage of accelerated expansion of market capitalism leading to a recombining of economic and social forces on a new territorial platform. The World Bank simplifies globalization as the growing integration of economies and societies around the world. Despite there being many definitions, there is an implied sense of a shrinking world marked by monumental changes in the spatial and temporal aspects of social existence. It operates on a platform of technological, economic, political, and cultural exchanges accelerated by advances in telecommunication, transportation, and infrastructure. The term ‘global village’ has come to denote the oneness created by this integration especially with the advent of the internet. Some features of globalization can be seen in Kenya which is a fast growing economy.
Kenya is considered an economic powerhouse within the east African region. There are trends in all spheres of life pointing to the rise of globalization. As a capitalist economy, the country embodies global tendencies including expansionism. The Kenyan government has encouraged foreign investments with mixed results. Internationally the flow of manufactured goods increased more than 100 times since 1955 rising from $95 billion to $12 trillion within the period, (BBC news). Kenya being a strong exporter definitely contributed to this increase in trade volumes. Companies like Coca-Cola, Unilever, and Nestle are pointers to the liberalization of the Kenyan economy another key feature of globalization. These companies bring in their technological expertise while exploiting labor from the market. They use the same production methods employed back home including marketing and branding. The presence of these subsidiaries shows the effect of a free market where Kenya has opened its border to foreign trade.
Globalization in Kenya is also evident in the internationalization of culture. Since the pre-colonial period, tremendous changes have happened in the social sphere of life in the country. The English language has been incorporated as the official language and other international languages are popular in most institutions. The internet has also spawned popular western lifestyles such as dressing, music, cuisines, especially among the younger generations. This has broken the frontiers of culture creating a global mass culture.
Another aspect that can help comprehend the concept regards international relations. Globalization in some instances has come to denote one large arm of governance where each country keeps check on the other. Kenya is a member of the United Nations among other international and regional bodies. During political crises, the powerful economies such as the US always intervene, ( HYPERLINK “http://en.wikipedia.org/wiki/Leonid_Grinin” o “Leonid Grinin” Grinin L.E. pp. 190–224). The influence of international bodies such IMF and the World Bank is also evident in the fiscal and governance policies carried out by the leaders. The country has served as a mediator in regional crises such as in Sudan again indicating that it has fully incorporated the concept of political globalization.
The advancement in technology in Kenya can also be used to explain globalization. The activator of globalization is considered as science and technology. The most visible manifestations of globalization are in technology and communications fondly known as information technology (IT), (Mugabe, J. pp 2-4).The need to compete internationally has led to upgrade in the technology capability in the country. This is especially evident in information technology specifically the internet where the government has invested in fibre optic cables thus reducing internet charges. The easy flow of information has seen the realization of a global village and international colleges now offer distance learning through the internet. In addition plans are underway to build an ICT hub to further the gains made in information technology. There has also been an increase in the import of advanced production practices from international partners.
The above examples from Kenya clearly indicate the new direction the world is taking. There is the collapse of frontiers from all angles of the world to create one large economy. Geographical distance has completely been redefined and even rendered inconsequential. Since the first use of the word in 1930, much has changed in the interpretation but still, the underlying import still remains the integration at all spheres of life between all countries in the world. This is clearly seen in the case of Kenya which is considerably a small economy.
Works cited
“Globalization shakes the world”, BBC News, January, 21 2007
HYPERLINK “http://en.wikipedia.org/wiki/Leonid_Grinin” o “Leonid Grinin” Grinin L.E. Transformation of Sovereignty and Globalization HYPERLINK “http://www.socionauki.ru/authors/grinin_l_e/publ_eng/” [1] In Grinin L. E., Beliaev D. D.,
and Korotayev, A. V. (eds.), Hierarchy and Power in the History of Civilisations:
Political Aspects of Modernity (pp. 191–224). Moscow: KD ‘Librocom’.
HYPERLINK “http://plato.stanford.edu/entries/globalization/” http://plato.stanford.edu/entries/globalization/
Lamy, Pascal. Humanising globalization. Geneva, Switzerland: The WTO; [updated 2006
Jan 30; cited 2006 June 1]. Available from:
HYPERLINK “http://www.wto.org/english/news_e/sppl_e/sppl16_e.htm” http://www.wto.org/english/news_e/sppl_e/sppl16_e.htm
Mugabe,J. The Impact of Globalization on Science and Technology in Sub-Saharan
African countries, african technology policy studies network, (ATPS), Nairobi,
(2002) pp 2-4
HYPERLINK “http://www.pastor-russell.com/volumes/V4/Study_07.html” ”The Battle of Armageddon”, October, 1897 pages 365–370″. Pastor- russell.com.
HYPERLINK “http://www.pastor-russell.com/volumes/V4/Study_07.html. Retrieved 2010-12-10” http://www.pastor-russell.com/volumes/V4/Study_07.html. Retrieved 2010-12-10.
Globalization is a process and a means to attain goals of globalism
Globalization
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Abstract
Globalization is a process and a means to attain goals of globalism. It is one of the most influential sources in determination of the future of the future path of the world. Globalization has many dimensions including political, social, cultural, security and environmental among others. This paper will focus on the meaning of the concept of “globalization” as viewed from all these dimensions. Different individuals, groups and organizations have different perspectives regarding the meaning of this concept. As a result there are different interpretations and reactions to “globalization”. Some view this concept as being beneficial and helping in advancement of economy while others view as being costly to the different segments of the world society. Thus, this paper will evaluate the benefits and costs stemming from globalization. In my own view, globalization is advantageous to for countries. I have highlighted some of the reasons behind my argument in this paper.
Globalization poses a lot of challenges to national governments. This paper highlights some of these challenges while still focusing on the different dimensions of this concept. Also, it will be prudent to mention some of the strategic approaches employed by different governments to cope and deal with such challenges. This paper goes a step further to evaluate the impact of globalization on Toyota motor company. It highlights some of the weaknesses and strengths of this organization brought about by the unstoppable process of globalization. Finally, this paper looks at some of the opportunities created by globalization process and also the potential threats it has to this company.
Globalization
Globalization is a process that allows greater interaction among countries, persons and businesses around the world leading to development of the global economy. It is manifested by political, social, cultural and technological integration of individuals, societies and economies all over the world, (Boudreaux D. J, 2008 p. 1). To a large extent, globalization results into harmonization of international laws and policies. For example, each country formulates its own trade policies regarding taxation and tariffs. With the influence of globalization, different countries are able to work to have identical policies in order to trade efficiently between each other.
According to Global Environmental Changes, Globalization and Food Systems (2005, p 67), the process of globalization is brought about by the linearization of international trade paving way for corporations to pursue larger markets. In addition, globalization has been brought about by the huge advances in infrastructure, communication and transportation. It means that all actors around the world are able to participate in global relations under common rules. Several agreements including the World Trade Organization (WTO) agreements provide the rules for trade, labour relations, environmental care, sanitary and food safety compliance among others. When a government signs them, it is ruled by the agreements. In many cases, this lead to revision of already laid national policies so as to conform to the agreements, (Sapru, 2008, p. 503). An example indicator of the extent of globalization is by looking at the volume of international transactions occurring per day. Currently, there is a flow of $ 1.2 trillion flowing through the New York currency markets every day. At the same time, the volume of international stock market transactions per day exceeds that amount.
Benefits of globalization
According to Global Environmental Changes, Globalization and Food Systems (2005, p 67), globalization process has numerous benefits. Some of these benefits are listed in this section.
Globalisation greatly helps to increase communication among people around the world on a more permanent basis and at much low costs. Presence of internet services recently has led to stronger corporate and personal relations. It helps them to advertise products and service, to acquire knowledge and obtain entertainment among other benefits.
Through development of new technology, financial transactions are made more quickly and much less charges. This facilitates business since it enables international flow of funds which supports international economy.
Globalization has enabled tourism business to grow significantly. This is due to the fact that, tourists are able to find more information about sites and new opportunities more easily since it is readily available. Through advancement in technology, firms of any size and from any location are able to agro-tourism and ecotourism.
Globalization has increased mobility of technological innovation including those for agriculture and agro-forestry. It is now possible to purchase materials, tools, equipments, seeds, vegetative tissues, and embryos by internet or mail and pay for them by electronic cards or card transfers.
Advent of new technology which has been a factor in globalization has led to increased foreign direct investment. This has resulted into higher competition by businesses globally and has enabled international business to thrive effectively.
With support of sound economic policies and technological advancements, many countries have been able to realize high growth rates in their economies. For example India has had a continued economic growth rate of 8% and more or above per year recently, (WTO, July 2008).
There has been an increase in the international flow of goods and services caused by the relaxation of trade barriers and compliance to common rules.
Countries that have adopted Liberalized economic policies have seen a reduction in the levels of poverty due to the associated wider market for local goods and services.
A newer technology in research, IT and production leads to reduction in the costs of production and increase in levels of sales. In addition, this leads to increase in the level of skills possessed by the labour force, (WTO, July 2008)
Due to the increase in flow of goods across borders, consumers are able to get better products at lower costs. This helps to mitigate the effects of inflation to a nation.
Costs of globalization
Apart from benefits, globalization is also associated with various costs as described below.
Faster financial flows and increase in interdependence on global basis lead to more international transfer of financial instability. A good example is the exchange rate and financial crises in Asia in 1998 starting from Thailand to South Korea. (According to Global Environmental Changes, Globalization and Food Systems 2005, p 67).
Globalization is associated with environmental and health problems such as global warming and pandemics. This is due to reduction in integrity regarding environment by corporations who take advantage of the weak regulations in developing nations.
Due to globalization, conflicts can escalate beyond particular boundaries or raise the stakes of conflict. For example, globalization may enhance the transfer band use of weapons of mass destruction,( Arnold, R. A., 2008, p 448)
Globalization has led to increase in possibility of civil war within nations and also war between countries as they fight for resources.
There is high possibility of transmission of diseases between nations unintentionally recently.
There is increased likelihood that economic difficulties affecting one nation may affect many other nations.
Globalization has led to increased flow of labour from developing to developed nations to seek for employment.
In my view, globalization is largely advantageous for countries. To a large extent, globalization increases rate and speed of international movement of goods and people in the world. At the same time, it helps to increase connection among all people around the world through the mass media. For example, it is possible to communicate with many persons throughout the world using mobile phones or internet services at much lower costs. In addition, globalization has led to increased interdependence among nations internationally. This has helped to increase economic prosperity in the developing countries. Environmental protection is enhanced across the economies of the developed world. Throughout the world, globalization has helped to improve the living standards of people due to increased level of food security and improved technology and skills. This is evident since, statistics indicate that, from 1981 to 2001, the number of people surviving on less than $1 dollar per day decreased from 1.5 billion to 1.1 billion. The reduction was more significant in the developing countries, (WTO, July 2008).
Challenges of globalization to national governments
National governments experience many challenges stemming from globalization process. Some of these challenges are examined in this section.
According to Wijen, F. et al (2005, p274), the unequal distribution of benefits and costs poses a great challenge to development of the low and medium income countries. They export primary products that are of much low value than when processed. This has often led to worsened levels of economic uncertainty, increased poverty and vulnerability.
Globalization enhances increased participation of the private sector in international trade. Such actors require rules of operation, unrestricted access to imports, efficient social and economic infrastructure, and stable macroeconomic environment, all which are to be provided by national governments. (United Nations, 2000 p 18)
There seems to be a shift in control of nations’ economies from the governments of sovereign states to other entities such as nation states, multinational organizations and international organizations. In this sense, national sovereignty seems to be undermined in the process.
Globalization has reduced the power possessed by national governments since they have no power over technological flows and national currencies.
Due to globalization, many nation states have lost monopoly power that they ought to enjoy within their borders. This is due to increased participation of private enterprises in global finance, industry and trade without the cooperative decisions of national governments, ( Pfaller, A & Lerch, M., 2005 p. 93).
Strategies by governments to mitigate the challenges
Many governments are formulating policies in reaction to the increasing challenges posed by globalization and also with a view to exploit opportunities arising due to globalization for future economic growth. Some of these strategies are;
Adoption of gradual and selective financial approach to financial (as in china’s case), integration so as to avoid risks of banking and currency crises.
Attraction of high value investments by global high value industries, as it has been done by irish governments. (National Research Council (U.S.) Committee on Globalization of Materials Research, p 24)
Support of development of high quality products and services through educational support, training, maintenance of competitive tax and macroeconomic environments among other ways. Ireland is a good example that has succeeded in this area.
Most governments have increasingly invested in science and technology in areas of research, innovation and technological development.
Improvement of market access for processed agricultural products from their countries by low income countries. They have proposed to reduce tariffs on exportation of such goods and provide subsidies to their production. This will enhance increased participation and rise in benefits from the processed products than when exporting the primary products (World Bank, 2007 p. 8)
The impact of globalization on Toyota Company
Toyota Company is one the leading manufacturers of motor vehicles in the modern world in fact it has taken the leadership over other similar companies in its field over the last several decades. Recently, this company which is based in Japan has become one of the most influential actors in the world market, (Toyota Mortal Corporation, (2004, p. 1),). This company owes its international market expansion to the process of globalization. The relaxation of trade barriers across national borders has greatly supported this company just as many other large companies in the world. Consequently, this company has entered into new markets especially in the developing countries. It has been able to open factories to manufacture and assemble cars in all continents and in different countries. Toyota has established some of its branches in the following countries: K, France, Poland, America, Venezuela, Philippines, Pakistan, India, Malaysia, Thailand, Argentina and Mexico among others. Due to reduction of financial barriers, Toyota Company is able to supply its products to the local markets in those countries,( Toyota Mortal Corporation, 2004, p. 1).
Due to the minimal financial barriers, Toyota Company has been able to develop a production chain within different countries, making it possible to reduce the costs that could be associated with transportation of its products across borders. As a result, this company has been able to significantly reduce overall costs of availing its products to the customers, (Toyota Mortal Corporation, 2004, p. 1). This has enabled the company to reduce the prices charged to its products. That way this company has attained a competitive edge when new opportunities arise. For example, due to globalization, Toyota Company was able to develop and find ample market for Toyo corolla and Toyota Yaris in Europe and Africa. In US, this company dealt with SUV model which got significant demand.
According to Toyota Mortal Corporation, (2004, p. 3), the integration of Toyota company in the global economic trade has led to development of ethical problems. This is caused by the fact that the Toyota corporate culture is defined by the Japanese culture. This culture is sometimes not accepted by employees working in other countries especially the western states. At the same time, Toyota Company faces a threat to its traditional image, (Toyota Mortal Corporation, 2004, p. 3). As this company expands internationally, it results in building of plants and employs personnel especially in the third world countries. This threatens the traditional view of Toyota as a reliable company manufacturing vehicles of high quality. To avoid this, this company needs to set up an effective system of management throughout its chain of production.
Conclusion
To conclude, globalization, as it has been seen from its definition is not an economic phenomenon only. Instead, it is a wider concept manifested by political, social, cultural and technological integration of individuals, societies and economies all over the world. Globalization enhances connectivity, interdependence and integration of the world society in the global age. Though they sound more theoretical than practical, there are many benefits of globalization as disclosed in this discussion. The challenge is thus left to individuals, corporate and national governments to make this process a reality. However, as they do so, they need to bear in mind the costs associated with this phenomenon. Evidently, the less developed countries are the affected in this case as they try to catch up with the developed nations.
Though it poses challenges to national governments, it is good to recognize that the world will continue on its way to globalization. Therefore governments should continue to play their role in shaping the future of globalization through establishment enlightened policies and strategies. However, to cope with the challenges of globalization, it doers not require the hand of a government alone. Rather, individuals, and firms need to play their part as it has been seen with the Toyota motor company. Therefore, with more co-operations, globalization can be more beneficial than costly in the long-run to any segment of the world society.
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