Posted: March 24th, 2023
Social, Economic Activities
Challenges/ Benefits/ Contradictions
In essence, has provided that although there are different approaches to handling compensation issues for multinational companies, the best method remains to be The Going Rate Approach. Concisely, this approach is merited by its ability to maintain equity, easy transfer of an organization’s culture, simplicity, identity, coordination, and ease in the absorption of employees in a host country.
Capital/ Financial Flow
The Transformation of Social Worlds is an interesting article by Stanley Eitzen and Maxine Zinn. Mainly the authors explore the globalization process and how different societies and groups have been shaped in the present and the past. The first chapter introduces globalization as the process through which social and economic issues interconnect people around the world. In addition, the history of globalization has been in existence since the 1900s (Eitzen and Maxine 1). Nonetheless, due to economic volatility and continental speed, connections have been transformed through changed production and marketing methods. In essence, this study will discuss the extents to which ideologies related to political, organizational, cultural, and trade policies, technologies, and travel modes have changed due to globalization.
In the second chapter, different debates encompassing globalization are outlined. The first part discusses Anthony Gidden’s perspective on globalization. Concisely, in this section, Gidden acknowledges that due to a globalized economic life, capital and financial flow have improved for the better (Eitzen and Maxine 13). Nonetheless, globalization is not easy, considering that large economies have collapsed from global economic activities. However, according to Gidden, if existing policy-making institutions are reconstructed, all the setbacks associated with globalization will be resolved. The second part talks about Thomas Friedman’s ideology of a flat world. According to Friedman, globalization has contracted the world into one flat universe, which poses both positive and negative impacts on the inhabitants (Eitzen and Maxine 18). For instance, globalization is attributed to the efficient delivery of capital universally, but plenty of terror activities have increased due to enhanced communication. Notably, part three discusses Pankaj Ghemawat’s opinion on why the world is not flat. According to Pankaj, globalization highly contributes to inequality since few people benefit from this process, while security reasons restrain and constrain traveling issues (Eitzen and Maxine 25). Therefore, Pankaj maintains that globalization is not yet a reality. Thus, governments should be cautious during the construction of state policies governing global economics.
The last part discusses the ideology of three authors, Jeremy Breacher, Tim Costello, and Brendan Smith on the specters of globalization. According to Jeremy et al., the 20th-century social-economic platform has integrated in the sense of ideologies and policies within the political, corporate, cultural, production, marketing, and digital arenas (Eitzen and Maxine 31). Nonetheless, unexpectedly several contradictions that pose harm arise from globalization. For instance, there has been an increase in poverty, inequality, economic deregulation, environmental degradation, and political instability.
Apparently, from the first chapter, this book shows that globalization has significantly contributed to changes in all aspects of life in today’s world. In fact, each article from the four authors acknowledges that this process has positively impacted the social, and economic platform globally. However, the same writers have also provided that there are myriads of challenges and contradictions resulting from globalization.
Eitzen, D S, and Maxine B. Zinn. Globalization: The Transformation of Social Worlds. , 2012.
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