Globalization notes
Lecture #1: 1/14
● Globalization is important because it will give me a perspective on how the global
world will/could impact a business. This could be in terms of economic impact,
monetary impact, or something else that will have some sort of impact on how
business functions.
● Everyone lives on one earth but differences in everyday life, make up what
globalization is
● Globalization is similar to business, in the sense that it has many different scenarios
where it can be applicable, even in day-to-day life.
● Throughout the semester, work on developing: a global awareness, a global point of
view, and a way to continue to understand how it applies to your life. In addition,
throughout the duration of the course, keep tabs on news that is occuring around the
world. Just google what news has been prevalent recently and be prepared to discuss
it.
Textbook notes 1/14, Chapter 1
The World System, Colonialism, and Inequality
● Connections between people are continually evolving, and being created, whether that
is via communication or transportation or other
● Understand that not every situation, interaction, relationship is always what you think
it may be
● The World System is basically understanding that the world is primarily shaped on a
capitalist world economy
● Capital means wealth/ resources invested into a business with the goal of turning it
into a profit overall
● The world-system theory refers to the idea that all economies, while they do function
independently, they are all part of ensuring that the world is continually able to
function without interruption
● The core is a collection of the most powerful nations
● The industrial revolution was a historical transformation, where what was
conventional became much more modern
● There were many socioeconomic changes that occurred during the industrial
revolution, such as English national income tripling, employers recruiting workers
that they could pay less (mainly women and children) and employing them so that
they could save money.
● One large piece of impact that the industrial revolution had, was shifting production
from people in mills, to large factories. (Shifting from manual labor to machine labor)
● (This is still happening today), but income inequality was continuing to expand
between the upper class, and lower class
● In general, average household income has been gradually increasing over time, at
least going back to 1965
● Environmental situations and pollution have a significant impact on safety of people
,● Generally speaking, low income communities get hit the hardest when thinking about
certain environmental impacts on different places. Companies may target certain
places because they know that dumping some sort of hazardous waste will only affect
this select group of people.
● Colonialism is the political, social, economic, and cultural domination of a territory
and its people by a different power for some sort of extended period of time
● Development occurs with different countries, at varying times, depending on what
sort of technology certain countries are using versus other ones
● Neoliberalism is basically the economic liberties that are laid out in the manifesto
● First World, Second world, and third world all refer to whether or not a nation is
developed (and when)
Lecture #2: 1/16
● The place that a company is located does play a part into the way that a company
deals with certain situations
● Certain different scenarios or changes possible, with a specific product, will have
impact on how that respective product is used for the consumer
● Nationalism vs. Globalization: different peoples views may not align, but that does
not necessarily mean that their views are contradictory to one another
● Neoliberalism vs. Populism: populism is meeting large groups needs, neo liberalism is
focusing on a whole, not individual
● Globalization effects: Countries adjustments to the rest of the world, then measures
that are taking to adjust to the results of those actions
● Macroeconomic arguments for globalization: Competitiveness, cheaper
goods/services, increase in employment for businesses
● Cost of globalization: Threats to original cultures/environments, income gap is
widened, negative impact on the (large scale) impact on small businesses
● Three main streams in globalization (generally speaking): hyperglobalization - new
era and new rules, skeptics - globalization does not exist and countries work best
when alone, transformationalists - globalization is bringing change that is new, and
unknown, lots of uncertainty will result from changes
● Depending on circumstances, global events have an impact on business, whether
direct or indirect
● Globalization, current definition: everyone has their own view on globalization, this
may depend on what field one is part of
● Globalization definition for this classes purposes: neutral, treats it as a process, not a
result, people can have their own perspectives, not one perspective is correct, the
reality will be different for other people
● Globalization for a business person: Marketing & HR are affected by culture,
manufacturing & operations get affected new technology, political and economic
environments play into how businesses are able to function.
, ● Globalization impacts different aspects of life between, professional, personal, or
other
● Globalization has certain relations with other aspects of history, such as colonization,
where neither can exist without the other one.
● Colony: territory that is under political control by another geographically distant place
● Empire: Group of states/countries that are controlled by one authority
● Mercantilism is where a nation’s prosperity is dependent on how much wealth they
are able to accumulate. Generally imports and exports are balanced, one does not
occur more than the other
● Course Objective: To build the skills to analyze issues and events in the context of
globalization.
● Globalization homework 1/21: This is the article that mentioned globalization is:
https://www.investopedia.com/articles/economics/10/globalization-developed-countri
es.asp. In the context of this article the word globalization means: A process based on
worldwide strategies where the goal is to expand business and gain advantages, while
keeping expenses to a minimum
Textbook Chapter 2
● Globalization does not just have one definition, in this case, it has a range of
definitions
● Can be viewed as a positive or a negative term
● Globalization can be viewed as a perspective rather than a phenomena
● Globalization, and taking over of different nations can have many different
roots/influences
● Globalization generally has the aftermath of war, type of effects
Lecture #3: 1/23
● Globalization affects different levels of society, whether it is at the individual level,
organizational level, or national level
● There are a few main forces that started globalization, namely politics, territories,
trade among others
● Different territories have different ways for colonizing, and most occured at different
times.
● A colony is defined as: A territory that is under that political control of another
geographically distant entity - the colonial power
● Technology provides huge advantages for different countries (and places) when one
has more advanced technology than the other. For example weapons, if a place has
more advanced weapons, they will have an advantage over the place with the less
advanced weapons
● When more trade occurs, and more exports/imports happen, tariffs will be higher and
also increase as the number of imports and exports continue to rise and change.
Lecture #1: 1/14
● Globalization is important because it will give me a perspective on how the global
world will/could impact a business. This could be in terms of economic impact,
monetary impact, or something else that will have some sort of impact on how
business functions.
● Everyone lives on one earth but differences in everyday life, make up what
globalization is
● Globalization is similar to business, in the sense that it has many different scenarios
where it can be applicable, even in day-to-day life.
● Throughout the semester, work on developing: a global awareness, a global point of
view, and a way to continue to understand how it applies to your life. In addition,
throughout the duration of the course, keep tabs on news that is occuring around the
world. Just google what news has been prevalent recently and be prepared to discuss
it.
Textbook notes 1/14, Chapter 1
The World System, Colonialism, and Inequality
● Connections between people are continually evolving, and being created, whether that
is via communication or transportation or other
● Understand that not every situation, interaction, relationship is always what you think
it may be
● The World System is basically understanding that the world is primarily shaped on a
capitalist world economy
● Capital means wealth/ resources invested into a business with the goal of turning it
into a profit overall
● The world-system theory refers to the idea that all economies, while they do function
independently, they are all part of ensuring that the world is continually able to
function without interruption
● The core is a collection of the most powerful nations
● The industrial revolution was a historical transformation, where what was
conventional became much more modern
● There were many socioeconomic changes that occurred during the industrial
revolution, such as English national income tripling, employers recruiting workers
that they could pay less (mainly women and children) and employing them so that
they could save money.
● One large piece of impact that the industrial revolution had, was shifting production
from people in mills, to large factories. (Shifting from manual labor to machine labor)
● (This is still happening today), but income inequality was continuing to expand
between the upper class, and lower class
● In general, average household income has been gradually increasing over time, at
least going back to 1965
● Environmental situations and pollution have a significant impact on safety of people
,● Generally speaking, low income communities get hit the hardest when thinking about
certain environmental impacts on different places. Companies may target certain
places because they know that dumping some sort of hazardous waste will only affect
this select group of people.
● Colonialism is the political, social, economic, and cultural domination of a territory
and its people by a different power for some sort of extended period of time
● Development occurs with different countries, at varying times, depending on what
sort of technology certain countries are using versus other ones
● Neoliberalism is basically the economic liberties that are laid out in the manifesto
● First World, Second world, and third world all refer to whether or not a nation is
developed (and when)
Lecture #2: 1/16
● The place that a company is located does play a part into the way that a company
deals with certain situations
● Certain different scenarios or changes possible, with a specific product, will have
impact on how that respective product is used for the consumer
● Nationalism vs. Globalization: different peoples views may not align, but that does
not necessarily mean that their views are contradictory to one another
● Neoliberalism vs. Populism: populism is meeting large groups needs, neo liberalism is
focusing on a whole, not individual
● Globalization effects: Countries adjustments to the rest of the world, then measures
that are taking to adjust to the results of those actions
● Macroeconomic arguments for globalization: Competitiveness, cheaper
goods/services, increase in employment for businesses
● Cost of globalization: Threats to original cultures/environments, income gap is
widened, negative impact on the (large scale) impact on small businesses
● Three main streams in globalization (generally speaking): hyperglobalization - new
era and new rules, skeptics - globalization does not exist and countries work best
when alone, transformationalists - globalization is bringing change that is new, and
unknown, lots of uncertainty will result from changes
● Depending on circumstances, global events have an impact on business, whether
direct or indirect
● Globalization, current definition: everyone has their own view on globalization, this
may depend on what field one is part of
● Globalization definition for this classes purposes: neutral, treats it as a process, not a
result, people can have their own perspectives, not one perspective is correct, the
reality will be different for other people
● Globalization for a business person: Marketing & HR are affected by culture,
manufacturing & operations get affected new technology, political and economic
environments play into how businesses are able to function.
, ● Globalization impacts different aspects of life between, professional, personal, or
other
● Globalization has certain relations with other aspects of history, such as colonization,
where neither can exist without the other one.
● Colony: territory that is under political control by another geographically distant place
● Empire: Group of states/countries that are controlled by one authority
● Mercantilism is where a nation’s prosperity is dependent on how much wealth they
are able to accumulate. Generally imports and exports are balanced, one does not
occur more than the other
● Course Objective: To build the skills to analyze issues and events in the context of
globalization.
● Globalization homework 1/21: This is the article that mentioned globalization is:
https://www.investopedia.com/articles/economics/10/globalization-developed-countri
es.asp. In the context of this article the word globalization means: A process based on
worldwide strategies where the goal is to expand business and gain advantages, while
keeping expenses to a minimum
Textbook Chapter 2
● Globalization does not just have one definition, in this case, it has a range of
definitions
● Can be viewed as a positive or a negative term
● Globalization can be viewed as a perspective rather than a phenomena
● Globalization, and taking over of different nations can have many different
roots/influences
● Globalization generally has the aftermath of war, type of effects
Lecture #3: 1/23
● Globalization affects different levels of society, whether it is at the individual level,
organizational level, or national level
● There are a few main forces that started globalization, namely politics, territories,
trade among others
● Different territories have different ways for colonizing, and most occured at different
times.
● A colony is defined as: A territory that is under that political control of another
geographically distant entity - the colonial power
● Technology provides huge advantages for different countries (and places) when one
has more advanced technology than the other. For example weapons, if a place has
more advanced weapons, they will have an advantage over the place with the less
advanced weapons
● When more trade occurs, and more exports/imports happen, tariffs will be higher and
also increase as the number of imports and exports continue to rise and change.
