Description
Introduction
In one sense, globalization is mostly about emerging technologies and new business applications. New technology is adopted, and business leaders must determine how much to allocate to the research and development of innovations. However, society must also decide on how to best manage new technologies to regulate growth and maintain social stability. Because nearly all countries are part of a globalized community, these concerns touch almost every person on the planet.
The challenges and opportunities of a globalized economy are truly vast. Some have benefitted more than others, and the disparity in gains is widening. The question for individuals is how best to access globalized products and services to better their lives. Firms must understand how to compete and thrive to be profitable in a dynamic globalized system. Governments need to both cooperate and compete to keep the entire system running. There are no simple solutions to our ever-changing strategic challenges.
Reading Assignment
Gray, A. (2017, January 10). What is globalization anyway? World Economic Forum. https://www.weforum.org/agenda/2017/01/what-is-globalization-explainer/
Targema, T. S. & Msughter, E. S. (2017). Book review: Joseph E. Stiglitz’s making globalization work. https://www.researchgate.net/publication/326786373_Book_Review_Joseph_E_Stiglitz’s_Making_Globalization_Work
Optional Video
The Economist’s Society. (2021, February 2021). Joseph E. Stiglitz on “Rethinking Globalization – Post Covid and Post Trump. [Video] YouTube
Discussion Assignment
Review the material from Dr. Joseph Stiglitz’s on globalization from the Reading Assignment and do your own research. Then, go to the discussion forum for Unit 8 and engage in a dialogue with your classmates by answering the following questions:
1. What are some of the ways globalization has not worked out? What are the principle causes?
2. Consider the ethical implications on individuals, firms, and governments. What ethical actions can be taken to address globalization?
3. What role does a stable financial system play in maintaining globalization? Provide an example of an unstable financial event and how it affected global activity.
Your Discussion should be at least 250 words in length, but not more than 750 words. Use APA citations and references for the textbook and any other sources used.
You are expected to make at least three posts to the discussion forum during the course of the discussion period.
Instructor Graded Assignment
Pick any organization you are familiar with and analyze ways they have successfully used globalization to expand markets and profitability. What were some costs of entering a globalized market? Do you think that the organization would prosper under even greater globalized markets? Why or why not? What unique ethical dilemmas does the organization face in a globalized environment?
Prepare a two page (double-spaced) essay. The paper should be 12-point font, Times New Roman, be at least 500 words, and include a final source list.
This assignment will be graded by the instructor, so there is no Assessment Form provided. Please do not peer assess this week’s assignment.
Learning Journal
Student should document their activities, record problems they may have encountered and draft answers for Discussion Forums and Assignments. In addition, the student should consider the following questions for reflection: How has globalization affected you personally? On balance, has globalization been positive or negative for you? Briefly, what do you envisage as the future of a globalized market system?
