Contemporary World - Prelim

Process by which ideas, knowledge, information, goods and services spread around the world

Is driven by the convergence of cultural and economic systems. This convergence promotes and in some cases necessities increased interaction, integration and interdependence among nations. The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world becomes.

Globalization refers to all those processes by which the people of the world incorporated into a single world society, global society.

Globalization can be defined as the intensification of worldwide social relations which link distant localities in such a way that local happening are shaped by events occurring many miles away and vice versa.

In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of captial among countries and easy access to foreign resources, including labor markets, to maximize retuns and beneift for the common good.

3 Technological Advancements that Played a Role in Globalization

• Internet

• AI Emergence

• Communication Technology

• Transportation

about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political, social and economic integration.

One is not a reason why we need to study Globalization.

• Enables business to compete

  worldwide

• Globalization: inherently interdisciplinary

• Allows us to examine various globalizing processes

• Forces us to ask questions re. global citizenship

Increasing sameness in the direction of dominant groups

Mixing of cultures, producing new and unique cultures. A key concept is glocalization.