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Definition of Global Mindset
The Globalized World of Business
What is Globalization?
Globalization
Examples of MNC
Pros and Cons
Components of Global Mindset
Intellectual Capital
Psychological Capital
Social Capital
Driving Forces
Developing a Global Mindset
Professional Level
Personal Level
Global Mindset Inventory
Barriers to Global Mindset
Benefits of Global Mindset
Business Creation
Synthesis
Useful Links
References
There are pros and cons associated with globalization. Below are some examples:
Advantages
Contribute to global solution and prosperity
Knowledge integration – better flows of information, technology, culture, ideology
Increased connectivity
Increased trade in goods and services
Increased competition keeps prices relatively low so inflation is less likely to happen
A lot of options for investment
Easier to travel
Helping developing countries
Disadvantages
Places pressures on global environment and natural resources
Threaten social and economic networks at local levels
Hard for states to rely and enforce national regulation
Cyber Terrorism
Possibly severe income disparity
Smaller companies have a hard time competing with the big companies
Increasing homogeneity (harder to maintain local traditions and culture)
Loss of low-skilled jobs due to outsourcing