Globalization is the inclination of the economy of the world to function as one unit, with the large international companies pacing and conducting business all over the world.
A few of the many effects of globalization are “the ending of trade barriers, free movement of capital, cheap transport and increased use of electronic systems of communication such as the Internet.” (Longman, 2000). Moreover, these channels of communication have helped a homogenous and largely commercial culture, and as an example, “Disney movies are the children’s food the world over.” (Ransome, 1997), as well as Barbie dolls, fast food and the Americanized youth culture that is attracted to the wealthy suburbs of Sydney, and in addition, the fusion of cuisine is another effect of the phenomenon, the fusion of ethnic foods throughout Europe. One of the downsides is the “widening of the gaps between the rich and the poor.” (Ransome, 1997).
And also, “the integration of the global economy that started five centuries ago” (Ellwood, 2001) now is increasing poverty and inequality in the world because “national governments lose the ability to control their development strategies.” (Ellwood, 2001). But these reforms need to put meaningful employment and human rights as the heart of the policy and next is the ecological health of our planet.
As a testament to globalization, the CEO of Gillette razor Al Zeien believes that Gillette is a global company for “it sees the world as a single country.” (Griffith, 1998). This “one size fits all” (Griffith, 1998) policy has been effective for the company, for Gillette uses the same strategy for all the nations. And Zeien believes that moving overseas is beneficial in building niche markets within countries. Their aim for number one status is so that Zeien stated “we’ll only be in markets where we can be number one for focus is what gives us the bang” (Griffith, 1998).