Answered Essay: What are the positive effects of Globalization? Explain in a one page or more paper.

What are the positive effects of Globalization? Explain in a one page or more paper.

Expert Answer

The positive effects of Globalization are:

  1. Increased competition : due to Global competition the domestic companies have raised the standard of their product and services. In order to survive in the market they have focused mainly on customer satisfaction and improved quality of their products.
  2. Increased employment : In most of the developing countries due to lack capital the domestic companies cannot grow and most of the human resources remain unutilised and unemployed. With globalization, the companies invest in the developing companies which generates employment for them.
  3. Spread of technological know-how : With globalization the developing countries get to access the advanced technologies that generate in the western world.
  4. Spread of culture : The world we live in consists of different culture each having its own features. With globalisation, one country gets to know the cultural norms prevails in the countries. In this way they can see the flaws in their own culture and pick up the one which is more accurate.
  5. Foreign investment and capital flow : A lot of companies invest directly in the developing countries which results in the increase of Foreign Direct Investment which ultimately results in increase in reserve of foreign exchange.
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