Globalisation Essay Example | Topics and Well Written Essays - 2000 words - 1

Globalisation - Essay Example Consequently, it has made a resounding effect on the picturesque of mankind playing a pivotal role in the social aspect and thereby making drastic changes in the welfare of the civilisation of mankind. Hence, globalisation can be referred as a process of amalgamation through which exchange of world views, products, ideas and different facets of cultures takes place (Lee & Vivarelli, 2006). Based on this context, the paper will be concentrated on explaining the concept of globalisation as an on-going phenomenon by critically discussing the major features of the terminology. Emphasising on the vividness of the term ‘globalisation’, an explanation will also be provided in the discussion henceforth, elaborating the theoretical context of the phenomenon. Concept of Globalisation Globalisation can be referred as one of the major outcomes of the continuous expansion of trade activities and exchanges taking place since ages in the progressively integrated and borderless internat ional economy. There have been extraordinary developments in the trade and exchange related activities, through services, production functions and also through the interaction of currencies in the capital movements (Ojeili & Hayden, 2006). Consequently, globalisation has emerged as one of the revolving strata, opening the doors in the international economy and leading towards the assimilation in relation to markets on a global basis. Although the phenomenon is much debated and illustrated in the economic sphere of the world economy, it has also been playing a crucial role in influencing the social sphere of mankind, interrelating and apparently comparing one culture with another. This also provides a broader scope of harmony and uniformity within the global social atmosphere. Hence, it is on the basis of these rudiments that globalisation has often been regarded as a ‘mega-phenomenon’ rather than a mere change process (Stefanovic, 2008; Houghton & Sheehan, 2000). It is in this context that globalisation process is often argued to facilitate ways for trade liberalisation as well as economic liberalisation heading towards the reduction of conservative and monopolistic trade contributing largely in the development of a liberal world. The description provided by Archibugi & Iammarino (2002) further illustrates that â€Å"the pace of globalisation and that of technological change have in fact been strictly interrelated and, from a long-term perspective, it appears less important to establish which one should be considered responsible for triggering the other rather than to establish that they mutually enforced each other† (pp. 99). Hence, globalisation can also termed as a change driver in today’s context. For instance, globalisation have often been observed to influences changes within organisations, economies, as well as social environment of various cultures facilitating technological changes through resource mobilisation rendering gre ater chances for innovation and development. Another vital dimension of globalisation, which has often been identified in its conceptual framework, is its role to augment better communication within the various participants. Contextually, the major communicators or drivers of globalisation have