Proponents of globalization argue that it is economically stimulating, encouraging not only the free play of market forces but entrepreneurship and innovation as well. Alternatively, detractors state that globalization has worsened conditions for many workers around the world and exacerbated pre-existing social and political inequalities in certain regions.Continue Reading
Among the economic pluses of globalization, it tends to make markets more competitive, thus making companies more sensitive to the needs of consumers. Through infusions of foreign capital into developing nations, globalization also creates jobs and technological improvements in what were previously struggling economies. Similarly, increased exposure to other nations provides for cultural intermingling, a process that ostensibly produces enhanced awareness and appreciation of global diversity. Furthermore, with companies all over the world sharing financial interests, they are more likely to come together on ecological problems that collectively face humanity.
Among its downsides, globalization demands cost-efficient labor, a fact that spurs some organizations to capitalize on labor pools unprotected by fair work and pay standards. This includes pay conditions approximating slavery, unsafe work conditions and even phenomena such as child labor. Additionally, detractors claim that globalization has worsened the divide between rich and poor people, prosperous and disadvantaged countries. For example, one U.N. Development report suggests that by 1998, 20 percent of the world's population (the most affluent portion) consumed nearly 86 percent of the world's resources, whereas the less affluent 80 percent was left with the remaining 14 percent of resources. Finally, some experts believe that globalization has raised the epidemic capacity of diseases such as HIV/AIDS through spreading it to even remoter areas.Learn more about Industries
As of 2015, some challenges that mining companies face are innovation, decreasing the cost of power projects, and finding new skill sets and new talent. Another challenge for mining companies is keeping junior companies afloat.Full Answer >
According to CreatingMinds, value analysis is used to analyze and understand the detail of specific situations and find a focus on key areas for innovation. Value engineering is a process used to identify specific solutions to detailed problems.Full Answer >
Globalization is generally regarded as a good thing because it creates open market opportunities and fosters efficiency between suppliers, partners and customers through a network of distribution; for example, a company can sell electronics in the United States or Japan with equal ease. This type of efficiency allows for the ease of integration between markets for optimal management of inventory and distribution while boosting aggregate demand and helping to grow the employment potential and income of the world economy.Full Answer >
American energy companies include Exxon Mobil and General Electric, which are the country's largest and secondary largest publicly traded energy companies respectively based on market capitalization. Exxon's business is primarily oil-related, while General Electric operates in sectors ranging from appliances and lighting to aviation, water and power.Full Answer >