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Genius

In: Computers and Technology

Submitted By eshasaravanan
Words 2544
Pages 11
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Advantages of Globalization

❖ Employment
Considered as one of the most crucial advantages, globalization has led to the generation of numerous employment opportunities. Companies are moving towards the developing countries to acquire labor force. This obviously caters to employment and income generation to the people in the host country. Also, the migration of people, which has become easier has led to better jobs opportunities.

❖ Education
A very critical advantage that has aided the population is the spread of education. With numerous educational institutions around the globe, one can move out from the home country for better opportunities elsewhere. Thus, integrating with different cultures, meeting and learning from various people through the medium of education is all due to globalization. Developing countries or labor-intensive countries have benefited the most.

❖ Product Quality
The onset of international trade has given rise to intense competition in the markets. No longer does one find limited number of commodities available. A particular commodity may fetch hundreds of options with different prices. The product quality has been enhanced so as to retain the customers. Today the customers may compromise with the price range but not with the quality of the product. Low or poor quality can adversely affect consumer satisfaction.

❖ Cheaper Prices
Globalization has brought in fierce competition in the markets. Since there are varied products to select from, the producer can sustain only when the product is competitively priced. There is every possibility that a customer may switch over to another producer if the product is priced exorbitantly. 'Customer is the King', and hence can dictate the terms to a very large extent. Therefore, affordable pricing has benefited the consumer in a great way.

❖ Free Movement of Capital
Capital, the...

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