The Role of Information Technology in Promoting Globalization

Basu, K. (2016). Globalization of labor markets and the growth prospects of nations.

The article Globalization of Labor Markets and the Growth Prospects of Nations by Kaushik Basu provides a detailed view of the different experiences that have promoted the concept of globalization in various nations. The author provides a detailed explanation on some of the experiences that promoted the internalization process including the subprime crisis in the U.S, the debt crisis in Europe and the constant fluctuation of basic commodities such as crude oil.

The author further notes that with these continued trends the use of technology has presented alternatives for achieving increased production in different sectors. Moreover, through digitalization and innovation, businesses have created modern ways of reducing labor and increasing productivity. The growth in production in industrial robots as depicted by the Baku depict the increased need by firms to reduce the overall cost of production. Moreover, the introduction of these types of machinery by several companies also has numerous advantages such as increased profitability and boosting its residential country gross domestic product (GDP).

This article helps in understanding the role of technology in promoting technology and how different businesses in the U.S have benefited from it. As such, it will help in explaining the going forward section of the research as it will aid in explaining some of the emerging trends and mechanisms adopted by forms to cope with the increasing level of competition in the global market.

Stiglitz, J. E. (2017). The overselling of globalization. Business Economics, 52(3), 129-137

The article the Overselling of Globalization by Joseph Stiglitz explains how the concept of internationalization has been overrated by different experts and the adverse effects it has on the modern business. The author argues that the estimated GDP, cost and distribution effects were understated and this has led to the failure of various sectors around the world. The paper is divided into different sections that elaborate some of the effects of globalization on different areas of business including employment opportunities, the number of risks, increased competition and failure of protectionism. The author further notes that the formation of regional organizations was expected to boost the concept of trading and to increase international interaction between countries. However, the current economy proves the failure of these agreements that have not only promoted unfairness in growth but also led to the formulation of various restrictive policies including fiscal, trading and monetary regulations.

Notably, this article will help in explaining the effects of globalization on U.S businesses. Similarly, it will explain the projected risks of over-dependence on internalization as the main source of a country’s income. Essentially, the paper will be applied in explaining two sections of the research including effects of globalization on businesses in the United States and the going forward section.

Ghemawat, P. (2017). Globalization in the age of Trump. Harvard Business Review, 95(4), 114-23.

Ghemawat presents some of the strategies set by the current U.S administration to help businesses located in the country to cope with effects of globalization. The author notes that some of the recent worldwide events such as the emergence of China as one of the international trade strongholds and Brexit have changed the face of internationalization. The change in United States federal administration after the inauguration of President Donald Trump led to the increase of uncertainty in global business and many multinational institutions and most of them have established strategies that would help them reduce the effects brought about by the change.

The article further explains some of the factors that specked the future of globalization that include the 2008-2009 financial crisis. Although this event affected many businesses in the United States, many have been able to develop alternative approaches to internationalization. The author also notes that the 2016 data suggests that many enterprises in the U.S have increasingly benefited from the increase of world trade after the crisis. He also presents different types of data that explain the extent of globalization in the nation in comparison to other states such as U.K and China.

Since the article is specific to the United States economy, it would be used to explain the effect of globalization on U.S based businesses. As such it would be fit both the introduction and literature review sections of the research by presenting both the past and future effects of internationalization on the country’s economy.

Chakravorti, B., Tunnard, C., & Chaturvedi, R. S. (2015). Where the digital economy is moving the fastest. Harvard Business Review, 19.

The article concentrates on the spread of digitalization in different economies in the world and the effect it has on businesses. Several nations including India and China have been promoting digital evolution by facilitating societal changes that have impacts on their growth prospects. Notably, the connectivity and implementation of e-commerce occurred in different phases including denial, global and mobile networking. Many businesses have this over the years adopted the use of online platforms to enable them to reach new markets. However, some of the western countries including the United States have been hesitant in promoting these new business methods and have been overshadowed by countries such as China, Brazil, and India in international trade. According to the author, to achieve increased growth, the westerners must use four levers comprising of immigration, integration, innovation, and investment.

Considerably, this article will help in explaining some of the challenges facing business in the U.S in their globalization quest. It will, therefore, be used in providing relevant information to the literature review, impact to business and management option sections of the research.

References

Basu, K. (2016). Globalization of labor markets and the growth prospects of nations.

Chakravorti, B., Tunnard, C., & Chaturvedi, R. S. (2015). Where the digital economy is moving the fastest. Harvard Business Review, 19.

Ghemawat, P. (2017). Globalization in the age of Trump. Harvard Business Review, 95(4), 114-23.

Stiglitz, J. E. (2017). The overselling of globalization. Business Economics, 52(3), 129-137