I am for globalization. It is beneficial in many ways.  It allows countries to exchange goods and services. This allows countries to specialize in the production of goods at a lower opportunity cost.  This in turn will translate to lower prices for consumers, wide choice of goods, bigger export market and increased competition. In addition, with globalization, there is an increased labor migration which is beneficial to both workers and countries. If a country has high unemployment rates, workers have a chance to migrate and look for work elsewhere. For the country with labor shortages, it is able to fill the important posts. The migration of workers reduces geographical inequalities in that people are free to migrate to the less supplied places. All the geographical areas have equal access to labor from different places.

Another effect of globalization is an increase in the economies of scale. Globalization enables the production of goods at different places this lowers the average costs and in turn lowering the prices for the consumers. In addition, with globalization comes increased competition. Competition is very healthy to both the consumers and the economy. It eradicates domestic monopolies.  Countries are also able to attract long term and short term investments from multinational companies thus improving the domestic economies.

It is my recommendation for my company to go global. This is because the company will have a global reach thus an increase in customers. When the company operates in the domestic market only, its customers are limited to the domestic customers. However, when it goes global, the number of customers increases. In addition, through globalization, companies can be able to find economies with cheap costs. Companies can be able to but raw materials and components parts at reduced prices in these economies. Globalization will also give the company a chance to exploit the different expertise. Through globalization, the company has a larger pool of employees to source expertise from. Through globalization, the company will have a larger pool of cheaper employees.

Globalization has an effect in the market place. First, through globalization, there is increased supply and demand in the market place. Companies supply more in the global market and in the same time has a larger pool of customers. With increased supply and demand, the global economies are able to develop. In addition, there is free flow of goods and services in the market place. Free flow of goods and services increases competition which in turn leads to efficiency in the pricing of good s and services.

Through globalization, there is return on the invested capital. Globalization improves the efficiency in the markets thus improving production process. The production factors are efficiently utilized leading to good returns. In addition, through globalization, there is increased access to capital. Most companies depend on borrowed capital for operations. Through globalization, these companies have access to increased sources of capital. This in turn improves production and reduced process in the market place.

Since the beginning of the course, my opinion concerning globalization has changed. First, I had the feeling that consumers should promote their domestic companies by buying their products as opposed to imported goods. However, I leant that imported goods increase competition in the market leading to reduced prices. When countries restrict imports, it encourages the domestic companies to monopolize the market leading to inefficiencies in the market.

Contrary to what I thought, companies should consider going global. There is increased access to customers in the global market as opposed to the domestic market. In addition, some of the raw materials used by companies are cheaper in other areas other than the domestic market.

I would argue for globalization, its advantages out way its disadvantages. Though countries restrict global trade through restricting imports, it benefits the local companies and not the local customers.

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