The World Is Flat Globalization Of Economy Essay

The World Is Flat: Globalization of Economy The world is flat again, but it has nothing to do with the whether or not the Earth is spherically shaped. This analysis has to do with the globalized 21st century world we live in and how we navigate the business world which now includes access to information, culture, politics and economy from all the nations of the world. It’s a notion that is both exciting and scary if you think about it, as author Thomas L. Friedman writes in his book The World Is Flat. Friedman is an expert on the nuances of globalization and is noted for his writings for The New York Times, winning the Pulitzer Prize three times as their foreign affairs columnist. In 2005 The World Is Flat was given the first Financial Times and Goldman Sachs Business Book of the Year Award. In his book he writes about how we got to this point of globalization, and further explains the importance of a number of important factors that facilitate business globalization. He calls these factors â€Å"Flatteners,† which include work flow software, outsourcing, offshoring, supply chaining and the effects of globalization for developing countries and those already showing up in great force on the global economic playing field. The reader sees that there are ten forces discussed that play a role in the flattened world. One of top importance he mentions is Flattener #5 –Outsourcing, which a tactic used by large American corporations to slim down costs by outsourcing parts of itsShow MoreRelatedThomas Friedm The World Is Flat1021 Words   |  5 PagesThomas Friedman – The World is Flat Introduction â€Å"Tom, the playing field is being levelled, and you Americans are not ready for it† These words by Nandan Nilekani, the former CEO of Infosys proved to be the basis of the book â€Å"The World is Flat† by Thomas Friedman. The video starts with Thomas Friedman, a veteran award winning American journalist, speaking of his visit to Bangalore in India to work on a documentary based on outsourcing, and how his meeting with the then CEO of Infosys influenced himRead MoreThe Effects of Globalization on US Society and Economy Essay1359 Words   |  6 Pages The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come togetherRead MoreCase Study: Vizio1305 Words   |  6 Pagescompany and market for flat-panel TVs. However, most importantly Vizio’s unique use of globalization of production which gave them a competitive advantage in the market just as it was peaking. I found it important to do some research on the Vizio company to get a solid understanding of their background and history. The unique blend of origin, ethnicity and country of residence through much of his youth may have played a strong role in CEO, William Wang’s success with globalization. What started as aRead MoreGlobalization Has Changed After Listening1421 Words   |  6 Pagesview on globalization has changed after listening to Professor Ghemawat. Professor Pankaj Ghemawat has gone through the entire process of globalization and set up a new idea for the interpretation of the globalization process as well. According to the newer idea and concept of Professor Ghemawat, it is not necessary at all to think over the fences of the countries’ border for the consideration of globalization. He has also opposed the flat world’s concept of Friedman and has stated that world is neitherRead MoreThe World Is Flat- the Globalization World in the Twenty First Century- Book Review1672 Words   |  7 PagesAssignment Title: Individual Assignment – Book Review Book title: The World Is Flat- the Globalization World in the Twenty First Century Author: Thomas L. Friedman Introduction ‘The World Is Flat- the Globalization World in the Twenty First Century’ is a well written book by Thomas L. Friedman based on his personal experience, case studies, and etc. He explores the political and technological changes that have made the world a smaller place. From the explosion of the internet to the dot com bubbleRead MoreCapitalism And The Industrial Revolution778 Words   |  4 PagesAccording to Thomas L. Friedman, author of The World is Flat, the concept of globalization happened in three eras. The first era occurred 1492 until 1800 with the age of exploration and discovery. Globalization 2.0 followed, lasting 1800-2000. It was characterized by the Industrial Revolution. The third era of globalization began in the year 2000, and occurs to this day (Friedman, year, p.8). But the real question is, what sparked the rise of globalization? The term is modern, but the concept is notRead MoreWhat Are the Arguments for and Against the Idea That the World Has Become Flat in Recent Years?892 Words   |  4 PagesThe world is ever changing and has been that way even before humans dominated Earth. However, what we are interested in for this topic is in the last few decades where globalization has had an impact in the early 21st century, making the world â€Å"flat†. The phrase that the world has become flat is a metaphor for viewing the world level in terms of commerce and competition, meaning a level playing field where everyone has an equal opportunity. However, opinions are divided on how much globalization hasRead MoreDomestic And Foreign Economic Policy1646 Words   |  7 PagesThe way states interact with each other effects not only their domestic economy but the global economy. What is the best method for states to approach the global market; should states accept the capitalist free market or utilize different models that are out there? Purpose Statement: The way that states approach the global market is very different from each other. Most of the biggest and successful economies in the world utilize similar economic models when addressing the global market. TheirRead MoreEnglish Essay 31410 Words   |  6 Pagesï » ¿Engl 5A Globalization Over the past decades, Globalization had made the world a much smaller place. In the passage While I was Sleeping by Thomas L Freidman and The Rise of the Rest by Fareed Zakaria, there is a connection between the two passage. Thomas L. Freidman use the metaphor the world is flat which mean there are many competition in the world now. Fareed Zakaria address the U.S power is diminishing because the rest of the world is catching up. Along with the diminishing power, AmericaRead MoreThe Effects Of Free Secondary Education On The Middle Class1361 Words   |  6 PagesFree Secondary Education What parents do not want their kids to have it better than they did? They way to the middle class is even harder to obtain today. The old way to the middle class was a high school degree and a factory job. In the new flat world with outsourcing these jobs are no more. The new way to the middle class is a secondary education, and that costs lots of money. Even though free community college would cost US taxpayers 65 billion dollars in 10 years, it would make college education