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Discussion 1: Financial Effects of Globalization THIS IS THE ASSIGNMENT IN TWO COMPLETELY SEPARATE PARAGRAPHS EACH PARAGRAPH SHOULD HAVE ITS OWN IN-TEXT CITATION AND REFERENCE. AT LEAST ONE REFERENCE PER POST RESPONSEDON’T WANT AN INTRO OR CONCLUSION Respond to the two postings below in one or more of the following ways: Respond to at least two of your colleagues’ postings in one or more of the following ways: • Ask a probing question. • Offer a different financial benefit or limitation. • Expand on your colleague’s posting using the Learning Resources and/or personal experiences. POST 1 Amonica Gibson: Discussion 1 – Week 11 Discussion 1: Financial Effects of Globalization A global partnership is the complex and uneven dynamic link between countries through the merging and interaction of organizations to achieve a common goal. There is a need for a global partnership to attain sustainable development and better the financial sector globally. Global partnership involves cost as well as benefits. Companies benefit from the division of global business risks as they share development and research costs, providing good value for money (Abdel-Malek et al., 2016). Through the generation of the economics of scale, the organization can mobilize a broadband of resources and attain international success. Developing countries have benefited by obtaining foreign investment and technology, which has boosted their economy (Hopper et al, 2017). The creation of the global market has enabled the United States (US) through the creation of the World Trade Organization (WHO) to facilitate fair trade among countries. This has profited countries in Eastern Europe. The cost of global partnership has also affected countries globally. Daily fluctuation of the dollar has translated to the imbalanced economy thereby affecting the national currency of most government organizations. This is because most international trade uses the dollar to trade. Price fluctuation is another cost of global partnership as companies who have partnered globally find a competitive advantage hence making high-quality products at a cheaper cost (Hueng et al, 2017). Job insecurity is also on the rise especially in the US as most companies have expanded to Mexico for cheap labor. Those remaining in the US have used the threat as leverage against union organizing drives (Vogt et al, 2015). Without union support, workers have little bargaining power with suppressed wage growth which has affected the department of labor in the US. References Abdel-Malek, T. (2015). The global partnership for effective development cooperation: Origins, actions and future prospects (No. 88). Studies. Hopper, T., Lassou, P., & Soobaroyen, T. (2017). Globalization, accounting and developing countries. Critical Perspectives on Accounting, 43, 125-148. Vogt, J. S. (2015). The evolution of labor rights and trade—A transatlantic comparison and lessons for the transatlantic trade and investment partnership. Journal of International Economic Law, 18(4), 827-860. Huang, Y., & Quibria, M. G. (2015, August). The global partnership for sustainable development. In Natural Resources Forum (Vol. 39, No. 3-4, pp. 157-174). Bottom of Form POST 2 Morgan Barnes It can be argued that globalization is one of the most important changes in human history, specifically in regard to social relationships and social structures (Ritzer, 2015). Globalization and global partnerships are considered to be concepts that enhance society through the use of multiple firms acting as a team to achieve one common goal. In many ways global partnerships are designed to increase integration, which allows things to flow with greater ease. However, it has also been determined that globalization is able to decrease integration by blocking the flow of goods or services (Ritzer, 2015). By allowing for an increased level of interdependency and an increased level of interaction between world markets, globalization has allowed for people, companies, and organizations to join together and become a single global community. Globalization and global partnerships have a variety of financial benefits such as: access to cheaper labor, access to new ideas and opportunities that will allow organizations to be able to profit more, and access to more important exports markets, human capital, capital flows, and technology –all of which will allow a financial profit. While global partnerships have been proven to provide various financial and economic benefits, there are also a variety of limitations that global partnerships can have on the economy. According to the Yale Center for the Study of Globalization (2013), the advancement of globalization suggests that there is more involvement between varieties of geographically different cultures, which means that there is also an increased level of financial distrust and risk. Another limitation of globalization is the decline of jobs in all forms of manufacturing in the United States due to companies outsourcing for lower costs (St. John, 2013). Globalization has positively impacted government organizations by providing an opportunity for economic growth by allowing economic objectives to be met. It can also provide opportunities for organizations to be able to conduct business like larger markets. References Financial Benefits and Limitations of Global Partnerships. (2017). Retrieved from https://uniquewritersbay.com/blog/financial-benefits-limitations-global-partnerships/ Ritzer, G. (2015). Globalization: A basic text (2nd ed.). Malden, Massachusetts: John Wiley & Sons, Inc. Retrieved from the Walden University Library Database. St. John, E. P. (2013). Social justice & globalization. Harvard International Review, 35(1), 45-49. Retrieved from the Walden University Library Database. THIS IS THE ORIGINAL ASSIGNMENT THEY ARE RESPONDING TO. THIS IS JUST BACKGROUND INFORMATION. THE ACTUAL ASSIGNMENT IS ABOVE (REPONDING TO THE 2 POSTS) Discussion 1: Financial Effects of Globalization In recent decades, the emergence of global economic, political, environmental, and cultural interconnections has greatly impacted people, companies, and nations regionally and in different parts of the world. Consider, for instance, the following mission statement: “Partnerships International, Inc. periodically brings together industry and government in a collegial and informative setting in order to enhance the U.S.’s abilities and presence throughout the global marketplace, and to promote our continuous growth and development in that competitive, demanding and dynamic environment” (Partnerships International, Inc., 2014). There are financial implications associated with the emergence of global partnerships and globalization in general. In this Discussion, you consider some of these. With these thoughts in mind: Post by Day 3 an explanation of the financial benefits and limitations of global partnerships. Provide specific evidence of one positive or one negative impact of globalization on the government organization. Be sure to support your posting and responses with specific references to the Learning Resources.
