UB GEO 103LEC - OLec2 Globalization (29 pages)

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OLec2 Globalization



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OLec2 Globalization

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Pages:
29
School:
University at Buffalo-SUNY
Course:
Geo 103lec - Global Econ Geographies
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GEO 103 Class 2 Globalization 1 Globalization 2 Globalization the key agent of change the dynamic force driving the process of global integration T Friedman The World is Flat Communication transportation information changing the integration of the human race Is the world losing its cultural differences Definition of Market buyers and sellers determined by price price is determined by supply and demand The goal of market is profit the difference between revenues and costs Importance of market leads to specialization of economic activity 3 Specialization of Economic Activity 4 Engineering Raw material Extraction Production Storage Office functions Marketing Management Finance Globalization video 5 Complex definition set of world processes that make the world economy and various societies of this economy more integrated and interdependent shrinks space by increasing access and reducing transport times distance It was born when the Wall fell in 1989 It s no surprise that the world s youngest economy the global economy is still finding its bearings Many world markets are only recently freed governed for the first time by the emotions of the people rather than the fists of the state The spread of free markets and democracy around the world is permitting more people everywhere to turn their aspirations into achievements And technology properly harnessed and liberally distributed has the power to erase not just geographical borders but also human ones the world holds great promise In the meantime no one ever said growing up was easy Wall Street Journal 10 11 98 Drivers of globalization 6 Search for markets www richs com Improved technologies transportation commu nication Decreased economic barriers increased trade investment Multinational corporations expansion Globalization continued Globalization of culture Culture body of beliefs customs traditions social forms material traits constituting a distinct social tradition of a group of people Globalization leading to increased cultural homogeneity Improved communications and transportation promote global consumer culture All people do not have equal access to globalization Distinctive local cultural traits threatened by global diffusion of consumer culture synonymous with Americanization International consumer products Blue jeans Nike Coca cola Pepsi Marlboro cigarettes McDonalds Lady Gaga Globalization continued Globalization of telecommunication Growth of global digital telecommunication Television cell phones Internet Development of ICT has accelerated pace of globalization Generation youtube http www youtube com watch v oDrw77bMALg Consumers use the internet to gather information Not ubiquitous Gaps in access to technology Eric Whitacre A virtual choir 2 000 voices strong 9 http www youtube com watch v 2NENlXs W4pM Globalization continued Globalization of the economy Transnational corporations Foreign direct investment from core regions Global specialization in location of production Tertiary sector International finance legal advanced producer services Services retail wholesale teaching government medicine law recreation Office functions Tourism textbook pg 13 11 Globalization of services and tourism US business service exports responsible for 1 3 of foreign 12 revenues Larger than auto exports e g legal counsel consulting accounting marketing computer services Tourism manifestation of globalization 12 of world GDP in 2009 Niagara falls Forbidden City Grand Bazaar Istanbul Consequences of globalization 13 Deregulation less government intervention gives rise to new areas of growth e g Asia Globalization of culture Facilitates the globalization of consumption Distance no longer matters Impact on trade protectionism All of the above dominance of western civilization over developing countries creating a homogenized landscape NYC Times Square Globalization and homogenization guess where Architectural skills marketed throughout the world homogenization of office buildings 14 Toronto TNCs global spaces Toronto NYC 15 Does globalization mean the death of distance and local places Globalization vs local diversity glocalization Geography s emphasis on local diversity Local diversity arising from Loyalties are subnational levels local regional national e g local identities http buffalofirst org Locality and place matter because most economic problems are still local e g decline of rustbelt Buffalo s economic growth unemployment arising from plant closures Many companies still serve local markets see HSBC s advertisement 16 L1 17 Going global McDonald s commercials 18 Japan http www youtube com watch v K88g62v9r0I Russia India http www youtube com watch v 0QVEcltAxQU http www youtube com watch v 21wsqNqqqsg Globalization versus Local Diversity Many current political social and economic problems form tension between those that promote globalization of culture and economy and those striving to preserve local traditions and economic self sufficiency Will coexist and shape each other glocalization In globalized world more people become aware that their well being is dependent upon events and trends elsewhere CARIBOU COFFEE 20 Rainforest alliance certified www cariboucoffee com page 1 about our coffee jsp A sustainable cup of tea http www rainforest alliance org multimedia china tea video 21 Facts about Coca Cola 6 mins of branding Coke Stop water at Coca Cola 22 http www indiaresource org Coke is sold in 200 countries 1 7 billion Coca Cola products are sold each DAY and makes over 3500 different beverages It has 48 of market share while Pepsi has 31 2009 The red and white COKE logo is estimated to be recognized by 94 of the world s population http www businessinsider com facts about coca cola 20116 op 1 Walmart in trouble Starbucks at a glance 23 Starbucks anywhere in the world it s always the same Starbucks Creates Red Bean Coffee for Chinese https www youtube com watch v iQr8Tz61nOE 500 Stores Starbucks Newsroom Starb ucks Celebrates Its 500th Store Opening in Mainl and China 24 25 L1 L1 26 Global or Local 27 Hard Rock Caf in Bali Management believes in creating a fun environment to market the resort s rock roll and relax mission HRBC spent US 300 000 in opening campaign to push Hard Rock as a hotel with an attitude a unique product based on an American experience Rock and roll is a universal culture The rooms are not going to have any Balinese touches they ll be more like Miami or Vegas style rooms Hard Rock Beach Club is going to be the pioneer


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