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King David in the Bible and Michelangelo who made the statue of himThis essay provides information about the david statues, Globalization, Liberalisation and Privatisation in India! The term globalization can be used in different contexts. The general usages of the term Globalization can be as follows: i. Interactions and interdependence among countries. ii. Integration of world economy. Image Courtesy : upload.wikimedia.org/wikipedia/en/thumb/f/f8/PUNE.jpg. By synthesising all the above views Globalization can be broadly defined as follows: It refers to a process whereby there are social, cultural, technological exchanges across the border. The term Globalization was first coined in 1980s. But even before this there were interactions among nations. But in the modern days Globalization has touched all spheres of life such as economy, education. Technology, cultural phenomenon, social aspects etc. The term “global village” is what main reason behind colonization of africa in the 1800s?, also frequently used to david statues, highlight the significance of globalization. This term signifies that revolution in what in the electronic communication would unite the world. Undoubtedly, it can be accepted that globalization is not only the present trend but also future world order. Globalization has its impact on king statues India which is a developing country. The impact of globalization can be analysed as follows: Globalization has drastically, improved the access to technology. Internet facility has enabled India to gain access to knowledge and services from around the world. Use of Mobile telephone has revolution used communication with other countries. Tariff barriers have been removed which has resulted in the growth of trade among nations. Global trade has been facilitated by GATT, WTO etc. Globalization has resulted in increase in the production of a variety of goods. MNCs have established manufacturing plants all over the world. Establishment of MNCs have resulted in the increase of employment opportunities. Globalization has encouraged free flow of capital which has improved the economy of developing countries to IOS Vulnerabilities Essay, some extent. David Statues? It has increased the capital formation. Globalization is not free from negative effects. They can be summed up as follows: Globalisation has increased inequalities among the countries. Some of the policies of Globalization (liberalisation, WTO policies etc.) are more beneficial to developed countries. The countries which have adopted the free trade agenda have become highly successful. E.g.: China is a classic example of success of globalization. But a country like India is not able to overcome the importance, problem. As a consequence of globalization there is free flow of foreign capital poured into developing countries. But the economy is subject to constant fluctuations. King David Statues? On account of variations in the flow of foreign capital. Globalization has opened up employment opportunities. But there is no job security for employees. The nature of work has created new pressures on workers. Workers are not permitted to organise trade unions. Indian farmers are facing a lot of threat from global markets. Definition? They are facing a serious competition from powerful agricultural industries quite often cheaply produced agro products in developed countries are being dumped into India. Globalization has led to 50% rise in the volume of world trade. Mass movement of david statues, goods across the world has resulted in gas emission. Some of the of the revolution, projects financed by World Bank are potentially devastating to ecological balance. E.g.: Extensive import or export of meat. MNCs are the king david, driving force behind globalization. They are in a position to dictate powers. Multinational companies are emerging as growing corporate power. They are exploiting the cheap labour and natural resources of the host countries. 7. Threat to national sovereignty: Globalizations results in shift of economic power from independent countries to rap music definition, international organisations, like WTO United Nations etc. The sovereignty of the elected governments are naturally undermined, as the policies are formulated in favour of globalization. David Statues? Thus globalization has its own positive and negative consequences. What Main Colonization 1800s?? According to Peter F Drucker Globalization for better or worse has changed the way the world does business. It is unstoppable. Thus Globalization is inevitable, but India should acquire global competitiveness in all fields. It is an immediate effect of king david, globalization. Liberalisation is commonly known as free trade. Of The? It implies removal of restrictions and barriers to free trade. India has taken many efforts for liberalisation which are as follows: New economic policy 1991. Objectives of the new economic policy. i. To achieve higher economic growth rate. ii. To reduce inflation. iii. To rebuild foreign exchange reserves. Foreign exchange Regulation Act 1973 was repealed and Foreign exchange Management Act was passed. The enactment has incorporated clauses which have facilitated easy entry of MNCs. i. Joint ventures with foreign companies. E.g.: TVS Suzuki. ii. King Statues? Reduction of import tariffs. iii. Removal of export subsidies. iv. Full convertibility of Rupee on current account. v. Encouraging foreign direct investments. The effect of liberalisation is that the companies of rap music, developing countries are facing a tough competition from powerful corporations of developed countries. The local communities are exploited by king, multinational companies on account of removal of regulations governing the activities of MNCs. In the event of globalization privatisation has become an order of the day. Privatisation can be defined as the transfer of ownership and control of public sector units to private individuals or companies. It has become inevitable as a result of structural adjustment programmes imposed by IMF. To strengthen the private sectors. Government to concentrate on areas like education and infrastructure. In the was the reason european colonization of africa 1800s?, event of globalization the government felt that increasing inefficiency on the part of public sectors would not help in achieving global standards. Hence a decision was taken to privatise the Public Sectors. Causes of Inefficiency of Public Sectors: i. Bureaucratic administration. ii. Out dated Technology. iv. Lack of king, accountability. v. Domination of trade unions. vi. Political interference. vii. Lack of proper marketing activities. Privatisation has its own advantages and main behind in the 1800s? disadvantages Viz: ii. Absence of political interference. iii. David Statues? Quality service. iv. Systematic marketing. v. Use of modern Technology. vii. Creation of competitive environment. ix. Research and development. x. Optimum utilisation of resources. xi. Infra structure. However, privatisation suffers from the following defects. i. Exploitation of labour. ii. Abuse of powers by executives. iii. Unequal distribution of wealth and income. iv. Lack of of the, job security for employees. Privatisation has become inevitable in the present scenario. But some control should be exercised by the government over private sectors. Changes across Euro, Third World, USA and king david statues Their Impact on India: Significant changes have taken place across Euro and USA on account of globalization, particularly in the field of international business politics etc. Such changes have given rise to change in cultural and social aspects as well. The economy of kirchoff's first law, European countries and US are getting integrated with the global economy. Different arrangements have been made in this regard which are as follows: It is an agreement among a group of countries to abolish all trade restrictions and david statues barriers, in carrying out international trade. The member countries abolish all the restrictions and barriers and of the adopt a uniform commercial policy. 3. European Economic Community: It was initially formed by six countries viz: France, Federal Republic of Germany, Italy, Belgium, Netherlands and Luxembourg. David? It came into causes of the cuban revolution, existence on 1.1.1958. How EEC has 15 members. In order to become a member of EEC, a country must be European country and it must be democratic. Activities of king david statues, EEC: i. Rap Music? Elimination of custom duties and quantity restrictions on export and import of goods. ii. Statues? Devising a common agricultural policy. iii. Devising a common transport policy. iv. To control disequilibrium in balance of payments. v. Development of a common commercial policy. 4. North American Free Trade Agreement: i. It came into being in 1994 Developed countries like US, Canada and a developing country Mexico became the members. Objectives and Activities of appeasement ww2, NAFTA: i. Removing barriers among the member countries to facilitate free trade. ii. To enhance Industrial development. iii. To enhance competition. iv. To improve Political relationship among member countries. v. To develop industries in Mexico. the king, international market. It was formed in 1959. The member countries are: Austria, Norway, Denmark, Sweden and Switzerland and Great Britain. i. To eliminate trade barriers. ii. To remove tariffs. iii. To encourage free trade. iv. To enhance economic development of member countries. The concept of Third World does not have much significance in the present scenario. This term was popular prior to the disintegration of Soviet Union. Revolution? USA and king USSR were considered as super powers and IOS Vulnerabilities the countries in the world were divided in supporting them. The countries which did not have an alliance with both the david statues, countries were considered as Third World countries. But with the disintegration of USSR the first law, concept of Third World has almost disappeared. However changes in Asian countries and other countries (other than Europe and USA) have affected India. Such changes can be discussed as follows: South Asian Association for Regional Cooperation (SAARC) It came into being in 1983 countries like India, Bangladesh, Bhutan, Pakistan, Maldives and Sri Lanka adopted a declaration on SAARC. i. David Statues? To promote economic social and cultural development among member countries. ii. To improve the life of people among member countries. iii. To enhance cooperation with other developing economies. iv. To liberalise trade among member countries. v. To promote economic cooperation among member countries. China has introduced many economic reforms. It started privatisation in 1984. China has formed special economic Zones. It has attracted heavy foreign investments. It has also formed economic and Technical Development Zones in towns and cities. These zones are free zones which allow quick business operations. There is a rapid growth in Japan during the past Fifty years. Japanese maintained a close link with ministry of appeasement, international trade and investment. The Strategies of Japanese-corporate sector was directed by ministry of international trade. Changes across Euro, USA and Third World has its own impact on India which can be summarised as follows: i. India’s economic dependence on king statues other countries has significantly increased. ii. Rap Music? Extensive opportunities in the field of information technology. iii. Extensive opportunities for India’s Telecom sector. iv. Strategic alliances. Statues? Joint ventures, mergers have become the order of the define appeasement ww2, day. v. King? Extensive research and main reason behind european colonization in the development. vi. Bilateral treaties to promote free trade. vii. Membership of king david statues, WTO. viii. Amending the domestic laws to suit the liberalised economy. E.g.: FEMA. Amendment of Patent Act. ix. Active participation in global politics. x. Improvement in definition Productivity. On the whole it can be concluded that changes across Euro, USA and other countries have significantly changed the david statues, Indian economy. India has realised that its business can’t survive without focusing on define appeasement ww2 changes in other countries. Indian economy has become a major economy of the world and a significant trading partner. In the new era, India is looking at the potentials of the king david, new products. Globalization has led to the practice of management across culture. Modern business organisations have adopted Global management practices. Efforts are being made by India to first, understand Japanese, Chinese style of management. Issues in Motivation, communication across culture has gained significance. King David? Every functional area of management is being studied with a global perspective. E.g.: International HRM, International Financial management, International marketing etc. Leave a Reply Click here to cancel reply. You must be logged in to post a comment. Before publishing your articles on this site, please read the following pages:
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