Globalization

We have come a long way from Claude Chappe’s invention of the telegraph in 1974. Media platforms have evolved and the Internet has revolutionized the once un-networked globe. This cyber-infected, existence has saturated everyday life and impacted the working world in inconceivable ways.

The most noteworthy implication of digital media is globalization, as digital platforms have become an immensely powerful tool for connecting people with a common interest and surpassing the traditional hurdles of geographical location, time and other barriers. Globalization can be most simply understood as the breaking down of  national economic barriers, the international spread of trade, finance and manufacturing activities, and the growing power of international financial institutions,” (McAuley, 2004).

Levitt invented the term “globalization” in 1983. He states…

 “The global corporation operates… as if the entire world (or major regions of it) were a single entity; it sellls the same things in the same way everywhere… Different cultural preferences, national tastes and standards… are vestiges of the past… with persistence and appropriate means barriers against superior technologies and economies have fallen away” (Levitt, 1983).

The Internet has created a “world village” sense of proximity by linking its inhabitants through cyber-space and creating a “’knowledge-based society,’ [becoming] the world’s culture and primary tool of communications” (Radwan, 2011, p 1).

As a result, there are numerous new demands, fresh production forms and altered labor requirements which have evolved in order to support the growth of the information economy. The shift from manufacturing to knowledge demands has had a dramatic implication on the sphere of industry, “these changes are part of a fiercely competitive international environment, marked by an internationalized division of labor” (Bradwell & Reeves 2008:26).

In terms of business, an increasing amount of markets are expanding to international organisations as the cost and complexity of operating overseas is reduced by globalization. Organisations have access to less expensive resources and labor in developing countries. This results in the company having freedom to lower their prices and become more competitive (McAuley, 2004).

Additionally, communications technologies are flourishing thus allowing for international marketing campaigns to be coordinated all from a domestic base. Transport and distribution systems are more effective than ever before, making it easier, faster and cheaper for business to get their products to consumers. While the internet also is revolutionizing the way people shop as price transparency increases and competitors are only a mouse click away.

While globalization has revolutionized the profession of marketing, I feel I am well equipped and knowledgeable in this area as my degree has been centered around the digital sphere. From taking an additional major in digital communications, and enrolling in subjects like Internet marketing, the skills I learn about creating and organizing online content to exploit the mediums novel benefits will assist me, once I am placed into the corporate sphere.

Bradwell, P., and Reeves, R. (2008) Economies. In Networked Citizens (pp. 25-31). London: Demos.

 [URL: http://www.demos.co.uk/files/Network%20citizens%20-%20web.pdf]

Levitt, T 1983, “The Globalization of Markets,” Harvard Business Review, Vol 64, Issue 3 pp 92-102

McAuley, A 2004, “Seeking (Marketing) Virtue in Globalisation,” The Marketing Review, Vol 4 pp 253-266

Radwan, A 2011, 'Egypt's Facebook Revolution', American Diplomacy, pp. 1-3, Political Science Complete, EBSCOhost, viewed 22 September 2011.