GLOBALIZATION

1. FINANCIAL

1.1. Globalization promotes technological advancements and other kinds of innovation that allows financial performance to be efficient.

1.2. Interconnected markets due to the glocalization of products.

2. POLITICAL

2.1. Countries that are working together to move their borders to allow the movement of money and people needed to keep economic globalization moving.

2.2. Modifying barriers among and between nations to create a more fully integrated global economy through trade agreements.

3. GEOGRAPHICAL

3.1. Advancements in shaping the very soil people live in to allow the cultural, physical, political and religious characteristics to be more efficient, productive and uniquely magnificent as a way of giving diversity to the world.

3.2. Highlights the increase of interconnection among nations that integrate global collaboration and global solutions to problems.

4. ECONOMICAL

4.1. Investments from foreign institutions and investors could help boost the country’s GDP; Business franchises that are well known from other countries could provide thousands of jobs in the country.

4.2. Economies of scale could help businesses reduce production costs; Exchange of goods and services.

5. SOCIAL/CULTURAL

5.1. Expanding interconnectedness between societies all over the world which then promotes cultural relativism in religion, values, and education.

5.2. Growth of online social networks let people share ideas, opinions, and information that can impact other people’s judgement and knowledge

6. SOCIOLOGICAL

6.1. Develops all members of a single world society rather than distinct national and cultural societies.

6.2. The practice of common attitudes, standards of behaviour, and moral/ethical values from people all over the world.

7. TECHNOLOGICAL

7.1. Information and Communication Technologies have progressed and advanced due to the world wide web and social media platforms.

7.2. The Technological Revolution highly contributed to the expansion of communication and globalisation among people.

8. ECOLOGICAL

8.1. Internationally enforcing regulations in environmental, animal protection and preservation which can be done by passing on agreements and spreading awareness with assistance of non-governmental and governmental organization.

8.2. Preserving the Earth’s natural and hidden “Gold” for future generations whether for tourism, historizing.