Business English: globalization hopes and concerns

Globalization: Hopes and Concerns

Globalization is spreading with such speed that in some cases businesses are struggling to keep up while others are tactfully taking initiative to hoard as much market share as they can. With regards to globalization, there are two main concerns frequently pupping up in global summits and conferences: technology and environment.

Technology: Hopes and Concerns

Many businesses had been doing just fine so far, going about their business the way they have been for a long time. Some even took pride in their traditional generational approaches. While globalization has meant more profit thorough expansion into new markets for some, others have been dumbfounded and helpless. There are businesses that were never interested in the global market in the first place. They were content with the little market share of their surrounding community. But now they have to consider changing their business strategies. They need to learn more about how things are done these days.

How has technology affected our businesses?

    Technology has allowed for new jobs to emerge; Jobs that are more intellectual rather than physical. Therefore, a person living in literally other side of the world can enter your job market and take a spot without ever setting foot into your country borders.

    It has also provided the platform (the Internet) for intellectuals to offer their talents and expertise in markets other than their city or country. Therefore, the unemployment rate may not be easily determined based on your community’s employment rate versus the unemployed. The job market topped up to a global one and now competitive advantages play far more crucial roles than ever.

    Smart machinery never get tired, seldom make mistakes, don’t demand raises, and are capable of making calculated decisions to reach the best possible results. They can simply perform difficult physical tasks and intellectual ones with far less mistakes than humans. They don’t need insurance or transportation, they don’t arrive late at work, their life is not in danger and therefore pose almost no risk of lawsuits for bad work conditions; Their productivity rate is a constant throughout the day, week, and year. This allows them the clear advantage of replacing people in jobs that require physical strength and precision. They considerably minimize production costs as well as the risk of mistakes fatal to people and organizations and that means more profit.

    Technology provides access to loads of data, speeds up data analysis and considerably prevents losses and mistakes in businesses. Not long ago, people had to take considerably long to analyze the little information they had at their disposal or go through cases of trial and error to see if their decision could lead to a profit and then start over.

What can we do?

Considering the information given above, the labor market is undergoing a fundamental transformation. It has changed in what it needs people for as well as what qualifies them as suitable for the job. On the one hand, we have jobs that had never been on the list and jobs that are simply removed. On the other hand, what we once considered as skills are becoming obsolete, and new sets of skills are replacing them. Trying to become better at what people used to do will not guarantee a spot in the labor market tomorrow.

Since technology has been constantly improving, it may have never seemed to affect so many aspects of human life so drastically. But now that we are able to see the changes more clearly, it is time to observe and understand these changes, so you can decide where you want to be. The next step will be to make plans and develop skills that guarantee your spot for the position you desire. Change is simply a must at this phase.

Technology provides as much opportunity as threats it makes to our lives. Yet environmental changes are the result of our actions. They requires our serious devotion to its betterment for the sake of our survival.

Environmental Changes: A Call for Action

Alarming signs have surfaced with regards to how businesses and industries have been affecting the environment. These damages are serious to the point that they might not only harm businesses, but endanger life on earth. World Economic Forum (WEF) is dedicated to raising awareness regarding environmental issues. They are frequently calling for action to prevent irreversible damages occurring around the world.

To do this, not only governments, but businesses must also take action. Addressing this global issue requires assessing businesses and their environmental effects. Business should review their processes to decrease threat to the environment. At the same time, new business can be developed to improve environmental conditions.

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