Photosynthesis

• Global governance or world governance is a movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region
• Global Interstate System


  The whole system of human interactions
• The modern world-system is structured politically as an interstate system of competing and allying states
• Why countries need to be in a good economic relationship with each other is evident due to interdependence
• Institutions of Global Governance

  • United Nations
  • World Bank
  • International Criminal Court of Justice
  • World Trade Organization
  • NAFTA
  • International Monetary Fund
  • World Health Organization
  • NATO
• These Institutions of global governance tend to have limited or restricted power to enforce compliance
• Interstate system


  • The most important feature is that it is anarchic
  • Relations between states take place in a Hobbesian state of nature
  • States' main goal is security
• Foreign direct investment (FDI)


  A purchase of an interest in a company by a company or an investor located outside its borders
• Types of Foreign Direct Investment

  • Horizontal
  • Vertical
  • Conglomerate
• China's economy has been fueled by an influx of FDI targeting the nation's high-tech manufacturing and services
• Relaxed FDI regulations in India now allow 100% foreign direct investment in single-brand retail without government approval
• Foreign portfolio investment (FPI)


  The addition of international assets to a company's portfolio, an institutional investor such as a pension fund, or an individual investor
• Foreign direct investment (FDI)


  Requires a substantial investment in a company based in another country
• FDI involves a greater responsibility to meet the country's regulations that host the company receiving the investment
• Technological Innovation


  The process where an organization (or a group of people working outside a structured organization) embarks on a journey where the importance of technology as a source of Innovation has been identified as a critical success factor for increased market competitiveness
• Technology


  Applying scientific knowledge for practical purposes or the branch of knowledge concerned with applied sciences
• Innovation


  Evolutionary and is a response to an unsolved problem and unexploited opportunity. It is the effort to create purposeful, focused change in an enterprise's economic or social potential
• Creativity


  The use of imagination or original ideas to create something. It is the idea phase
• Invention


  Based on a new idea that is turned into some conceptual model that demonstrates the feasibility
• Changes due to Technological Innovation

  • Transportation has become faster
  • Communication has become fast, instantaneous, more deliberate, collaborative, and unified
  • Education has created new ways to teach and to learn
  • Job Creations
• The Internet has increased the speed of communications manifold and reduced the costs drastically
• Communication has changed over the years from speech to the postal services, to telephones, cellphones, computers, and email, which makes the way we humans communicate extremely easy and fast
• Life has been made pretty much easy because of these inventions
• Technological changes in the educational industry

  • They have created new ways to teach and to learn
  • They allow teachers to access information on a global scale via the Internet to enhance their lessons
  • They allow students to use the vast resources of the Internet to enrich their learning experience
  • They positively affect student engagement, enabling students to retain and learn more information
  • Many students are more stimulated and eager to know when interacting with the hands-on learning tools that educational technology provides
• New job positions created by technology

  • Computing specialists
  • Social media managers
  • Digital marketers
  • Energy engineers
  • Software and app developers
  • Drone operators
  • YouTube content creators
• Significant medical innovations of the past 20 years

  • Vaccines and Immunization to prevent outbreaks
  • Electronic Health Records (EHRs)
  • HIV Combined Drug Therapy
  • Minimally Invasive Surgery
  • Needle-Free Injection Technology
• Incremental Innovation


  Small but important improvements in a product, process or service, associated with enhanced customer satisfaction
• Incremental Innovation


  • Intel Pentium III to Pentium IV
  • LAN to WAN
• Modular Innovation


  Changes in component technology without altering the overall product structure
• Modular Innovation


  • Change in car engine technology
• Architectural Innovation


  Integrating existing technologies in novel ways, without new technological breakthroughs, but with changes in product structure
• Architectural Innovation


  • Change of shape of a car with no change in engine
  • Honda's smaller motorcycles
• Radical Innovation


  Revolutionary innovations that change the way people live and work, also known as breakthrough or discontinuous innovations
• Globalization has offered the world significant advantages for economic gains and comfortable living, but also has risks and uncertainties
• Advantages of Globalization

  • Building up the economic and social structures of struggling countries and economies through free trade
  • Creation of a world-power and less and less compartmentalized power sectors
  • Learning about and sharing new and exciting cultures with one another
  • The opportunity and desire for prosperous nations to help countries struggling with severe issues like unemployment, disease, and natural disasters
  • A more significant opportunity for travel and it increases free trade between nations
• Disadvantages of Globalization

  • The oppression of weaker and poorer economies by more robust ones; 'the rich get richer, the poor get poorer'
  • The danger of job loss, with specific industries and sectors sending jobs to countries where workers are willing to do the same amount of work or more for smaller wages
  • Multinational corporations often get away with poor, unsafe, unethical, or exploitative working conditions due to variations in laws and regulations from one country to another
  • Multinational corporations can exploit tax haven nations, sending large portions of revenue offshore to avoid taxation
• Equity


  Offering varying levels of support depending upon the need to achieve greater fairness of outcomes, goes beyond just equal opportunity
• Interdependence


  When two or more actors impact and rely on each other
• Globalization leads to interdependence between nations, which could cause regional or global instabilities if local economic fluctuations impact many countries relying on them
• Interdependence describes when two or more actors impact and rely on each other, like in the flour industry where different parties specialize in different parts of the process