contemp

• Globalization


  Processes by which the people of the world are incorporated into a single world society
• Globalization


  The consequence of modernity - the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa
• The term 'globalization' was popularized by Anthony Giddens, though he did not coin it
• 4 fundamental aspects of globalization

  • Trade & transactions
  • Capital & Investment
  • Migration of Knowledge
  • Dissemination of Knowledge
• Borderless society


  Term used to define globalization referring to international migration
• Globalization


  The compression of the world and the intensification of the consciousness of the world as a whole
• Globalization was prevalent in academic institutions and used in every field of study
• Charles Taze Russell developed the term 'Corporate Giants' in 1897 which refers to largely national trust and other big businesses of that time
• 3 main categories of globalization

  • Political Globalization
  • Cultural Globalization
  • Economic Globalization
• Globalize


  The term globalization originates from the term 'globalize', which appeared as a noun in an article towards new education
• Conglomerate


  The nature of globalization - the coming together of different products in one place
• Globalization originated in the late 1970s and was utilized for economic purposes in the early 1980s
• Theodore Levitt is credited with coining the term 'globalization' in an article: 'Globalization of Markets' in the late 1980s
• Copyright


  Credits to the owner
• Trademark


  A unique symbol or word(s) used to represent a business or its products, sold for billions
• Patent


  Intellectual property that gives its owner the legal right to exclude others from making, using, or selling, protecting the product from the process of making it by others
• Monopoly


  A single seller or producer that excludes competition from providing the same product, a unique product in the market
• World Economy


  The total of the data from each individual country
• International Economy


  Distinguished and measured differently from national economies
• Non-formal sector


  Does not pay tax
• Formal sector


  Pays tax, legal work
• Push factor


  Low income
• Pull factor


  High income
• Market Integration


  A phenomenon in which marketplaces for products and services that are connected to one another in some way exhibit comparable patterns of price increases or decreases, the interconnectivity of prices among different locations or related goods
• Vertical integration


  Involves the acquisition of business operations within the same production vertical (e.g. one company with many products/markets)
• Horizontal integration


  An expansion strategy that involves the acquisition of another company in the same business line (e.g. different brands of the same product type under one company)
• Conglomerate

  Bounded by licensing agreement (e.g. many businesses under one company like SM with Bench, Nike, etc.)
• International Financial Institutions (IFIs)

  Play a central role in helping to fund activities in developing countries that support sustainable, climate-resilient, and low-carbon development
• International Monetary Fund (IMF)


  International organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty
• Multilateral Development Banks (MDBs)


  Provide loans and grants to member nations to fund projects that support social and economic development, such as the building of new roads or providing clean water to communities
• World Bank Group


  Work with developing countries so that they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global problems
• African Development Bank


  As the leading development finance institution in Africa, the AFDB's priorities are to improve the living conditions of African populations and mobilize resources for the economic and social progress of its regional member countries
• European Bank for Reconstruction and Development


  A development bank that provides project financing for banks, industries, and businesses, both new ventures and existing companies
• Regional Development Banks (RDB)


  Multilateral financial institutions that provide financial and technical assistance for development in low- and middle-income countries within their regions
• International Monetary Fund


  Provides temporary financial assistance to member countries to help ease balance of payments adjustments
• Multilateral Development Banks


  Provide financing for development to developing countries through long term loans (with maturities of up to 20 years) at interest rates way below market rates, with funding coming from international capital markets and relent to borrowing from governments in developing countries
• Short term loans


  Temporary financial assistance
• Long term loans


  Maturities of up to 20 years
• Very long-term loans


  Credits with maturities of 30-40 years, with funding for loans coming from direct contributions by governments in the donor countries
• Asian Development Bank


  Committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty