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Summary Globalisation
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In depth knowledge about globalisation
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Technology has been one of the main forces driving globalisation, technological progress andbreakthroughs allow businesses to become globally successful and increase capital income as the
market size is growing rapidly as a result of this. There is a wide range of technology which has
helped globalisation such as the Internet it has reduced barriers such as time as orders for
businesses can be placed much quicker and easier. This allows buyers and sellers to make
transactions at any time in the world. High-technology Products were limited to rich countries with
high wages, however due to technology this allows developing countries to have high-tech
production lines which can be combined with low wages. This allows business firms to increase their
profit as there manual labour services are cheaper as their production lines are taking place in
developing countries such as India where minimum wage is much lower compared to the UK.
Another technological influence that has contributed to globalisation has been the fibre-optic cables
which travel along the seabed. This allows landlines to be installed in House is globally. This results in
more communication between the world as you can make a phone call to anywhere in the world as
long as it’s got a landline. This also allows there to be Internet and 72% of purchases are made online
which results in economic growth. For example Technology allows people to quickly and easily buy
things online from across the world such as Products from different cultures. Which increases social
diversity as different cultures are being brought into different areas of the world due to technology
allowing people to buy these products online.
Lastly modern technology allows TNCs such as McDonald’s to send commodities worldwide to their
franchises. Due to adaptation of These large corporations and businesses such as McDonald’s, The
type of food that is made is change depending on the location of the restaurant. For example in
India they have a different menu to the UK. This allows India culture to stay within its country and
ethically allows the people to still be able to eat what they wish depending on their religion. This
allows McDonald’s to still make profit as the business is still running even if it is different food in a
different country money is still being made. This is all down to technological contribution as
McDonald’s is able to import the food from a range of sources all being able to be purchased online
which decreases waiting time for products.
In conclusion technology has had a large influence in globalisation as it has increased market
demand and decreased production line. As a result of this there has been a large economic growth
in these countries which have the TNCs.
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