Week 2: Activity 2: Pankaj Ghemawat on Globalization
Globalization explains the contemporary social and economic development from outsourcing prevalence to the popularity of fusion cuisine. Prof Pankaj Ghemawat, also an economist postulates that a dive into different data proves that global business is not connected in the way that people portray it to be (Ghemawat, 2016. He argues that globalization implies differently for multinationals and not the way business people perceive it.
- The case for globalization is overstated by apocalyptically minded researchers: Many people almost acknowledge that the world is flat which is a large error, and this is globaloney.
- Globalization is exaggerated and authors see it an a hallucinating manner that gets people lost and unable to clearly understand what exactly globalization is and involves.
- Flatteners: Pankaj’s personal observations reveal that globalization entails offshoring and outsourcing in the supply chain by companies in the global marketplace.
- More collaborative business processes enhance globalization and this has globalized nearly 25 percent of world’s business by countries.
Much of the world is not as connected as most people portray it to be. In his book, “Global Prosperity and How to Achieve IT,” Pankaj Ghemawat challenges people using the recent TED Global Conference in Edinburgh, Scotland, to determine the number of foreign friends they had at their Facebook walls (Ritzer and Dean, 2015, p. 33). Facebook is a perfect example of a company in which Pankaj Ghemawat’s ideas on globalization apply and are based. Most people have fewer Facebook friends from different countries when compared to friends in their domestic countries. Pankaj Ghemawat points out that the percentage is lower than the actual percentage that audience expect (Ghemawat, 2017, p. 40). In his argument, Ghemawat states that unlike what most strategists and researchers believe, the world is not “globalized”. He further points out that cross-border differences matter and determines the world economy, not the aspect of globalization as many people deceive themselves. Ghemawat’s ideas significantly differ from the views of other known intellectuals such as Thomas Friedman. In an article published in 2007 about “Foreign Policy,” he postulated that 90 percent of phone calls in the world, Web traffic, and investments are domestic and not international (Ghemawat, 2008, p. 400). According to him, Friedman grossly exaggerated the importance of globalization trends in what he termed “The World is Flat”. In his arguments, Ghemawat highlighted that we exist in a wired world where ideas, information, money, and people can roll about in the planet in a more faster rate than before, just a fraction of what people consider globalization to be in existence.
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