Globalization Flashcards
What is Globalization?
Growth of international exchange of goods, services, and capital which increase the levels of integration that characterizes economic activity. Includes the movement of knowledge and information
What is internalization?
Designing products and services by making it adaptable so it can enter different markets
What is Localization?
Adapting a product to suit the specific target market to make it highly relevant. (Cultural Adapatation). Includes consideration on cultural factors on the target market.
What is World Systems Theory?
A world-system is a multicultural territorial division of labor in which the production and exchange of goods and materials is important for surviving everyday life. This division of labor is explained as the forces of production of the world economy and the reason for the existence of the two interdependent regions called core and periphery. A perspective the views globalization as the expansion of capitalist system.
Who is associated with the World Systems Theory?
Associated with Immanuel Wallerstein in 1974
What is a capitalist system?
political and economic system where trade, industries, and economy in general are dominated by private ownership instead of being state owned
What is the core in the world systems theory?
advanced/highly developed countries with higher level of education and more tech generate more wealth in economy
What is the semi-periphery in the world systems theory?
defense zone between the two. May have mix of the two. May be exploited yet will also exploit.
What is the periphery in the world systems theory?
less developed country with lower levels of education and tech, less wealth
Core is ____________ extensive; while Peripheral are ___________.
Core = Capital Extensive
Peripheral = Labor Intensive
What is the world polity theory?
State remains as an important component of world society and societies become more similar in terms of governance and policy. Considered as a response to modernization theory. It is assumed that countries will go on the same stages of development because the governments are quite similar.
What is the world culture theory?
World culture is new and important, but it is less homogenous than world polity scholars imply. World culture is new and important, but it is less homogenous than world polity scholars imply. Makes globalization as both compression of the world and the intensification of consciousness of the world as a whole.
What is relativization?
This means that each unit emerging in the world order takes shape depending on its surroundings. For example, as nation-states become subject to universal standards derived from a common conception of humankind, citizenship in those societies become relativized.
What is emulation?
Although globalization cannot create a common culture, where everyone has the same values and beliefs, it can create a single arena in which all actors pursue their goals with comparison to others, employing at least some common standards as yardsticks.
What is glocalization?
The ideas and processes inside globalization are interpreted differently according to the point of particular groups and their history. In other cases, this is done strategically, for example when global marketers create local traditions on the assumption that difference sells.
Differentiate homogenization to heterogenization
The ideas and processes inside globalization are interpreted differently according to the point of particular groups and their history. In other cases, this is done strategically, for example when global marketers create local traditions on the assumption that difference sells.
