While in Vienna we had the pleasure of visiting the Canadian Embassy for a presentation by Simon-Pierre Rhéayme about globalization in Austria and Canada. Typically, Austrians want tested and proven options before making changes whereas Canadians do not need the proof for security.
According to Rhéayme, there are four positives of globalization. The first is access to markets. This will ultimately increase the economy by with the power of supply and demand. The next is innovation which helps improve many different aspects of countries. Innovation can help improve things such as construction, technology, and quality of life. The third is the workforce. With globalization, the workforce will be positively impacted by cost and quality. This can increase workers wages ultimately leading to an increase in the quality of life in the workers. This leads into the last positive of globalization which is stability and quality of life. Stability of the economy and political environment is crucial for effective globalization. Negatives of globalization also play a major role. When globalization occurs at a high rate, economies may not be able to keep up and workers could ultimately lose their jobs. Globalization can affect any different aspects of a culture and economy. It can cause a physical security risk from company vulnerability and can cause a disastrous recovery plan. It can also have a digital security risk in regards to confidential information and communications. Finally, the reputation at risk must require ethical behaviour from all employees and business partners. Globalization can benefit many countries and communities however, it can lead to damage and even betrayal of one's own beliefs.
According to Rhéayme, there are four positives of globalization. The first is access to markets. This will ultimately increase the economy by with the power of supply and demand. The next is innovation which helps improve many different aspects of countries. Innovation can help improve things such as construction, technology, and quality of life. The third is the workforce. With globalization, the workforce will be positively impacted by cost and quality. This can increase workers wages ultimately leading to an increase in the quality of life in the workers. This leads into the last positive of globalization which is stability and quality of life. Stability of the economy and political environment is crucial for effective globalization. Negatives of globalization also play a major role. When globalization occurs at a high rate, economies may not be able to keep up and workers could ultimately lose their jobs. Globalization can affect any different aspects of a culture and economy. It can cause a physical security risk from company vulnerability and can cause a disastrous recovery plan. It can also have a digital security risk in regards to confidential information and communications. Finally, the reputation at risk must require ethical behaviour from all employees and business partners. Globalization can benefit many countries and communities however, it can lead to damage and even betrayal of one's own beliefs.
To my peers, do you think globalization will ultimately benefit the world as a whole, or will it hurt certain countries and benefit others more?
- Kendra and Shafina
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