ECONOMIC CONSEQUENCES OF GLOBALIZATION ON...

ECONOMIC CONSEQUENCES OF GLOBALIZATION ON TELECOMMUNICATION INDUSTRY Case of Vodafone Contents Contents 2 SUMMARY 3 ECONOMIC ANALYSIS OF GLOBALIZATION 3 GLOBALIZATION OF TELECOMMUNICATION INDUSTRY- CASE OF VODAFONE 4 CONSEQUENCES OF GLOBALIZATION ON TELECOMMUNICATION INDUSTRY- CASE OF VODAFONE 4 EVALUATION AND CONCLUSION 6 REFERENCES 7 SUMMARY While discussing the topics of trade, development and political economy, globalization is often discussed. In general, globalization means a process in which world economies become highly integrated, leading to a global economy and highly global economic policymaking, through international agencies such as the World Trade Organization (Todaro Smith, 2006). Since late†¦show more content†¦Ibbott (2007) explained what really globalization means as â€Å"A global company is one that permits its local operations to act in the image of the market locally and yet can act in a truly homogeneous way with respect to the supply and provision of its core products and services† Vodafone is a global company as its sourcing and supply chain activities are transferred to be entirely global for the major part of its investment, while services remain local (Ibbott, 2007). Globalization does not mean to open operations and branches in other countries but to make its operations global, not directed by the head office located in the parent country. CONSEQUENCES OF GLOBALIZATION ON TELECOMMUNICATION INDUSTRY- CASE OF VODAFONE Globalization has become a vital aspect of the global economy and strongly influences the comparative advantage of economies. (Salvatore, 2004) examined the effect of globalization on the comparative advantage of Europe for several goods and concluded that Europe has a comparative disadvantage in telecommunication with respect to Japan, United States and Dynamic Asian countries. The degree of globalization is a significant element in examining the international competitiveness of economies. Large multinational corporations are enjoying the benefits of globalization, the most. Almost 50Show MoreRelatedImpact of Globalization in Belgium670 Words   |  3 PagesGlobalization in Belgium (chronology) Globalisation is about the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture around the world. European Union is one of the integration processes. European Union (EU) is an economic and political unity and this unity have 28 members that located in Europe. 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