Posted: July 19th, 2023

Technological Globalization Methodology Capstone Project

Wolf, “Why Globalization Works”

Martin Wolf begins his argument about “Why Globalization Works” with evidence of globalization’s role in the widening gap between the world’s richest and poorest groups, with statistics quoted in which the world’s richest 200 individuals own more than the total combined income of the world’s poorest 2 billion people. Wolf examines the claim that globalization is responsible for a massive growth in inequality, which as he summarizes it contains seven different points: the gap between average incomes in the richest and poorest countries continues to grow, so has the gap in living standards, overall global inequality among individuals is rising, the number of people in extreme poverty has grown, so has the overall percentage those people comprise of the world’s population, the poor are worse off in terms of most other quality of life measurements, and finally income inequality is increasing within countries in direct proportion to their participation in the globalized economy.

But Wolf notes that “critics of globalization have themselves often rightly argued that there is more to life than income” (Wolf 703) and thus a focus on the mere statistics of inequality may be looking in the wrong place. It is possible for the increase in the incomes of the rich at the expense of the poor, or with no change whatsoever for the poor, or else it might be possible that, metaphorically speaking, a rising tide lifts all boats. In a purely utilitarian calculus, Wolf argues, the only one of these that is unambiguously bad is the scenario in which the rich get richer at the expense of the poor. To object to the rich getting richer with no change for the poor, Wolf slyly argues, is to show oneself prejudiced against the welfare of the rich. In any case, Wolf also notes that the relation of globalization to any one of these outcomes is going to be complicated, and it may not be possible to lay the blame for negative outcome specifically on the pressures and priorities that come with participation in the globalized economy.

Wolf then speaks from his experience as a senior economist with the World Bank, in charge of overseeing India. The change in India and China over the past four decades as they have gradually introduced market reforms, as Wolf describes it, is not only phenomenal in terms of the economic growth that followed, it was also particularly remarkable in terms of its real-world positive outcome for the poorest in those countries (who surely would otherwise count, in such populous conditions, among the poorest in the world). Wolf identifies globalization as having a net positive effect on the lives of the poor, and “in a nutshell,” he states bluntly, this improvement in quality of life “is why” the focus on inequality “is wrong,” since “globalization has not increased inequality.” (Wolf 705). Wolf notes that overall the only thing held in common by all countries where conditions are improving is that each “chose, however haltingly, the path of economic liberalization and international integration. This is the heart of the matter: all else is commentary…” (Wolf 706). He notes that this kind of rapid growth is “bound to be uneven” and addresses critics like Pogge and Reddy, who suggest that rather than looking at income the welfare of the poorest countries should be measured in terms of “calories and essential nutrients” (Wolf 707). But Wolf cites improving statistics on life expectancy, infant mortality, literacy, reduced fertility rates — and a decline in malnourishment and child labor, together with global trends toward democratic government and women’s equality. Wolf notes that “social progress has been greatest where incomes have risen fastest” (Wolf 710). And in his conclusion he returns to the seven points usually claimed about globalization and inequality which he had summarized at the beginning. In light of the additional information he has offered, he now suggests that the only facts advanced by critics of globalization which are actually true are the first two points: that overall inequality between richest and poorest countries has increased, and the gap in living standards between them has grown. But the other five points, he reveals, are all entirely false because the material sitation of the poor has improved vastly under globalization. At this point, he notes in conclusion, the “problem of the poorest is not that they are exploited, but that they are almost entirely unexploited: they live outside the world economy” (Wolf 711).

TECHNOLOGICAL GLOBALIZATION Methodology

In conducting a literature review, I attempted to identify the most salient issues affecting the current and impending trends in globalization so that I could effectively research them. Specifically, I was attempting to ascertain the various levels of stratification into which I could compartmentalize different facets of globalization. One can deconstruct globalization in many different ways: by the size and the scope of participating organizations, by their access to supplies and the management process associated with the supply chain, as well as by leadership issues related to expatriation and attempts to manage workers in foreign parts of the world. The potential problems that I can foresee involve merely encountering too many different aspects of globalization from a disparate perspective. Additionally, I will have to be able to quantify or evaluate the immediacy and relevance of the various facets of globalization I encounter, in order to properly categorize them and know which issues are the most eminent to discuss in this document.

Research Design

My approach was based on identifying publications of value (which included scholarly journals) and systematically scouring them for articles related to different facets of globalization. There are a number of search engines which I can utilize to obtain this objective. Many of these search engines are available through the library of my educational institution. After obtaining these articles, I plan to categorize them by subject and to prioritize them based on the frequency of subjects encountered. Therefore, topics that I encounter the most will receive the most attention in my writing of this document. I plan to initially categorize the article via the means of metadata (which in this case is provided by their titles, as well as by the statue of the publication — since I am generally familiar with the most prominent Information Technology publications.

Data Collection

Based on the results that I will garner from the aforementioned search engines and their metadata, I will be able to discern the various topics of interest for the results of information technology on globalization. After categorizing them by popularity of topic and eminence of the publication, the principle method of data collection (since this is information for a literature review) will involve reading through the articles in those topics that are the most relevant to my research. However, even this approach will be decidedly systematic in nature. I will utilize metadata of the respective articles in the form of the headings that they offer. For instance, I will begin by probing through their abstracts to find the particulars of these works, then peruse their conclusions to find the most important factors that enabled the authors to draw their conclusions. I will utilize such an approach to systematically work my way through the articles so that I can readily find the details regarding globalization that are most influential in contemporary and future society.

Analytical Procedures

There are a number of salient trends in globalization that I am previously familiar with and which I have studied in my coursework that will serve as the basis of analysis. The emergence of data as a viable resource to improve operations and business processes is one such trend, current emphasis on identifying cultural values and accounting for them from a managerial perspective is another such trend, the increasing reliance on cloud computing and third party service providers is another such trend. These trends will provide the framework in which to contextualize my findings, so that I can impute the proper significance to the results.

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Posted: July 19th, 2023

Technological Globalization Methodology Capstone Project

Technological Globalization Methodology

IT as it Links to Corporate Strategy

IT is essentially at the very heart of new and innovative business strategy. With such rapid advancements in technology continuing to unfold, it is crucial that IT be at the center of development and design for any organization, especially ones entering new global market environments as businesses continue to expand internationally. IT departments help keep organizations at the forefront of corporate strategy (Arora et al., 2004). As such, “information technology is playing its significant role in the betterment of organizations” (Ahmed et al., 2012). It is strengthening corporate strategy on a global scale. Technology is thus helping drive new and innovative strategies for expanding market environments. In their research, Ahmed et al. (2012) found that “global vision is positively correlated with IT” and “IT and global corporate strategy are positively correlated” as well. This ultimately suggests that innovative IT departments will facilitate the most successful corporate strategies to use in an expanding market environment.

Improving the Person-System-Organization Fit

One such way IT derived strategies can help an organization is through improving the Person-System-Organization Fit. When entering new markets, the people brought in may not immediately bond with the existing organizational culture. IT’s investigations of technology can help increase the efficiency in finding more like-minded people for the organization, even in cultures across the world. Technology can help provide tools for new organizations to find the best new employees in new global markets, but also the best suppliers and other partners in the regions they are entering as well.

Minimizing the Effects of National Boundaries through IT Innovation

Today, national boundaries are not enough to deter international business growth. In fact, “over the past ten to fifteen years, there has been rapid growth in a variety of arrangements for the exchange of technologies or technological services, ranging from R&D joint ventures and partnerships, to licensing and cross licensing” (Arora et al., 2004). The continuing exchange of technology and market share are establishing new relationships between nations and tearing down former boundaries that hindered international growth. It is technology that has been crucial in helping this effort, as

“the diffusion of technology could play an important role in fostering” new relationships between countries that transcend traditional national boundaries (Arora et al., 2004).

Optimizing Social Interactions through IT

Part of destroying national boundaries is the creation of new, international communities. This can be facilitated by increasing use of technology to foster communications that increase a feeling of community despite distance or national identities. Social interactions are rapidly changing because of IT and the implementation of innovative communication measures. There is a critical link between technology and the quality of social interactions (Bijker et al., 2012). Businesses can even identify new consumer targets by effectively using social interaction as a tool within these new market environments. Thus, such organizations must pay “careful attention to the network in which the consumer is embedded necessitates that attention be paid to various social groups (and their interests) who might not have been otherwise considered (because of their apparent distance from the process)” (Bijker et al., 2012). It is crucial that businesses capitalize on stronger social networks with these new markets in order to augment their potential success within the region.

Incorporating Meta-Analysis in Business Development/Strategy

Meta-analysis is essentially the comparison of data from a cross section of studies in order to successfully identify and to pull out patterns from within that already previously observed data set from a multitude of sources. It is the comparison of a variety of research studies in order to pinpoint the commonalities between them so that assumptions can be made within business strategy based on those common findings from the research discourse (Cano et al., 2004). Within this type of methodology, a weighted average is often the primary measure to gauge the prevalence of certain patterns from within research done previously. This average is then compared to the individual studies themselves in order to help determine effect size from a variety of sample studies. It is thus essentially an overview of the existing discourse in order to pull out patterns that can then successfully help drive business strategies.

There have been a number of successful studies that have used this approach of meta-analysis in order to uncover patterns and assumptions about market orientation, both domestically and globally. Cano et al. (2004) used meta-analysis in their research and used data from studies across five entire continents in order to create assumptions about changing market data in a new, globalized environment. A total of 23 countries were examined in this research testing the importance of market orientation in business performance and development from a variety of industries. What the research found through the implementation of meta-analysis was that “the relationship between market orientation and business performance is positive and consistent world wide,” essentially suggesting that better understanding of market orientation helps strengthen the direction of business development strategies worldwide (Cano et al., 2004). Both for and not-for-profit businesses showed positive correlations with business performance and market orientation, suggesting the crucial need for businesses to better get to know their markets, even if they are abroad.

Businesses can benefit dramatically from using meta-analysis in order to drive their operational strategies on a global scale. As seen in this research, going global creates problems in regards to how a business understands new markets. Yet, really investigating these new markets using statistical tools like meta-analysis can prove a positive investment for businesses looking to enter new global market environments. Businesses can use the research conducted previously to spearhead new strategies for developing and tailoring to that unique market spectrum. These strategies are already proven by the research discourse, so they are strong from their basic design. The implementation of such strategies is often much more successful than strategies that have not been so thoroughly tested for success. When entering new global markets, businesses must learn to understand them from an empirical perspective in order to avoid wasting money and resources on ineffective strategies. With the sheer amount of capital it takes to enter a new global market place, meta-analysis proves a strong predictor of success. As such, even smaller business organizations can tap into the research that is already out there so they get a sufficient return on investment when entering new market environments world wide.

References

Ahmed, Irfran, Qadri, Akmal S., Shazad, Rana K., & Khiliji, Bashir A. (2011). Information Technology: Its Impact on Global Management. World Applied Sciences Journal, 12(7): 1100-1106.

Arora, Ashish, Fosfuri, Andrea, & Gambradella, Alfonso. (2004). Markets for Technology: The Economics of Innovation and Corporate Strategy. MIT Press.

Bijker, W.E., Hughes, T.P., Pinch, T., & Douglas, D.G. (2012). The Social Construction of Technological Systems: New Directions in the Sociology and History of Technology. MIT press.

Cano, Cynthia R., Carrillat, Francois A., & Jaramillo, Fernando. (2004). A Meta-Analysis of the Relationship Between Market Orientation and Business Performance: Evidence from Five Continents. International Journal of Research Marketing, 21(2): 179-200.