Marshall McLuhan is a relatively unknown figure in the modern world. In an era when celebrities are famous simply because they are famous, a man like McLuhan should be more well known. Besides his contributions to literary criticism and media theory, he also had a cameo in Woody Allen’s 1977 Oscar winning picture Annie Hall. But the perhaps most prescient contribution he made to twentieth-century thought was the idea that globalization has fundamentally changed the world. He coined the term ‘global village’ back in 1964 and what he meant by this was the that the advances in technology, many of which were not even close to being a reality yet (the World Wide Web was not invented until 1990 by Tim Berners-Lee), would connect all parts of the world so efficiently that it would effectively be the size of a village. His thesis has been proven. Web sites like Twitter allow for news stories to break quicker than ever and even helped facilitate events like the Arab Spring. We are now inevitably more informed and closer connected to each other than ever before.
The effects of globalization do not just stretch to the media, however. They have changed the world of business too. As economies have become more intertwined, their natures have altered. Lots of jobs that citizens of Western nations once enjoyed have now been outsourced to parts of the world where labour is cheaper. It follows that those economies will become stronger as a result, and as China demonstrates, they can even become world leading. However, not all of the effects of globalization are necessarily a bad thing for your business. Here are a few ways that you may be able to benefit:
One of the obvious upsides of being connected to people all over the world via the internet is that you have many more potential customers. If you just had a store in a single city, you would be confined to only those people who came to your store. With the whole world accessible at your desk, the possibilities are greatly expanded.
Another great thing about globalization is that you can be a customer of the whole world. Sometimes it can be difficult to source an object but with everywhere now able to help, it should be much easier. Companies like digsemi, for instance, can help you find the exact electrical components that you need. You no longer have to end your search at the nearest hardware store.
The rise of globalization has also meant that the world's populations have literally come into closer contact with each other. The European Union is a good example: people from every country have settled in every other, thus pollinating the continent with the diverse and fascinating cultures to which it is home. This is good for your business because it allows you to have a bigger pool of potential employees to choose from so you can get only the most skilled.
In short, the new global market is exciting and a great opportunity for any business owner.
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