This paper investigates the globalization of the fashion industry and its effects on Ghanaian in- dependent fashion designers and finds feasible strategies that can be employed for the improve- ment of the fashion business in Ghana. The research is based on qualitative research approach which employs observation and interview for data collection.
Negative impact of globalization Negative impact of globalization Many elements of globalization have an overall positive impact on our world economy.
Though some positive aspects may take time, there are still several aspects of globalization that impact the world economy in a negative way. Now that we have explored that positive aspects in the previous paper.
It is important to now reflect on some negative realms of globalization. Again, globalization refers to the trend towards a more integrated and interdependent world economy. Within that brief definition, we also breakdown globalization in how it comes into play in terms of the globalization of markets, production, and global institutions as well as the specific drivers of globalization.
From local business to foreign business coming into our markets, globalization is changing the way we see and operate in the world.
In this, we begin to see several drawbacks that are economic, global, and political. The first negative impact of globalization that is important to talk about is how the labor force has shifted. This is a negative economic effect that can be seen in both countries as a whole, as well as certain sectors of an economy.
Developed countries are now outsourcing to other countries, which in turn hurts their home labor force. This is an inequality among countries.
This was great for emerging economies like China who because of this started to converge with those of the developed world and overall growing economically.
However, this resulted in manufacturing firms outsourcing most of their production. Real wages for unskilled labor fell within these developed countries.
This demonstrates why many old industrial countries and cities in both Europe and North America are now struggling to stabilize the economy and related the rising number of jobless people.
This process has led to a transfer of jobs from developed, and highly-successful countries to those that are less developed. This is because less developed countries that have lower wages overall, inexpensive coal, and little to no regulations when it comes to pollution.
Leaving most developed countries unable to possibly compete. Just in the US, the percentage of employed citizens has drastically dropped, especially since China joined the World Trade Organization. However, the globalization negative effects can be seen all around the world, not just in the USA.
So many countries are hiring help off shore due to employees who are willing to do the same job, at lower prices, which actually influences the economy of a country in a negative way, all because of globalization. So, though we produce more goods and services than ever before, a greater proportion is being traded and manufactured across national borders.
The textbook also covers this important topic, and is often times a topic that gets lots of attention from globalization opponents. They argue that because many barriers are being lifted to encourage international trade, it has in turn destroyed manufacturing jobs in more developed countries like the United States.
One of the examples given in chapter 1 that I think perfectly encompasses this argument is the case of Harwood Industries. Harwood Industries was a U. The main reason behind this change was because in the U.
It was two journalists, and anti-globalization activists, D.
Steele who used this case to support their thoughts. It is shifts like this that have caused developed countries to have depressed wages.
When in all reality because of globalization, countries are no longer thinking about their own residents and local economy, but this idea of an overall communal economy. Another source of concern as far as the negative impact of globalization is how free trade encourages the shift of business to less developed countries who lack adequate regulations.
A lot of this concern actually spurs from the manufacturing shift discussed above, and it is how the overall ethical aspects of international business are being ignored. In a lot of ways, globalization has led to exploitation of labor.
Many of the countries now being used a manufacturing hubs have little to none international or local regulation laws. This can have a very negative effect on the safety of workers and the environment of a nation if not watched.
We cannot deny that cheaper labor costs more often than not translate to immense profits for the organization, that is why it is so appealing to big business.
However, there are large negative factors that cause a negative outcome of this. The best example of this would be with Nike.
Like many large companies in the 20th century, in Nike began to move production overseas. The untapped markets across the globe presented several benefits at this time. Stockholders and managers were receiving large dividends, and consumers were continuing to get the products they love.Many elements of globalization have an overall positive impact on our world economy.
Though some positive aspects may take time, there are still several aspects of globalization that impact the world economy in a negative way. Now that we have explored that positive aspects in the previous paper. The impact of globalization has made substantial changes in fashion marketing however with the latest information technologies and communication systems the speed of this change will increase significantly forcing imaginative and innovative response to market.
Then the conclusion will be presented at the end concluding the impact of globalization on the clothing industry as well as on Zara and H&M.
Demographics Garments industry is also related to a fact that they are produced where they are required by the customers. The first negative impact of globalization that is important to talk about is how the labor force has shifted.
This is a negative economic effect that can be seen in both countries as a whole, as well as certain sectors of an economy. In this essay, the impact of globalization on two industries the fashion industry and pharmaceutical industry are discussed.
In the case of fashion industry, the globalization impacts are through the combination of cultural, technological and economic dimensions. Looking at the industry from a business perspective, it includes much more than just clothes, accessories, and shoes.
The manufacturing, distribution, marketing, advertising, branding, importing and exporting of fashion also plays an important part in this industry. Billions of .