Organisations are exposed tp global forces of demand, supply, international market competition, their relevances to global issuesglobaocial concerns, demographic changes and political developments instead of remaining protected by local environment. Stakeholders' interests are accordingly affected also by the net impact of the same set of factors instead of being mere subject to local situations and trends. This applies to all stakeholders - investors, business managers, labour, suppliers, farmers, consumers, politicians and administrative bureacrats, govt. servants, the young, and the old, men and women as also all types of organisations - buiness firms, trade associations, govt.s, civic authorities, NGOs, civil societies,social and cultural organisations, religious establishments, scientific bodies, education and research insitutions, political parties, the military organisations, multi-lateral organisations and the terrorit outfits. Those who cannot adapt to the global forces sooner or later lose their relevance and struggle to survive. Those who adjust and change as the globalisation proceeds convert global opportunities into strategies that strengthen them and make them continously relevant and deal with the threats from the environment more effectively.

Effects of globalization: (see wiki)

Effects of Globalization

Sculpture by Robert Indiana at Taipei 101 (Taiwan)Globalization has various aspects which affect the world in several different ways such as:

Industrial (alias trans nationalization) - emergence of worldwide production markets and broader access to a range of foreign products for consumers and companies

Financial - emergence of worldwide financial markets and better access to external financing for corporate, national and subnational borrowers

Economic - realization of a global common market, based on the freedom of exchange of goods and capital.

Political - political globalization is the creation of a world government which regulates the relationships among nations and guarantees the rights arising from social and economic globalization. [45]

Informational - increase in information flows between geographically remote locations

Cultural - growth of cross-cultural contacts; advent of new categories of consciousness and identities such as Globalism - which embodies cultural diffusion, the desire to consume and enjoy foreign products and ideas, adopt new technology and practices, and participate in a "world culture"

Ecological- the advent of global environmental challenges that can not be solved without international cooperation, such as climate change, cross-boundary water and air pollution, over-fishing of the ocean, and the spread of invasive species. Many factories are built in developing countries where they can pollute freely.

Social - the achievement of free circulation by people of all nations

Transportation - fewer and fewer European cars on European roads each year (the same can also be said about American cars on American roads) and the death of distance through the incorporation of technology to decrease travel time.[clarify]

Greater international cultural exchange

Spreading of multiculturalism, and better individual access to cultural diversity (e.g. through the export of Hollywood and Bollywood movies). However, the imported culture can easily supplant the local culture, causing reduction in diversity through hybridization or even assimilation. The most prominent form of this is Westernization, but Sinicization of cultures has taken place over most of Asia for many centuries.

Greater international travel and tourism

Greater immigration, including illegal immigration

Spread of local consumer products (e.g. food) to other countries (often adapted to their culture)

World-wide fads and pop culture such as Pokémon, Sudoku, Numa Numa, Origami, Idol series, YouTube, Orkut, Facebook, and MySpace.

World-wide sporting events such as FIFA World Cup and the Olympic Games.

Formation or development of a set of universal values

Technical/legal

Development of a global telecommunications infrastructure and greater transborder data flow, using such technologies as the Internet, communication satellites, submarine fiber optic cable, and wireless telephones

Increase in the number of standards applied globally; e.g. copyright laws, patents and world trade agreements.

The push by many advocates for an international criminal court and international justice movements.

[edit] Trade barriers

Since World War II, barriers to international trade have been considerably lowered through international agreements - General Agreement on Tariffs and Trade (GATT). Particular initiatives carried out as a result of GATT and the World Trade Organisation (WTO), for which GATT is the foundation, have included:

Promotion of free trade:

Reduction or elimination of tariffs; construction of free trade zones with small or no tariffs

Reduced transportation costs, especially from development of containerization for ocean shipping.

Reduction or elimination of capital controls

Reduction, elimination, or harmonization of subsidies for local businesses

Restriction of free trade:

Harmonization of intellectual property laws across the majority of states, with more restrictions.

Supranational recognition of intellectual property restrictions (e.g. patents granted by China would be recognized in the United States)

Globalization is also defined as the internationalization of everything related to different countries; Internationalization however, is a contrasted phenomenon to globalization.Note that effect of globalisation depends not only on the globally operating forces and the weaking of the dominance of those who were stronger in the past, but also on how the organisations and their stakeholders respond to the global forces. Thus the net effect differs widely from organisation ot organisation, country to country - look at China vs. USA, World Bank vs. Asian Development Bank, India vs. Pakistan, Iran vs.Australia, Cricket vs. Hockey, GFarmers in the US and Europe bs. Farmers in Vietnam and India. Get an idea by looking at the sources listed below.