The word “Global” came from the word “Globe”. Globe means the earth or world. Global means worldwide. The word “Village” is considered to be a social structure or we can say a specific territory were people live. So, by getting the meaning we can say “Global Village” is a worldwide village. We modern people consider the globe as a village.
But it’s impact or activities are no so easy to say.
It’s a very modern concept of civilization as well as trade and business. Normally, trade or business and economy takes place within a territory or boundary. On that territory, different economic medians play a very effective role. In the Global point of view personals or the business commodity of that particular territory have to be very keen and conscious. One thing, all the business commodity keep in mind that, when the market area is on the process of expansion, personals have to maintain a bird view sight over the trade and business.
It is very much clear to all of us, in term of Global Village concept, business commodity need to keep eye on each and every sides of a business. Because, it’s an open market policy. In this policy whole the world is considered as a market. One can easily get into the market with various types of Product line. As the market is open for all, the product and service of a particular company should be up to the international standard. Or else any substitutes can take place swiping out that company’s product or service.
Some of the business personal often says the Global Village as Globalization. Because of massive information and communication revolution the Globalization terms is much more easier. In this concept there is no boundary or territory for any body. Any one can communicate with a person from a distance and can establish business relation.
There are some criticisms of Globalization or Global Village concept. As because of open market policy comparatively weaker company or organization of developing countries are facing lots of problems. They don’t have sufficient capital to develop the management and manufacturing system to compete the developed countries. More over the developed countries are capitally solvent. So their production is much more higher but they don’t have market to sell. To sell their products and services they need market, with the cause of globalization they are in a good position of grabbing the market of developing and less developed countries. As a result of Globalization, developed countries are developing more on the other hand under-developed countries are on the process of depriving.
From the above discussion we can come to a conclusion, the concept of Global Village or Globalization can help the organization to improve the quality of their products and services to survive in the market or business.
Noman Bin Zahiruddin