Has globalization transformed the pattern of global poverty and Essay

Has globalization transformed the pattern of global poverty and inequality In what ways - Essay Example Based on the assumption that comparative advantage of nations can offer countries an advantage over others, open markets and liberal trade can result into improved trade as well as capital flows and thus help improve the poverty and achieve economic prosperity. It is generally argued that Globalisation can reduce poverty if nations follow the open liberal policies and focus upon achieving sustained level of trade with developed countries. However, considering the inherent differences between developed as well as developing countries, it is also suggested that whether the distribution of flows generated as a result of Globalisation is fair or not. Inequality is also considered as another important issue regarding Globalisation (Moseley and Gray, 2008). This paper will argue and discuss as to whether Globalisation has actually resulted into transformation of poverty patterns and inequality and if yes, in what ways it achieved both the ends. Globalisation, Poverty and Inequality Globali sation is a relatively diverse term as it not only suggests an integration of ideas, products and economic flows but also signifies an integration of the culture also. ... Globalisation essentially suggests that poor as well as rich countries can actually trade with each other as poor or developing countries are considered as abundant in raw materials as well as cheap labor. Large global organizations, due to their sheer size as well as the improved communication and transportation infrastructure, can actually establish their manufacturing facilities in developing countries and subsequently transport back the finished goods to their own parent countries for subsequent sale. The overall economic logic is based upon the assumption that developing countries not only have the cheap and abundant raw materials but also have the cheap labor. Combining this two, it is assumed that it becomes relatively more cost effective for the global organizations to actually trade with poor countries (Goldin and Reinert, 2007). Poor countries on the other hand allow developed countries to enter into their countries with the assumption that such trade will generate employme nt, improve the level of skills of their workforce and will also result into transfer of technology to them. Apparently, Globalisation promises an equal access to the market for everyone, improve capital flows and ensure development and transfer of technology however, the actual results may suggest a widespread economic divergence between the developed as well as developing countries since the Globalisation forces started to dominate the economic policy making in countries (Kaplinsky, 2005). The overall evidence regarding the impact of Globalisation on poverty as well as inequality is relatively diverse in nature. There are two important cases in point which suggest that

Restoring Toyotas Reputation Essay Example | Topics and Well Written Essays - 750 words

Restoring Toyotas Reputation - Essay Example The blow based on reputation was very damaging (Costea 2010). The first thing Toyota should have done is to clarify any point that the consumer needed to know more about the problem that had caused the recalling of cars. Toyota actually did this right as good management would do. They came up with a way to confront the criticism put forward and to respond to any questions and points that needed clarification to the consumer. Their strategy to handle all the inquisitions was through social media using Social Digs, Twitter and Facebook (Toyota 2009). The next step would be to immediately identify where they had gone wrong during the production that affected the quality of the final product. Somewhere along the line of production an error must have occurred to cause the problem that would come to affect the quality and thus damage the reputation of Toyota (Ohnsman and Kitamura 2010). After performing this review and identifying where the production had gone wrong, they should have mende d that loophole. The better way of dealing with this was for the management to change the system of reviewing quality in cars. This would build some confidence and form assurance of a proper method of evaluating quality to the consumers who have become distrustful of the current method of checking for quality. If the management changes the evaluation system and makes this public, they will reassure the public of good quality and in turn revive their reputation (Anon, 2010). The Toyota management should also try to make policies that consider the customer’s point of view in their implementation. They should not make cars with the quality that they feel they need to be producing, but they should make cars with the quality standards that their customers need in a car, making the production be all about what the customer needs. There was a lot of speculation on the cause of the acceleration in the Toyota cars. Some of the critics even cited a ridiculous claim such as electric fau lts in the cars (Kaufman 2010). The management should thus have fit the Toyota cars with an event data recorder that would record all the data a car outputs, and thus the cause of the problem would have been quickly identified, hence avoiding speculation from critics that would be more damaging to the product. The company should also have set up regional technical offices to help evaluate the cars needed to recall. In 2009, they had to recall entire shipments of cars. There was no evaluation on the status of the car regionally, which led to massive recalling. Analysis at a regional level would have reduced the number of cars being taken back to the company greatly by solving some of the technical issues regionally. The Toyota has raised its reputation since the 2009 crisis, and it was rated at number 74 as of 2012 (Davis 2012). Coming up with a new managerial structure that is set to achieve proper marketing of the product will see them get their competitive edge back and rise to th e level they were before. One such structure is the organisation of the TNGA planning division that will see the company realise the Toyota Global Vision (Toyota 2013). To sustain Toyota’s competitive advantage, they have come up with a Kaizen approach in lean production. The Kaizen approach involves continual development and implementation of new better changes in its method of production. It brings in team effort and the opinion of each team player is considered and evaluated on the improvement in the production system. This system has great improvement in the