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GLOBALIZATION
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It is the process of interaction and integration among the people, companies, and governments of different
nations, a process driven by international trade and investment and aided by information technology.
It is seen as a conscious and active process of expanding businesses and trade across the borders of all the states.
It stands for expanding cross-border facilities and economic linkages.
The objective is to make the world an interrelated, inter- dependent, developed global village.
It represents the desire to move from national to a global sphere of economic and political activity.
It seeks to transform the existing international economic system into a unified system of global economics.
Technology has been the other principal driver of globalization.
Advances in information technology, in particular, have dramatically transformed economic life.
Information technologies have given all sorts of individual economic actors' valuable new tools for identifying
and pursuing economic opportunities, including faster and more informed analyses of economic trends around the
world, easy transfer of assets, and collaboration with partners
Reasons for Globalization
1. Improvements in transportation
- Transport Improvements also mean that goods and people can travel more quickly.
2. Freedom of trade
- Organizations like the World Trade Organization promote free trade between countries, which help to remove
barriers between countries.
3. Improvements of communication
- The internet and mobile technology have allowed greater communication between people in different
countries.
4. Labor availability and skills
- Labor intensive industries such as clothing can take advantage of cheaper labor costs and reduce legal
restrictions
Positive Consequences of Globalization
1. Access to a wider variety of goods and services
2. Lower prices
3. More and better-paying jobs
4. Improved health
5. Higher overall living standards
6. Globalization is merging historic distinct and separate national markets into one huge global marketplace
Negative Impacts of Globalization
1. Globalization operates mostly in the interests of the richest countries.
2. There are no guarantees that wealth from inward investment will benefit the local community.
3. An absence of strictly enforced international laws.
4. Globalization is viewed by many as a threat to the world's cultural diversity.
Ethical Issues on Globalization
1. Reduction or protectionism is unfair unless applied fairly.
2. Inequality of power
3. The gap between rich and poor in the world is still very large.
4. Economic globalization marginalizes the poor, destroys the environment and damages control.
5. Globalization increases inequality and further impoverishes the poor.
6. Many of the global problems are by-products of the expansion of the global economy.
7. Poverty
8. Income gaps within and between countries.
9. Inadequate resources for common needs.
10. WTO ignores labor rights and the environment.
GLOBALIZATION AFFECTS MILLENIALS AND FILLENIALS
Millennials
It refers to the generation of people born between the early 1980s and 1990s, according to the Merriam-Webster
Dictionary.
Some people also include children born in the early 2000s.
The Millennial Generation is also known as Generation Y.
The generation was called Generation Y because it came after Generation X those people between the early
1960s and the 1980s.
The millennials have also been called the Peter Pan or Boomerang Generation because of the propensity of some
to move back in with their parents, perhaps due to economic constraints, and a growing tendency to delay some
of the typical adulthood rites of passage like marriage or starting a career.
Negative Characteristics of Millennials
1. They are described as lazy, narcissistic and prone to jump from job to job.
2. They have been rewarded for minimal accomplishments such as participation in competitive sports.
3. They have unrealistic expectations of working life.
4. They are more civically and politically disengaged.
5. They are more focused on materialistic values.
6. They are less concerned about helping the larger community.
Positive Characteristics of Millennials
1. They are generally regarded as being more open-minded.
2. They are more supportive of gender equality.
3. They are confident, self-expressive, liberal, upbeat and receptive to new ideas and ways of living.
The Filipino Millennials or Fillenials
1. In the Philippines, millennials make up one-third of the total population.
2. Millennials in the Philippines are described as those who are social media-dependent and also, the selfie
generation.
3. Millennials in the Philippines are known to usually known to spend for luxury goods which leave their bank
accounts shaken the reason why they are also described as broke.
4. Millennials in the Philippines are usually seen spending time online, watching YouTube videos.
5. Millennials in the Philippines do not usually read newspapers, instead, they have Google for information.
6. They have a short attention span but if you talk to them about the things that interest them, they are really one to
talk.
7. Millennials are characterized by different identities.
8. Who they are on social media may not necessarily be who they are in real life.
9. Millennials have the desire for recognition that gives way to so many extended helps during emergencies and
disasters.
10. They are more open in accepting all kinds of people no matter what color of their skin is, how they dress, or what
their religion is.
11. The Philippines has a unique history which influences and shapes the attitudes, beliefs, preferences, and value
systems of the Filipina millennials.
12. Filipino millennials still differ from other millennials in a sense that their personalities are still affected and
shaped by Philippine culture and society.
Fillenial Morality
1. Millennials are perceived by their elders as having rather tenuous grip on morality.
2. While they are open-minded with regard to issues, they are also seen as a little too sensitive when it comes to
reacting to socio-civic issues.
3. The use of social media through which to air their views has been considered by many as coward's way out.
4. The last thing a millennial wants to hear is to be told that he or she will be unable to do something.
5. Many millennials also do not seem to have a solid foundation for their future or even a sense of where to go next.
131673 CODE OF ETHICS
