Speaker 1
IntroductionGlobalization is the most significant event in modern society; it plays a vital role in the changes of several vital elements of society. Owing to the globalization, the perception for various matters rapidly changes. It has huge impact on human values, culture and society of United Arab Emirates. The globalization influence almost all sphere of human lives but the businesses in United Arab Emirates has witnessed most of its effect. It has both positive and negative effects and the debate on the positive as well as the negative effect of the globalization is become a hot topic for several individual, organizations, agencies as well as the government department, who are in the position for defending the attack of modern globalization trends. Here we have a interesting debate in this class on the merit of globalization; however, at the end of the debate we have to deal with the current situation, whether we dislike it or like it. We are in favor of the globalization; we support globalization because though it can be found that there is few adverse effect of globalization in United Arab Emirates, we can see there are several positive effects, which can be, shaded the negative effect of globalization. The positive effects of globalization are as follows:
Due the globalization, we can experience international transaction on daily basis and due to this the stock of foreign money mainly AED is increasing day by day, which has strengthen the United Arab Emirates’s economy
Currently the export as well as import business can be done even from the remote areas due to this the business opportunity is increasing and it will be possible even for the people of remote areas so that many new exporter and importer is coming in the market
Owing to the globalization, the businesses in UAE has been promoted via technology as well as e-business. With the help of modern technology and communication techniques, the business become easier and without any hectic business can be done internationally
The globalization omits the distance between the companies and the consumers currently the consumers as well as the companies has pull the market closer.
The globalization explore to the greater economic, political, cultural and technological dependencies between national and international institute as well as economics.
Globalization can be of market as well as of the production
The globalization of the market explore the UAE market to the consumer due to the globalization the consumer can buy their preferred goods from across the world
The companies can produce their product in United Arab Emirates where they can produce their product where they will get their product with minimum cost and maximum quality.
The globalization can reduce the cost of the market.
The globalization opens new market opportunities.
Increase the level of income.
With help of globalization, the company can access lower cost labor from across the world.
The company can access technical expertise from across the world.
The companies can access the production materials from across the globe, so that the better quality of production material with cheapest price can be obtained, which increase the profitability of the company.
The globalization supports the innovation , as well as it promotes technological innovation due this we are getting more advance technology, the communication technology is advancing rapidly which help in better control and the co-ordination, the shipping is now more dependable as well as efficient.
Speaker 2
Cross examination of opposing team position
Three points our opposing team has kept and pointing the weakness of their argument. The points can be crossed easily though. The positive side of globalization in United Arab Emirates and arguments for the discussion are as follows-
New risk- With expanding the business there is no risk involved as there is a high degree of diversification in the market and increasing amount of competition in the UAE market. Large markets bring certain amount of positive points like quality improvement in the business and business process. The profit is likely seen to have fluctuating rates bringing stability and predictability in businesses in United Arab Emirates.
Arguments for it- Globalization is about new opportunities increasing leverage and easy credit as the money flow is across the boundaries irrespective of local and national in United Arab Emirates. Globalization boosts the aggregate demand, increasing the income cycle and growth in financial condition of the firm. With huge amount of risk, a little risk can be adjusted.
Job creation- With expansion of business there will be creation of jobs in United Arab Emirates. The company would expand in United Arab Emirates, as more opportunities will be available in these areas (Rugman and Brewer, 2001). There will be more opportunity for United Arab Emirates as these companies willing to expand will prefer the developed countries.
Arguments for it- Expanding the business brings positive note for the company and the country. There is an increase in the wealth of the organization. The United Arab Emirates is already developed with the aspect of job and income groups of their population the new company cannot make a difference in the country like this. There is opportunity for the organization as well as the home country the company belongs too. Thus, the efficiency of the employees and the people associated with the organization increases.
Offer work good remunerations and other benefits- In the UAE, globalization will offer the change to works. They will be trained about the changes in management caused by globalization. In addition they will be better remunerated.
Arguments for it- With expansion and globalization the company gains a lot benefits and even the benefits are shared with UAE and its economy where the organization plans to expand. Globalization brings new advancement in the economy of the developing country and changes the shape of operations. Availability of cheap labor or workers is a benefit for the organization. United Arab Emirates has made laws to protect its people and look into the matter that they do not get exploit.
An example can be taken to support my team argument- A company dealing with fashion products wants to expand in the UAE market. As a developing country, it offers huge benefit to the organization as well as to the UAE economy. The organization gets opportunity to explore new market with new customers and a scope to increase its revenue. The UAE economy benefits by getting a new brand and new offers in the market in social point, gets new jobs opportunities in the market. The United Arab Emirates has laws, which are in favor of its people and to verify the exploitation of its people.
Speaker 3
Interactive question and answer periodWe are supporting globalization as the globalization has several positive effects on the business as well as economy of our country. Here there might be question that should the multinational companies be allowed to invest freely in the gulf region?
In my opinion that the multinational companies must be allowed to freely invest in the gulf region because as much as investment will came the development will happen, the infrastructure of the region will be improved. The job prospect will be increased so that it will open several opportunities to the people of that particular region. The prospects of local business also are increased. The living standard of the people of that particular region, where the investment happens is increasing. For this particular reason in my opinion, foreign investor must be allowed to invest freely in the gulf regions.
The second question that can be raised that whether production in one location is beneficial or the production in multiple locations is beneficial. In my opinion, multiple location production is beneficial for the company. The Company can access technical expertise from across several places where the company can easily access expert peoples. Who can serve the company in better way. The company can access the labors from across the globe, where the labors are more energetic as well as efficient with minimum cost. In these ways the companies can control the production cost and increase the profitability of the company. The company can access the production materials form the across the globe, so that availability of the materials are increasing. The companies can obtain the best quality of the production materials from across the globe. The materials are not available in all the places as well as the labor and expertise are also not available at the same category in everywhere. So that. If the companies have, several production houses in several locations the company easily access the entire facilities and due to these the productivity of the company is increasing. Several times, it can be found that in one location there are labor problems or happening some incidents due to this unrest the particular area, in that point of time if there is single production house of the company the production can be stopped. However, in multiple areas production house, the production is carrying on.
The opposing team argues that globalization is bad for the UAE however; in my opinion, globalization is good for UAE. The globalization increases the investment as well as enhances the standard of the labor. The economy of the UAE becomes more environmental friendly and open. Most of the companies concern is increasing about the future market as the competition are increasing rapidly. The poor people from the UAE are benefitted from the open economy; the UAE society is benefitted by globalization and supporting in spread of worldwide democracy. The globalization import good culture from other nation, it protects deep moral as well as cultural rules. Owing to the globalization specialize product and labor can be obtain.
Speaker 4
Conclusion and summary argument
Globalization is the most helpful concept for any organization big enough to survive the competition and expand its territory of businesses in United Arab Emirates. The financial crisis faced by United Arab Emirates together had harmed many of the economies of the developing countries and the most suffered in this period are the people of the countries. Globalization helps these nations to bring their economies into form and bring benefit from the opportunities they are getting. With globalization comes development in the areas like communication, technology, the industry or sector, etc. A company expanding in a particular country brings huge opportunities for the organization and the country. With growing opportunities in the United Arab Emirates industry, the market is growing too. Globalization brings efficient markets, wealth to the shareholders and the country equally, creates partnership between country and organization and innovative ideas in the market.
The opposition team’s points are not valid or not as important as their arguments are not so strong. They have argued on the new risks the organization has to take well in that case any business involves the same amount of risks for any organization, even operating in the home country. For example- Tesla Motors faced continues loss for the initial ten long years of its operation but in 2013, the company make profits and achieved a good position in the share market. This is a huge amount of risk any company can take to survive the market (O’Meara, Mehlinger and Newman, 2001).
The second point they had was on the job opportunity crisis of developed contries. Any organization willing to grow will have a tendency to leap a market growing and supporting the organization and its operation in order to have a balanced working environment. If the country had to put more capital and less of income generation, the company will not look for expanding in that area at all.
The third point the opposite team had, was on the exploitation of workers in the developing countries. Any country in today’s market will have laws to check the exploitation of the people of its own countries.
The arguments of my team are strong enough to support the argument.