Academic literature commonly subdivides

GLOBALIZATION globalization into 3 major areas:

 Process by which the world, previously 1. Economic globalization
isolated through physical and technological 2. Cultural/ social globalization
distance, becomes increasingly 3. Political globalization
interconnected.
 Manifested by the increase in interaction
between people around the world that I. ECONOMIC GLOBALIZATION
involves the sharing of ideas, cultures,  It refers to the widespread international
goods, services, economic, political, movement of goods, capital, services,
cultural, ideological, investment technology and information.
environment and processes aided by IT.  Economic globalization primarily comprises
GLOBALIZATION: A CONTESTED CONCEPT the globalization of:
1. Production
 Globalization first appeared in the 1940s, 2. Finance
but did not gain widespread traction until 3. Markets
the 1990s. 4. Technology
 It is sometimes mistaken for an unstoppable 5. Organizational
juggernaut ‘Americanizing’ the world. 6. Regimes
 However, a more nuanced understanding of 7. Institutions
the interactions between the local, national, 8. Corporations
regional, and global. Indiscriminate use of 9. Labour
the word ‘globalization’ is confusing.  The economic globalization is one most
 Globalization is a set of social processes often mentioned in the media.
that lead to the social condition of  It is associated with massive amounts of
globality, through the growing financial traded daily on the different stock
consciousness of global connectivity. markets around the label “NEW
 There is no consensus on exactly what ECONOMY”.
processes constitute globalization, but  In order to monitor the economy,
common themes include the creation of 3 economic institutions were created:
networks, expansion of social relations, 1. THE INTERNATIONAL MONITARY
and the acceleration of social exchange. FUND (IMF) --would oversee the
GLOBALIZATION AND HISTORY: IS GLOBALIZATION international monetary system;
A NEW PHENOMENON? 2. The International Banks for
Reconstruction and Development
 Globalization is commonly thought of as a (IBRD later named the WORLD
new phenomenon, but contact between BANK (WB) -- would provide loans
diverse individuals is not new. for European reconstruction but
 It began when prehistoric tribes settled and later expanded its activities to the
were able to outmuscle wandering tribes. developing world;
 The premodern period saw technological 3. The General Agreement on Tariffs
advances that allowed trade and and Trade (GATT, renamed of the
communication to flourish. WORLD TRADE ORGANIZATION in
 The early modern period saw the birth of 1992) –would oversee multilateral
capitalism and regional markets. trade agreements.
 The modern period saw the Industrial
Revolution provide massive advances in For about 30 years, this system
technology at the expense of the remained in place and provided
environment. economic stability and prosperity to
 The contemporary era is an era of Western nations.
convergence, with people coming together THE ECONOMIC DIMENSION OF GLOBALIZATION
through deregulated economic and ICT
Systems.  In the 1980s neoliberalism liberalized
financial transactions.
3 COMPONENTS OF ECONOMIC GLOBALIZATION
 However, this unstable growth led to the consumption is an important aspect
Great Financial Crash, where banks traded of culture and most societies
toxic assets without regulation. around the world have diets that
 Transnational corporations rival nation- are unique to them, however the
states in economic power, and have had a cultural globalization of food has
profound effect on the structure and been promoted by fast food giants
function of the global economy. such as McDonald’s, Coca-Cola and
 The Washington Consensus was drafted to Starbucks.
reform indebted developing countries, but  The spread of these global food
it has thus far rarely helped countries corporations has arguably led to the
develop. decline of local diets and eating
 The economic dimension of globalization’ traditions.
explores how the way people have 2. THE GLOBALIZATION OF SPORT is
undertaken economic production has another fairly obvious example of
changed. cultural globalization – think of all the
 The global economic order emerged after international sporting events that take
World War II, when the Bretton Woods place – most notably the World Cup
Conference laid the foundations for the and The Olympics, and Formula 1,
IMF, World Bank, and WTO. which bind millions together in a
shared, truly global, ‘leisure
experience’.
II. CULTURAL GLOBALIZATION 3. CONVERGING GLOBAL CONSUMPTION
 Rapid transmission of ideas, meanings, and PATTERNS – today you can go to pretty
values & cultural products across around much any major city in the world and
the world in such a way as to extend and share in a similar ‘consumption
intensify social relations. experience’.
 This process is marked by the common  Also, more and more people in Asia and
consumption of mono-cultures that have South-America are coming to enjoy high-
been diffused by the Internet, popular consumption lifestyles like in the West –
culture media, and international travel, car ownership and tourism are both on the
entertainment transnational marketing of increase globally for example.
particular brands and international tourism  Central to this is the growth of similar styles
– that transcends local cultural traditions of shopping malls, and leisure parks which
and lifestyles, and that shapes the provide a homogeneous cultural
perceptions, aspirations, tastes and experience in different regions across the
everyday activities of people wherever they world.
may live in the world’.  HOMOGENEITY comes to a society in a
numbers of ways- ethnically(Japanese),
1. MIGRATION is an important aspect of religiously(many Arab nationals),
cultural globalization. culturally(Indians), politically(communism)
 This process has been going on for etc.
several centuries, with languages,  Study has shown that the most prominent
religious beliefs, and values being type of homogeneity is ethnicity, where
spread by military conquest, everybody share similar physiological
missionary work, and trade. characteristics and cultural behavior .
 However, in the last 30 years, the  Ethnic homogeneity still strong among
process of cultural globalization has many aboriginal groups in USA, Latin
dramatically intensified due countries, China, Japan, South Asia and
technological advances in both Africa.
transportation and communications  FINANCIAL HOMOGENEITY also exists in
technology. many countries. It was prevalent in many
 THE GLOBALIZATION OF FOOD is communist countries-this type of
one of the most obvious examples homogenous society is in decline now-a
of cultural globalization – food day.
 North Korea is a great example of financial  However, advocates say that globalization
homogenity, at extreme level, another good reinvigorates niche cultures instead of
example is Scandivian countries, where the eliminating them.
government make sure that every citizen of  The existence of the global imaginary is
their country enjoy high level of living linked to the rise of global media networks.
standards.  These networks are owned by a small group
 THE GLOBAL VILLAGE/ GLOBAL of transnational corporations, which can
CONSCIOUSNESS-- Individuals and families affect journalistic integrity.
are now more directly plugged into news  Several different hypotheses exist about the
from the outside world – some of the most effects of languange globalization.
gripping events of the past decade have  Some say that it leads to protection of
unfolded in real time in front of a global native tongues.
audience.  On the other hand, some foresee
 According to Giddens this means that more the rise of a ‘Globish’ language.
and more people have a more ‘global
III. POLITICAL GLOBALIZATION
outlook’ and increasingly identify with a
global audience – for example, television  It refers to the growthof the worldwide
reporting of natural disasters in developing  political system, both in size and
countries result in people in wealthier complexity.
countries donating money to charities such  It includes:
as Oxfam to assist with relief efforts. 1. national governments,
Giddens developed the concept of 2. their governmental and
“Cosmopolitanism” to describe this process 3. intergovernmental organizations
of an emerging global identity. 4. government-independent elements
 DETRADITIONALISATION--In his classic of global civil society such as:
1999 text, Runaway World, Anthony a. international non-governmental
Giddens argues that one consequence of organizations
globalization is detraditionalisation – where b. social movement organizations.
people question their traditional beliefs
The Political Dimension of Globalization
about religion, marriage, and gender roles
and so on.  ‘The political dimension of globalization’
 GLOBAL RISKS/ GLOBAL RISK looks at political arrangements beyond the
CONSCIOUSNESS—Ulrich Beck (1992) nation-state.
argues that a fundamental feature of  Traditional politics harboured an ‘us’ and
globalization is the development of a global ‘them’ mentality.
risk consciousness, which emerges due to  Contemporary globalization has led to a
shared global problems which threaten permeation of those borders.
people in multiple countries  The modern nation-state came into being
Example: after the Protestant Reformation,
 the threat of terrorism, characterized by centralized government
 international nuclear war and self-determination.
 the threat of global pandemics  The rise of organizations such as the United
 the rise of organized crime funded Nations has threatened the nation-state,
primarily through international drug according to globalization sceptics.
trafficking  However, national governments still hold
 the threat of planetary melt-down significant powers.
due to global warming.  There has been a rise in the number of
 The cultural dimension of globalization’ supra-territorial institutions, operating
explores the intensification and expansion from the local level all the way to the global
of cultural flows across the globe. level.
 Critics of cultural globalization claim that  Some commentators ultimately see a global
the world is being homogenized or civil society, although critics question the
‘Americanized’. feasibility of this.
  One of the key aspects of the political  It is the most important export
globalization is the declining importance of destination for one-fifth of countries
the nation-state and the rise of other around the world.
actors on the political scene.
FOREIGN DIRECT INVESTMENT
 The creation and existence of the United
Nations has been called one of the classic
examples of political globalization.
UNITED NATIONS AND ITS ROLE IN GLOBALIZATION
 It is an international organization created
on 24th October of 1945 when the UN
charter was signed.
 MAIN OBJECTIVES ARE:
1. to maintain international peace and
security and
2. promoting human rights and global
CHANGING STRUCTURE: GLOBAL ECONOMY
development.
 Since the end of World War II, the global
MEMBER STATES OF THE UNITED NATIONS
economy has steadily increased its trade
 The United Nations member states are the and financial openness, enabled in part by
193 sovereign states that are members of the International Monetary Fund (IMF), the
the United Nations (UN) and have equal World Bank, and the General Agreement on
representation in the UN General Assembly Tariffs and Trade (GATT), now the World Trade
and 51 founding countries. Organization (WTO).
 The UN is the world's largest  In parallel, colonialism, with its inherent
intergovernmental organization which is constraints on economic development and
based in New York (Headquarter). its built-in asymmetries, collapsed.
 As formal barriers to trade and capital flows
STRUCTURES: GLOBAL ECONOMY declined, a number of other trends
I. WHAT IS GLOBAL ECONOMY? combined to accelerate the growth and
 The world economy or global economy structural changes in the developing
is the economy of the humans of the economies.
world, considered as the international  They included:
exchange of goods and services that is 1. Advances in transportation and
expressed in monetary units of account. communications technology
 Typical EXAMPLES of economic 2. Management innovation in
globalization are the global supply multinational companies
chains now standard for the 3. A process of learning about doing
manufacture of many devices, ranging business in multiple and diverse
from cars to smart phones; the environments
processes surrounding raw materials, 4. Integration of multinational supply
components, and assembly may take chains
place across multiple countries.  The shape of global supply chains is
II. IMPORTANCE OF GLOBAL ECONOMY constantly shifting.
 Because of its size and  Countries enter and engage with the global
interconnectedness, developments in economy at different times and expand at
the US economy are bound to have different rates.
important effects around the world.
 The US has the world’s single largest
economy, accounting for almost a
quarter of global GDP (at market
exchange rates), one-fifth of global FDI,
and more than a third of stock market
capitalization.
  The early high-growth economies— Japan, Netherlands, Hong Kong, Germany, Taiwan,
South Korea, and Taiwan— initially Thailand.
exported labor-intensive products, then  The Philippines has been named as one of
graduated to more capital-intensive the Tiger Cub Economies together with
products such as automobiles and Indonesia, and Thailand.
motorcycles, and then to human capital
PHILIPPINES: ECONOMIC TRANSITION
intensive activities such as design and
technology development.
DO CHANGING STRUCTURE OF THE GLOBAL
ECONOMY AFFECT THE PHILIPPINES?
What kind of economy is the Philippines?
 The Philippines has a mixed economic
system which includes a variety of private
freedom, combined with centralized
economic planning and government
regulation.
 Philippines is a member of the Asia- Pacific
Economic Cooperation (APEC) and the
WORLD BANK FORECASTS, SELECTED ASIAN
Association of Southeast Asian Nations
ECONOMIES
(ASEAN).
PHILIPPINES: COMPETING IN GLOBAL ECONOMY
 The economy of the Philippines is the
world's 34th largest economy by nominal
GDP according to the 2017 estimate of the
International Monetary Fund's statistics, it
is the 13th largest economy in Asia, and the World Bank: Global Economy to Recover in 2017,
3rd largest economy in the ASEAN after Led by India, Philippines, China and Vietnam
Indonesia and Thailand.
STRUCTURES: MARKET INTEGRATION
 The Philippines is one of the emerging
markets and is the sixth richest in  Global market integration means that price
Southeast Asia by GDP per capita values, differences between countries are
after the regional countries of Singapore, eliminated as all markets become one.
Brunei, Malaysia, Thailand and Indonesia.  One way to the progress of globalization is
to look at trends how prices converge or
PHILIPPINES: NEW INDUSTRIALIZED COUNTRY
become similar across countries.
 The Philippines is primarily considered a
THE LAW OF ONE PRICE
new industrialized country, which has an
economy in transition from one based on  states that the prices of identical security,
agriculture to one based more on services commodities or asset traded anywhere that
and manufacturing. are exchanged in two or more markets
 As of 2017, GDP by purchasing power parity must be the same regardless of location
was estimated to be at $1.980 trillion. and currency.
 In an efficient market, there must be only
PHILIPPINES: A TIGER CUB IN ECONOMIC
one price for commodities regardless of
GLOBALIZATION
where they are traded. Identical goods
 Primary exports include semiconductors must have identical prices.
and electronic products, transport  For EXAMPLE, an ounce of gold must have
equipment, garments, copper products, the same price expressed in terms of
petroleum products, coconut oil, and fruits. dollars in London as it does in Tokyo.
 Major trading partners include Japan, China,  The law of one price is a variation of
the United States, Singapore, South Korea, Purchasing Power Parity that relates to a
 single commodity as opposed to a basket of  Where macroeconomics looks at the big
goods. picture of the economy, microeconomics
 This theory postulates that the difference in looks at the individual behaviors that drive
prices for identical commodities in two economic processes.
countries is due to the foreign exchange  Examples of Microeconomics
(FX) rate between the two countries. 1. Demand
2. Supply
MARKET INTEGRATION IN 21ST CENTURY
3. Prices
 Globalization—the integration of people 4. Elasticity
with world markets—is perhaps the most 5. Opportunity cost
significant and pervasive economic 6. Labor economics
development of the late 20th and early 7. Competition
21st Centuries. 8. Competitive advantage
 It is the subject of a small but growing 9. Consumer choice
body of empirical economic research at the 10. Consumer confidence
national and multi-national levels. 11. Business confidence
 In economics research, globalization means 12. Information economics
trade integration. 13. Welfare economics
 As market liberalization and trade 14. Productivity
integration climb to the top of the  Microeconomics Demand
economic policy agenda in may countries, How demand for goods is influenced by
development economists increasingly focus income, preferences, prices and other
their attention on market imperfections factors such as expectations.
that may inhibit trade and create welfare  Microeconomics Supply
losses. How producers decide to enter markets,
 As economic integration unfolds, producers scale production and exit markets.
become inserted directly into global  Microeconomics Prices
markets on the output side, through How individuals, households and firms
production of exports, and/or on the input react to prices and influence prices with
side, through imported intermediate inputs, their supply and demand.
technologies, or factors. For EXAMPLE, the observation that some
 Migration is the principal mechanism by customary prices appear to be sticky in that
which households in less developed consumers resist buying above a particular
countries (LDCs), especially in rural areas, historically established price.
become directly inserted into the global  Microeconomics Elasticity
economy. How supply and demand reacts to change.
 MIGRATION- Globalization is not For example, a household that demands
internationalization, but the effective erasure less of a good when the price increases due
of national boundaries-opening the way not to the availability of substitutes.
only to free mobility of capital and goods but  Microeconomics Opportunity Cost
also, in effect, to free movement (or The tradeoffs that individuals and firms
uncontrolled migration) of vast labor tools from
make to manage constrained resources
regions of rapid population growth and the
such as time, money, capital and land.
impacts on national economies could be tragic.
EXAMPLE, you spend time and money going
MARKET INTEGRATION: MICROECONOMICS to a movie, you cannot spend that time at
home reading a book, and you can't spend
 MICROECONOMICS OF GLOBALIZATION”
the money on something else.
refers also to the myriad ways in which
 Microeconomics Labor Economics
economic actors also may become inserted
Modeling the supply and demand for labor.
into the global economy indirectly, through
Focus on human capital (referring to the
their relations with other economic agents
skills that workers possess, not necessarily
within local, regional, and national markets.
their actual work).
 It is the study of the economic behavior of
individuals, households and firms.
 For EXAMPLE, looking at how expectations upon opinion surveys on developments in
for economic growth impact the labour production, orders and stocks of finished
participation rate.. goods in the industry sector.
 Microeconomics Competition
3 BASIC KINDS OF MARKET INTEGRATION
Modelling competition in markets.
3 types of competition 1. HORIZONTAL INTEGRATION
1. Direct competitiors  This occurs when a firm or agency gains
2. Indirect competitors control of other firms or agencies
3. Phantom competitiors performing similar marketing functions at
the same level in the marketing sequence.
For examples, the use of game theory to
 This type of integration sometimes
model a price war between competitors.
combine agencies to form a union with a
 Microeconomics Competitive Advantage view to reduce their effective number and
Competitive advantage is the ability of the extent of actual competition in the
certain firms to outcompete all competition market.
in a particular area. EXAMPLE:
3 Tips to Determine Your Competitive
Advantage
1. Price
2. Product
3. Customer experience Two or more companies produce the same
For EXAMPLE, a sporting goods company goods or services It is also known as horizontal
with superior brand recognition and a merger
positive brand image that can charge
premium prices and still enjoy high demand EFFECTS OF HORIZONTAL INTEGRATION
for its products.  Buying out competitor in a time bound way
 Microeconomics Consumer Choice to reduce competition.
How needs, perceptions and information  Gaining larger share of the market and
shape consumer choices. higher profits
2 influences on a person’s consumption  Attaining economies of scale
choice:  Specializing in trade
1. Their income ADVANTAGE OF HORIZONTAL INTEGRATION
2. Prices of the goods 1. Lower cost
2. Higher efficiency
For example, the idea that consumers 3. Increased differentiation
maximize their expected utility of purchases 4. Increased market power
meaning that they buy the things they 5. Reduced competition
expect to be most useful to them. 6. Economics of scale
 Microeconomics Consumer Confidence 7. Economic of scopes
How consumer expectations for the future 8. International trade
influence spending, saving, investment and DISADVANTAGE OF HORIZONTAL
labor participation. INTEGRATION
Is an economic indicator that measures the
degree of optimism that consumers feel 1. Destroyed value
about the overall state of the economy and 2. Legal repercussions
their personal financial situation. 3. Reduced flexibility
EXAMPLE, When consumer confidence is
high, consumers make more purchases.
 Microeconomics Business Confidence 2. VERTICAL INTEGRATION
How producer expectations for the future  Occurs when a firm performs more than
influence hiring, capital investment and one activity in the sequence of the market
supply. process.
Business confidence index (BCI) -provides
information on future developments, based
 Linking together of 2 or more functions in EXAMPLE: when a processing firm assumes the
the marketing process within a single firm function of assembling/purchasing the product
or under a single ownership. from the villages.
 Makes possible to exercise control over
III. BALANCED VERTICAL INTEGRATION
both quality and quantity of the product
from the beginning of the production The third type of vertical integration is a
process until the products is ready for the combination of the backward and the forward
consumer. vertical integration
 Reduces the number of middle men in the
marketing channel.
 EXAMPLE:


3 BASIC KINDS OF MARKET INTEGRATION

1. CONGLOMERATION
 A combination of agencies or activities
Apple Inc. is one of the best-known not directly related to each other may,
companies for perfecting the art of vertical when it operates under a unified
integration. management.
The company manufactures its custom A-  A process whereby a business acquires a
series chips for its iPhones and iPads. It also substantial number of other unrelated
manufactures its custom touch ID businesses in order to form a large and
fingerprint sensor. highly diversified corporation.
The company has also integrated forward  EXAMPLE: the merger between the
as much as backward. Walt Disney Company and the
American Broadcasting Company.
I. FORWARD INTEGRATION Because a conglomerate merger is one
between two strategically unrelated
a firm assumes another function of marketing
firms, it is unlikely that the economic
which is closer to the consumption function.
benefits will be generated for the target
EXAMPLE: wholesaler assuming the function of or the bidder.
retailing.  EXAMPLE OF CONGLOMERATE
INTEGRATION DIAGRAM
Example of vertical integration diagram

II. BACKWARD INTEGRATION

REASONS FOR THE MARKET INTEGRATION
This involves ownership or a combination of
sources of supply.  To remove transaction cost
  Foster competition  The definition of the theory refers to the
 Provide better signals for optimal division of labor, be it inter- regionally or
generation and consumption decisions transnationally.
 Improve security of supply  Currently, the theory divides the world into
the core, semi-periphery and periphery
GLOBAL INTERSTATE SYSTEM
countries
 The modern world-system is now a global
economy with a global political system (the
modern interstate system).
 Refers to the relationship between diff.
state union.
 It also includes all the cultural aspects and
interaction networks of the human
population.
IMPORTANCE OF GLOBAL INTERSTATE SYSTEM
 A hegemon is a core state that has a
significantly greater amount of economic
power than any other state, and that takes
on the political role of system leader.
 World-systems are whole systems of
GLOBAL INTERSTATE SYSTEM: THE DEVELOPMENT
interacting polities and settlements.
OF WORLD-SYSTEMS
 Systems means that these polities and
 The world-systems perspective emerged settlements are interacting with one
during the world revolution of 1968 and the another in important ways- interactions are
anti-war movement that produced a two-way, necessary, structured, regularized
generation of scholars who saw the peoples and reproductive.
of Global South (then called the “Third
CORE NATIONS
World”) as more than an underdeveloped
backwater.  Core nations appear to be powerful,
 It became widely understood that a global wealthy and highly independent of
power structure existed and that the people outside control.
of the non-core had been active  They are able to deal with bureaucracies
participants in their own liberation. effectively; they have powerful
 The history of colonialism and militaries and can boast with strong
decolonization were seen to have economies.
importantly shaped the structures and  Due to resources that are available to
institutions of the whole global system. them (mainly intellectual), they are able
 A more profound awareness of to be at the forefront of technological
Eurocentrism was accompanied by the progress and have a significant
realization that most national histories had influence on less developed non-core
been written as if each country were on the nations.
moon.  high income
 The nation state as an inviolate, pristine  Industrialized
unit of analysis was now seen to be an  Control Global markets
inadequate model for the sociology of  Have skilled laborforce
development.  Need labor and natural resources from
periphery and semiperiphery nations
THE WORLD-SYSTEMS THEORY
 US, CANADA, MUCH OF WESTERN AND
 World-systems theory is a macro-scale NORTHERN EUROPE, AUSTRALIA, AND
approach to analyzing the world history of JAPAN
the mankind and social changes in different
countries.
  The emerging field of global governance
has produced a number of breakthroughs,
SEMI-PERIPHERAL NATIONS
as well as failures, aimed at managing
 These regions have a less developed global problems through the voluntary ans
economy and are not dominant in the ad hoc cooperation of a diverse range of
international trade. international actors.
 u In terms of their influence on the world
IS THERE A NEED FOR GLOBAL GOVERNANCE?
economies, they end up midway between
the core and periphery countries.  Global governance is necessary because
 u However, they strive to get into a humanity increasingly faces both problems
dominant position of the core nation, and it and opportunities that are global in scale.
was proved historically that it is possible to  Today, transnational problems such as
gain major influence in the world and violence and pandemics routinely reach
become a core country. across borders, affecting us all.
 middle income  The most important challenge for humanity
 industrializing to overcome is that of existential risks.
 mostly capitalist
IS GLOBAL GOVERNANCE MULTI FACETED?
 Share characteristics of core and periphery
countries  Global Governnace aims to prepare
 moving toward becoming core nations professionals to face global challenges that
 CHINA, INDIA, MEXICO, BRAZIL, SOUTH require specific legal and economic
AFRICA AND ISRAEL competencies, as well as a wide range of
technical knowledge and skills to manage
PERIPHERAL NATIONS
cultural mediations.
 These are the nations that are the least  This is why global governnace is multi-
economically developed. faceted.
 One of the main reasons for their peripheral
WHAT ARE THE FORMS OF GLOBAL GOVERNNACE?
status is the high percentage of
uneducated people who can mainly provide Rosenau discusses these 6 types of global
cheap unskilled labor to the core nations. governnace?
 There is a very high level of social
1. top-down governance,
inequality, together with a relatively weak
2. bottom-up governance,
government which is unable to control
3. market governance,
country’s economic activity and the
4. network governance,
extensive influence of the core nations.
5. side-by-side governance
 Low income
6. complex web governance
 less skilled labor force
 export labor and natural resources TOP-DOWN GOVERNNACE
 need investment from other countries
 top-down approach to governance
 MUCH OF SUB-SAHARAN AFRICA,
presents a clear divide between top-level
SOUTHEAST ASIA, SOME NATIONS IN
policy formulation and the subsequent
CENTRAL AND SOUTH AMERICA
implementation of these preset goals by
CONCEPT OF GLOBAL GOVERNANCE administrators and service providers.
 The process of enacting policy is viewed as
 Global governance or world governance is a
an implementation chain where links must
movement towards political cooperation
be forged between various agencies.
among transnational actors, aimed at
negotiating responses to problems that BOTTOM-UP GOVERNANCE
affect more than one state or region.
 The bottom-up implementation approach
ROLE OF GLOBAL GOVERNANCE initiates with the target groups and service
deliverers, because they find that the
 Trade, climatechangeand the role of
target groups are the actual implementors
values in global governance.
of policy.
  The top-down implementation approach is
a clear-cut system of command and control
—from the government to the project,
which concerns the people.
BOTTOM-UP GOVERNANCE DIAGRAM COMPLEX WEB GOVERNNACE
 Web governance is the process of
maintaining and managing an online
presence in an organized way.
 The idea is to set certain standards for your
website and hold yourself to them.
 That can include both your own
organization’s standards and external
regulations or compliance standards, such
as WCAG 2.1 web accessibility standards.
 The ultimate goal is to provide the best
user experience possible for your website
visitors by ensuring quality, consistency,
accessibility, searchability, and more.

MARKET GOVERNANCE
 Market governnace mechanisms (MGMs)
are formal, or informal rules, that have
been consciously designed to change the
behavior of various economic actors.
 This includes actors such as individuals,
businesses, organisations and governments-
who in turn encourage sustainable
development.

NETWORK GOVERNANCE
 Network governance is "interfirm
coordination” that is characterized by
organic or informal social system, in
contrast to bureaucratic structures within
firms and formal contractual relationships
between them.