Sm-2

In: Business and Management

Submitted By imsnjy
Words 321
Pages 2
Author has done an analysis of farfetched consequences of globalization from socio cultural point of view. He argues that multinational corporations are getting increasingly bigger and influential. These MNCs have overpowered national interests and their clout is so big that they can influence national policies and culture of a country. Globalization has led to synchronization of lifestyles across cultures around the world.
Belk rightly argues that globalization will commercialize everything from tourism to food to emotions of people. With the advancement of communication, media, internet, networking, lifestyles of people across cultures will get adapted to universal products and offerings by large multinational companies. It will create a global culture of consumerism where people in Bangladesh will smoke same brand as a US national irrespective his income and social environment. Marketing strategy has been so surreal that people consider such MNCs as the best, honest & perfect. Their everyday lifestyle is so much influenced by these notions that they lose their ability to differentiate between real and imaginary, a phenomenon called Hyperrealism.
As per author, Asian and African people’s memories still have mark of colonialism which makes them believe in superiority of US and European products.
Author has been successful in putting forward the world order post-globalization but his field of view has been limited. Globalization and MNCs have been largely targeting middle class and upper middle class. But there are 103 countries in world where more than 20% population lives below poverty line and homogenization of cultures into one seems utterly speculative. People with low disposable income don’t change their lifestyle but force marketer to provide them what they want. It can be seen from localization of multinational brands in developing countries like…...

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