Globalization is bringing a lot of advantages to the marketplace. One of the advantages is that you are no longer limited to selling your products or services in just your geographical area. Your customers can be located anywhere in the world.
Globalization and the Internet also allow doing business in new ways. For example, if you are an excellent teacher, you can record a video course and sell it to customers from all over the world through the Internet.
Unfortunately, when it comes to the issues of sustainability, globalization can do a lot of harm. Many of the large corporations are moving their plants and factories to countries with very few environmental laws and no environmental protection or oversight. As a result, the pollution and waste that these companies create may increase significantly. In many countries where such corporations move, people still get their food from farming, fishing and hunting activities. When a corporation builds a large factory, the factory can take the ability to farm or fish away from the people.
Another size of globalization is that it is easier than ever to move between places. Partly because of this, the population of our planet is increasing rapidly and more and more people are using limited natural resources such as water, forests, fuel and fertile lands.
Creating meaningful policies that promote and require sustainable practices is critical to the survival of our planet. It is also possible to make money while promoting sustainability, which is something that businesses need to be thinking about more.
For example, solar-powered water purifiers are a product needed in many countries and areas. Sectors such as microfinance and microinsurance can stimulate the economies of developing countries and help them do better. When businesses commit to sustainability, their employees often come with new ideas that have answers to the challenges of globalization.