It is mostly being presented as a phenomenon explaining the sizes of international, global or world markets. A textbook example of a globalized company that stretches throughout the world is Procter & Gamble, even though there are many examples of globalized companies and products. Globalization is being overestimated and people often think that globalization is more wide spread than it really is yet quite the opposite of what the people think about globalization is true as proven by several documents and statistics.
The nickname that many people use when talking about this phenomenon is “globaloney”. Many statistics serve as supporting evidence; a well-known example is the number of telephone calls. People tend to use phones to call people internationally; they don’t limit their habits to local calls. Based on this one fact people often overestimate the percentage of calls made locally and internationally, therefore globally. One particular statistic used a graph to demonstrate that the percentage of international phone calls was only about 2% yet when asked to guess people were inclined to think the numbers multiplied quite significantly. The majority estimated this increase to be around 30% instead of the actual 2%. It is therefore quite essential to understand the human tendency to overestimate globalization since there is a major difference between a 2% and 30% increase.
Another factor feeding globaloney is the fact that all the countries in the world have one major exporter. Several statistics prove that a similar or identical language matters more than geographical proximity when it comes to exports as it is in case of neighboring countries. Globaloney is a hot topic to discuss nowadays because it is all around us and people still tend to overestimate globalization even more feverishly than before. It remains controversial if globalization is in fact overestimated as much as it appears, but as many companies’ exports or statistics show, as discussed on the case of local and international phone calls, globalization is overestimated to a certain extent as the term globaloney suggests.
My personal view on globalization in its current form is clear – I consider it pretty much overestimated in communities around the world and I think that phone calls, television programs and websites aren’t as globalized as they may seem. Even though globalization might be overestimated at the moment I nevertheless believe it to be the future of our world. All companies, organizations, products and anything else will tend to globalize in the future along with this trend and it can be a head start for anyone in the far or even near future as more and more organizations globalize.
This is the way that can help many types of products and services around the world to expand into global markets and thrive. Globalization continues to be overestimated in spite of that and I don’t expect much to change about in the near future until people understand the way globalization framework principle works.