Globalization and Identity Vocabulary Globalization and Identity Vocabulary Economic Globalization

Economic Globalization

• Transnational/Multinational Corporation: Business operating in multiple countries with a headquarters in one location.

• Retail Operation: Direct sale of goods/services to consumers.

• Big Box Store: Large retailers, e.g., Walmart, known for low prices.

• Downsizing: Reducing company size by cutting jobs/divisions.

• Outsourcing: Hiring external companies to lower costs.

• Opening Price Point: Lowest price offered for products to attract customers.

• Interdependent: Reliance between countries or businesses for goods/services.

• Monopoly: One company dominating a market, eliminating competition.

Social Globalization

• Medium: Channels of communication like the internet.

• Media Concentration: Ownership of media by few corporations limiting diversity.

• Media Convergence: Merging of various media types.

• Propaganda: Biased information promoting a cause.

• G8: Group of eight major economic powers discussing policies.

• Pop Culture: Popular trends accepted by the public.

• Universalization: Global spread of cultures and ideas.

• Homogenization: Cultures becoming similar due to globalization.

• Digital Divide: Disparity in access to digital technology.

• Acculturation: Adoption of cultural traits from another group.

• Hybridization: Blending of cultural elements.

• Accommodation: Adjusting for cultural differences.

• Integration: Combining groups while respecting identities.

• Urbanization: Movement from rural areas to cities.

• Cultural Revitalization: Efforts to promote and preserve cultural traditions.

• Ethnocentrism: Belief in the superiority of one's culture.

• Americanization: Spread of American culture globally.

Political Globalization

• Democracy: Governance by elected representatives.

• Network: Interconnected people or organizations sharing resources.

• Smart Mobbing: Using social media for swift organization of protests.

• Dissent: Expressing differing opinions.

• Civil Disobedience: Nonviolent law refusal for social change.

• Interconnectedness: Global relationships among people and groups.