When discussing the drawbacks and benefits of globalization, essays tend to be on the longer side. The example below is a brief exploration of this complex subject. Learn more in this concise globalization pros and cons essay. Introduction In today’s world, globalization is a process that affects all aspects of people’s lives. It also has a crucial impact on businesses and governments as it provides opportunities for development while causing significant challenges. This paper discusses the advantages and disadvantages of globalization using the evidence from academic sources. The report suggests the ways governments and companies may implement to reduce the negative impact of the process as well. Benefits and Drawbacks of Globalization Globalization is a complex concept that can be defined by the process of interaction between organizations, businesses, and people on an international scale, which is driven by international trade. Some people may associate it with uniformity, while others can perceive it as the cause of diversification. The reason for such a difference in public opinions is that globalization has both advantages and disadvantages that should be analyzed. The most significant positive aspects of globalization include global economic growth, the elimination of barriers between nations, and the establishment of competition between countries, which can potentially lead to a decrease in prices. Globalization supports free trade, creates jobs, and helps societies to become more tolerant towards each other. In addition, this process may increase the speed of financial and commercial operations, as well as reduce the isolation of poor populations (Burlacu, Gutu, & Matei, 2018; Amavilah, Asongu, & Andrés, 2017). The disadvantages of globalization are that it causes the transfer of job from developed to lower cost countries, a decrease in the national intellectual potential, the exploitation of labor, and security deficit. Moreover, globalization leads to ecology deficiency (Ramsfield, Bentz, Faccoli, Jactel, & Brockerhoff, 2016). In addition, this process may result in multinational corporations influencing political decisions and offering unfair working conditions to their employees. Reducing Negative Effects Firms and governments can work on eliminating the negative effects of globalization in the following ways. For example, countries should work on microeconomic policies, such as enhancing opportunities for education and career training, as well as establishing less rigid labor markets. In addition, governments can build the necessary institutional infrastructure to initiate economic growth. To solve the problem of poor working conditions, it is vital to establish strict policies regarding minimum wages and the working environment for employees. A decrease in the national intellectual potential may be addressed through offering a broad range of career opportunities with competitive salaries, as well as educating future professionals on how their skills can solve problems on the local level. Companies, in their turn, may invest in technologies, which may lead to more flexible energy infrastructure, lower production costs, and decrease carbon emissions. They can also establish strong corp