Credit Score and Globalization Essay

Submitted By rossalis
Words: 680
Pages: 3
Open Document
Globalization

Globalization has become a large part of the world especially in present day. Things like the economy, communication, medicine, and much more are affected by globalization both positively and sometimes negatively as well. More recently technology has spread across the world like wildfire. There are many negative aspects to how technology has been spread globally but there are positives that will shock you. In an article called Ubiquitous Across Globe, Cellphones Have Become Tool for Doing Good, by Esha Chhabra, a writer for New York Times writes about how the spread of the use of cellphones globally is actually saving, and changing lives. The article includes information about a company that was created by college students that allows people in third world countries to find fresh water. Chhabra states, “The World Health Organization estimates that more than 700 million people do not have access to clean drinking water and over 2.5 billion have no access to toilets. Yet according to the International Telecommunications Union, 96 percent of the world is connected via cellphone — which is why it has become a means of doing good” (nytimes.com). With this knowledge, students have created a system, like an application on an iPhone, with very cheap cellphones, where people can find fresh water within walking distant from them. Chhabra writes, “..graduate students at Stanford University developed software, M-Maji, to map clean water stations in Kibera, Kenya, a dense urban slum in Nairobi” (nytimes.com). She relates the system to the Gas Buddy App which helps people find the closest, and cheapest gas by using their phones. This is just the first positive outcome of the globalization of cellphones. It does not end here. The next positive outcome Chhabra speaks about is a credit score company for the poor. Chhabra writes, “Shivani Siroya, an advocate and entrepreneur who splits her time between Los Angeles and Mumbai, is using mobiles to create “credit scores” for the poor. Ms. Siroya took inspiration from the free personal finance management site Mint.com to create a tool for customers in southern India without bank accounts or financial histories” (nytimes.com). Siroya sells her product to different companies who want to promote the 400 million unbanked citizens in India. The person uses the cell phone to log in their daily expenses through a text message, which creates a financial record. Chhabra writes, “Since starting the enterprise in 2010, she has collected 614,426 financial records and expanded to South Africa and Kenya. Her “company” is a hybrid model: a mix of private capital and grants, including $100,000 each from the Vodafone Americas Foundation, the philanthropic arm of the telecom giant Vodafone, and the United States Agency for International Development” (nytimes.com).
Show More

Related Documents: Credit Score and Globalization Essay

Organizational Behavior Forces Essay

offers full benefits to both full and part time employees. The Walmart salary is low, but the benefits offered attract individuals to the organization. Victoria’s Secret offers an in house credit card for customers. This credit card can be used online or at brick and mortar locations. Offering in house credit allows Victoria’s Secret to attract new customers that may be cash poor. All organizations adapt fiscal policies to the changing economy in an attempt to remain competitive. Competition…

Words 960 - Pages 4

AP WOR S1 05 02 GA Essay

Name: David W. Smith Date: 07/13/15 Graded Assignment Change-Over-Time: The Silk Road Submit this assignment to your teacher by the due date to receive full credit. (45 points) 1. Analyze the continuities and changes in globalization patterns that resulted from trade on the Silk Roads from 200 B.C.E. to 1450 C.E. Answer: During the period of time between 200 B.C.E. and 1450 C.E., the Silk Road underwent many subtle transformations while at the same time remaining as a major fact of life in the trading…

Words 1227 - Pages 5

Credit Risk Management In The Financial Markets

ISSN: 1792-6580 (print version), 1792-6599 (online) Scienpress Ltd, 2014 Credit Risk Management in the Financial Markets Mehmet Nar 1 Abstract The main task of the financial system is to ensure the flow of resources from sectors with an excess of funds to those with a gap in funds. The developments of the past twenty years in particular, have paved the way for new turnovers in the field of finance and with the globalization phenomenon, foreign capital flows are transported rapidly to the farthest…

Words 7482 - Pages 30

Essay on Doctor of Philosophy and Industrial Engineering

and information in the most efficient way. Improvements made by industrial engineers in automation, information control and process quality revolutionized manufacturing in the past century and greatly increased quality of life. Trends towards globalization, increased complexity and rapid technological innovation create an even greater need for industrial engineering in the 21st century. Successful industrial engineering concepts are also spreading to the financial, logistics, and health care services…

Words 627 - Pages 3

GB Xiu Hu Essay

incineration and landfill (Menad et al 1998). Political The Japanese government issued favorable policy for electronic industry (Peter & Luke 1999). Table 1 STEEP analysis 3. Trends The known fact was proposed that there is a financial crisis of globalization occurrence 2008. This crisis caused a profound…

Words 2371 - Pages 10

The 2007 Credit Crunch and the Future of Capitalism Essay

AND STRATEGY MMM7320 (2013-14) The 2007 Credit Crunch and the Future of Capitalism Assessment 1: Group Project Submission date: 7th of November 2013 Rafal Leja Hang Nguyen Hoang Thanh Yingying Tang Jiaying Ding Tian Zhao Boxiong Xue Executive Summary This report investigates the case study of the U.S. Credit Crunch in 2007- 2008 and the future of capitalism. The report discusses the causes and impacts of the financial credit crunch on the economies and then it follows…

Words 3124 - Pages 13

Soc 1001 Section 1

be required to take two one-hour exams and a two-hour final exam (each worth 25% of your course grade). You are required to complete the plagiarism module on HuskyCT by noon, September 13. You may retake it once if you are not satisfied with your score. You must do this module for this course even if you’ve done it before for another course. This module will be worth 5% of your course grade. You will also be required to post a total of 5 out of 15 possible weekly entries of at least 2 full paragraphs…

Words 2659 - Pages 11

Income Inequality

disadvantaged contracts. For example, cash advance loans have incredibly high interest rates, without the proper understanding, one can fall into a cycle of debt and poverty. Again, looking back at the financial crisis of 2007, individuals with low credit scores could qualify for large loan amounts with short-term low monthly payments alongside long-term risk. The lenders even falsified documentation to push high-risk individuals through the process. One could infer that these individuals were not educated…

Words 1129 - Pages 5

Essay about An Incomplete Picture of Life

Plichta English 111, Essay #1 12 Feb 2013 1,026 Words An Incomplete Picture of Life Mitchell Stephens, a professor of journalism and mass communications at New York University, has traveled around the world writing about many topics including globalization. With his articles appearing in famous newspapers such as the New York Times, Washington Post, and Los Angeles Times, Stephens has become a well-respected and renowned writer. In his Los Angeles Times article, “The Death of Reading,” Stephens believes…

Words 1117 - Pages 5

Guide To Writing Essay

Introduction This piece is meant to instruct students on how to write academic manuscripts, papers and/or reports in terms of organization, format and language (including tense). Students should consistently apply these guidelines with all papers written while embarking on their studies at this institution. These guidelines do not supersede the specific directions given by other instructional staff. If students are instructed to do something different than what is found in these pages…

Words 4664 - Pages 19