International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Globalisation, Privatisation and Competition in the Third World Countries

The paper analyses how the third world countries especially Africa has participated in issues of globalization, privatization and competition in the world economy. It discovers that the three concepts have one thing in common-the pursuance of efficiency with their philosophies being societal welfare oriented. They are concerned with standardization of products and services, and distribution at affordable prices in any part of the globe. Using discourse analysis it observes that Africa which has similar economic, political, technological, social-cultural, and environmental configurations with other third world countries has not significantly contributed to globalization, privatization and competition in the world of commerce and industry. Consequently, Africa plays apathy and as such remains a consumption oriented continent and a viable market for the industries of the West and other third world countries. The paper urges the continent to reverse her current posture of loss of cultural and intellectual prowess to everything western because Africa's age of passive posture must cease and the cessation must be Africa induced. It calls for a cultural re-engineering with a fundamental rethink about the assumption on which a business is defined and run. The central logic is to dissuade the culture which encourages corruption and elevates wealth to the level of its respected attribute, subordinating character and integrity.

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