Globalization is a concept that cuts across all fields in the modern world business. Globalization has affected the developed and developing countries alike. Its effects are both positive and negative. Most countries benefit from it at one point and face negative effects at another.

Currently, both small and big companies face the same issues in the global field; the big players in the market are no longer necessarily the determinants in the global field (Mrak, 2000).According to (Mrak, 2000), a rise in technology has seen small and medium companies play a competitive role on the global market field. On the top of the list is internet, which has reduced the world into a global village. Buying and selling is easier, efficient, and more effective.

A rise in technological knowhow has seen tremendous improvements in the medical field making simple operational procedures quicker and less risky. Robots have been used for closed surgery procedures. Modern medicine has evolved to a level that allows for online consultations and drug purchases. Additionally, research from global health leaders like John Hopkins has led to increased consumer choice that allows customers alternatives to a single drug.

The developing countries have joined there developed counterparts in the trend towards making the global economy a success in modern medicine. As a result, countries like India are able play a dominant role on the global field.

On the other hand, globalisation has had negative effects on the world. Many have lost jobs due to advancement in technologies (Mrak, 2000). Many organisations are resulting to maximisation of profit and reduction operational costs. Machines have taken the place of workers to ensure maximum output. Most developed countries are facing recessionary periods that lead to jobs loses that lead to a significant drop in economic growth among member countries.

Based on these issues, there should be a governing body to control and regulate the upcoming and already existing issues in the global field. The body should have the power to make decisions affecting the global market in both the developing and developed countries.