This paper discusses the development of the globalization process, the meaning of the term globalization and the impacts of globalization and global companies on the world economy, global community, inequality and different living standards in the wealthier and poorer countries. It is pointed out that globalization has both, negative and positive aspects, but it certainly brings a significant change. The developed countries and global companies are carriers of the globalization process which are using very well the global conditions. With the development of information and communication technologies the world has become a single system where a connection between two subjects in different parts of the world is made within a few minutes. An eternal theme during the development of globalization is the discussion of problems of economic inequality and poverty. The question is what are the concrete effects of globalization causes? Who are the losers and who are the winners in this process? In response to this question there are two opinions. Someone think that if merging the developed and underdeveloped countries follows an increase of inequality and dislocation of production, while others argue that the winners actually are both sides. Is it a game with two winners or one loser?

Globalization means a dynamical, political and cultural process that has enabled the rapid development in the fields of transport and communication, which is often driven by the desire of large corporations to conquer new markets. Globalization is a controversial process.

There are three types of globalization:

Economic globalization means primarily the creation and regulation of a single world market with free competition and encourages development. Opponents on the other hand argue that the large multinational corporations have been using already-earned capital to prevent the creation of competitors with whom to share the market.

Political globalization is closely associated with economic globalization. The existence of a single world market reduces the ability of national governments to directly stimulate the development of their economies by setting rules that give priority to our own companies. City decision-making is transferred from state to international institutions, thereby reducing the ability of people to direct election of representatives of government influence in their own development.

Cultural globalization is the encounter of diverse world cultures and customs. The flow of goods, capital and people across national borders brings with it the flow of habits, customs and cultures. This process of different people often provokes a different reaction. Some consider the impact of a new culture positive development that enriches the existing culture, while others in the new culture they see a threat to established values and rules (http://bs.wikipedia.org/wiki/Globalizacija).

Globalization is preceded by an incredibly rapid technological development. There was a combination of information technology and communications. Computer technology, satellite communications, optical cables and mobile phones allow a quick and cheap communication that has, among other things; result in geographic branching of companies. Plants are moved around the world depending on the benefits of natural resources and cheap labour. In most developed countries are formed knowledge industries, while manufacturing plants are located in less developed and underdeveloped countries.