Globalization is the production and distribution of products and services of a homogeneous type and quality on a worldwide basis. "Globalization is the activity whereby "distinct" national economies are subsumed and re-articulated into the system by essentially international processes and transactions" Hirst and Thomson, 1992. Globalization means, in brief, making the whole world a small village. For some it is building up a "united universal empire." Another point of view takes this word to mean overcoming the old obstacles of nationality, demography and geography, and dealing universally without limiting boundaries. It also means the freedom of communication in all domains in the world. As for the source of this world movement, it is a part of our world, North America. In its universality, globalization depends on economy and media, using advanced technological networks that have expanded in the world without any objections or boundaries, languages or politics.
[...] - It can lead into cultural homogenization (“Global village”) - It make markets to converge - It leads to globalization of customers - Economies of scale and scope - Increase in levels of fixed costs - Globalization has lead to fundamental changes in industry structure (deregulation, privatization, technological change) - Globalization is characterized by cost drivers: Some drivers of globalization arise either from the country and regional structure, others from the economics of the industry or can be strategically determined by companies themselves. [...]
[...] After analyzing every definition of globalization and all of the terms related we can sum up that the term "globalization" has acquired considerable emotive force. So is Globalization good or bad? Some view it as a process that is beneficial and also inevitable and irreversible. Others regard it with hostility, believing that it increases inequality within and between nations, threatens employment and living standards and thwarts social progress. Globalization offers extensive opportunities for truly worldwide development but it is not progressing evenly. [...]
[...] The globalization of economy through modern technological means does not intend at all to limit those international relationships only in the field of buying and selling, for the buyer and seller are always connected to each other. The economic matters are the factors that give life its taste for man, not only in its material dimensions, but also in its spiritual one. The acceptance of globalization as a material important necessity is not a bad matter at all. On the contrary it brings to us new developments that are worth studying and examining. [...]
[...] The majority of international business are conducted by MNE´s, this activity can be carried out by exports and imports: - Exports: Goods and services produced by a firm in one country and then sent to another country. - Imports: goods and services produced in one country and brought in by another country. The European Union is the world's single largest trading unit, followed by Asia and North-America. Information about exports and imports help us to understand the impact of international business in the economy. [...]
[...] Encouraging this trend, not reversing it, is the best course for promoting growth, development and poverty reduction. The crises in the emerging markets in the 1990s have made it quite evident that the opportunities of globalization do not come without risks. This is not a reason to reverse direction, but for all concerned to embrace policy changes to build strong economies and a stronger world financial system that will produce more rapid growth and ensure that poverty is reduced. In conclusion as globalization has progressed, living conditions have improved significantly in virtually all countries. [...]
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