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Understanding Globalization and its Drivers

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Prepare comprehensive responses to the following questions:

a. What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?

b. List the major drivers of globalization and give three examples of each.

c. Explain at least four effects of globalization that impact your community and your organization.

d. What are some major regional trading blocs and specify at least two in your region of interest.

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Solution Preview

a. What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?

Globalization is the expansion of companies and entities into the international market; working, manufacturing, and selling or buying from two or more countries. Companies that sell to other countries or buy from other countries are not a good example, but those that have investment, manufacturing, or other divisions of the company in another country is definitely globalized.

(http://www1.worldbank.org/economicpolicy/globalization/)

b. List the major drivers of globalization and give three examples of each.

Costs, markets, ...

Solution Summary

This solution discusses the definition of globalization, the drivers of the globalization movement, the effects of globalization on a local community and regional blocs in the global market in 315 words with three online references.

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