Need the following explained and defined about globalization and how it pertains to business
1. What is Globalization
2. What are the effects
3. Signs of Globalization
4. Five factors of globalization
5. Global Corporation
7. Home Country
8. Host Country
Let's take a closer look at these terms. I included the links for further consideration.
1. What is Globalization?
There are many different definitions of globalization. For example, globalization is defined as "a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology." (1). However, globalization can also mean:
? "The formation of a global village - closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual understanding and friendship between "world citizens",
? Economic globalization - more freedom of trade and increasing relations among members of an industry in different parts of the world (globalization of an industry),
? The negative effects of for-profit multinational corporations - the use of substantial and sophisticated legal and financial means to circumvent the bounds of local laws and standards, in order to leverage the labor and services of unequally-developed regions against each other." (2)
2. What are the effects?
The globalization process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. (1). However, not everyone agrees on whether its effects are beneficial. Proponents of globalization, for example, argue that globalizing allows poorer countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. (1)
Describes the concept of globalization on a number of dimensions i.e. meaning, effects, signs, factors of globalization, expatriate, home country and host country. References are provided.