Question

. Define Globalization

Answer 1

Globalization is the process by which the business or organization extend its operations internationally by developing international influence. This is developed by integrating and interchanging the views, products, cultural aspects, etc. internationally.

Conducting business globally is very important and crucial decision made by the business and require lots of effort and correct decisions in order to make it an effective move. It not only provide new opportunities for growth and profit but also provide reputation to business globally.

The benefits of globalization are: -

• It results in the global economic growth by providing employment facilities, making the companies more competitive and increasing the market for products and services.
• Globalization helps in benefiting from foreign capital and technology to the poor and developing countries.
• Globalization helps in creating jobs and create more competition in the market.
• Companies can increase their market share by conducting business globally.