Question

What is globalization and why does it matter to companies? Explain and Support you answers.

Answer 1

Explanation:

Globalization:

Globalization means when the local economies exposed to global economies and every country has open competition with another country. Globalization is the expansion of economies and business of each country into one global market. It allows every business to market and sell their product in international market.

Importance to business:

Globalization has given every business to delimit its reach into vast pool of international business market. It gives a proper market to sell product in market where they got chance to show their potential to compete among established businesses. It provides wider market and to create a huge customer base for product and service of business. For developing nation it is so much important that they got better market and identity among international players. The workforce of company can be exposed to different new and international companies that have better and improved standards.