‘’Globalization is a widely and somewhat loosely used term intended to describe the recent and rapid process of intercontinental economic, social, and political integration. This worldwide integration allows people to communicate, travel and invest internationally, and helps companies market their produces widely, acquire capital human and material resources more efficiently share advanced technology, and enjoy economics of scale. While many benefit from globalization, others are hurt economically, some cultures may be harmed, and local environments may suffer.
• Provides to the profitability of companies and agencies via earnings and global income. • Builds more potent alternate ties and dependencies between countries via contracts of offerings they provide. • Multiplied unfastened alternate among nations. • Globalization leads to excessive investment stages and consequently multiplied wealth. Wealth is generated thru financial gains of
Globalization involves the increasing interconnection of local and nationalistic economies across the world. It increases border movement of goods, people, technologies, ideas and services throughout the world. It lets other countries to join the rest of the world and become part of worldwide interrelatedness. As the biggest companies are no longer national firms but universal partnership. In my opinion, globalization is an important issue, as it allows countries to collaborate politically, socially and economically.
Globalization is a common term in today’s society, shaping cultures and lives. With the post-colonial age, the boundaries of the countries extended to adopt more different cultural practices within those boundaries than ever before. Terms, such as ‘one’ ‘unification’ ‘community’ and others suggesting to leave the notion of separated nations and join in the new cosmopolitical and global society are often used within the concept of globalization. This unifying imagination of the globe encourages understanding of the influence of globalization in a variety of different dimensions such as economic, geopolitical, technological and cultural. Furthermore, term globalization still includes the colonial and post-colonial theories in a wide variety
Chapter 2 Literature Review Globalization describes the trend of companies buying, producing, developing and selling its good and services in various and most countries and regions in the world. With the appearance of globalization, and an interconnected world, many companies try to expand their services and products into foreign markets. Internationalization gives way to new and potentially more profitable markets, increases competitiveness of the firm, gives access to new ideas, innovations and technology (Hollensen, 2007). Development of the global marketing concept According to Kotabe, global marketing refers to marketing activities by firms that focus on the following: I. Standardization efforts— standardizing marketing programs across different countries particularly with respect to product offering, promotional mix, price, and channel structure.
MARKETING IN GLOBAL ECONOMY INDIVIDUAL EASSAY GLOBALISATION AND INTERNATIONALISATION OF PRODUCTS AND SERVICES HISSAM MALIK S00805291 ABSTRACT The aim is to deepen the knowledge of globalisation and internationalisation of products and services in the marketing context. As the years go by we can clearly see the emergence of a global economy. The different economies of different countries are integrating together and buying and selling is done internationally. Due to this there is faster communication, financial transactions, transfer of technology and even transport. In a global economy, such integration of markets is known as globalisation.
CONCEPT OF GLOBALIZATION Globalization is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. It is the process of growing and expanding to exist throughout the entire world. The tendency to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization not only leds to increasing international trade, but also in cultural exchange. Globalization is both boon and bane.
Globalization is the process by which “people across large distances become connected in more and different ways” (GLOBAL READER). The spread or advancement of these processes involves a deepening of shared experiences, and the unity of countries through the worldly concept of connectedness, and globalized linkage that globalization creates. As many activities become more similar worldwide, certain elements devalue the essence of diversity; presumably, displacing original norms and customs; ultimately, enabling people to fall distance from their basis, and become more common. Globalization is also the driving force of market expansion. Global expansion allows nearly no limits in a capitalist economy for countries that are developed with stimulated economies; on the contrary, it is bound to create a division of inequality amongst countries that struggle to advance their economies.
It is important to companies that do international business. IBL has become more uniform between countries and regions of the world for several reasons. Firstly, the forces of free trade, economic integration, and of business have accelerated. Second, nations had to cooperate in their legal responses in global issues and technologies. For example, IBL has adjusted to keep pace when ecommerce and other technologies improve economic importance.
1.0. Abstract This study aims to focus on the rising necessity and continuously changing impact of globalization on socio-economic development with respect to technology and innovations. The melting boundaries among nations and sense of togetherness which is driven by technology and innovations, has brought a revolutionary change in the business activities with a challenging impact on global business. The world has become a global village now. With globalization, business has publicly become more competitive, responsive and service oriented.