The Importance Of Globalization

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1.0 Globalization definition According to Royce (2008),The integration of markets, nation-states, and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before. the spread of free-market capitalism to virtually every country in the world. Kendrick and Norton (2009) a person or company or country can choose people or organizations to do business with anywhere in the world. A person in United States can do business with a person in China or South Africa. Goods are distributed anywhere around the world. Information is moving in all directions forward and back through the use of the internet, phones, fax or post. The coming of cell phones has further revolutionized everything. Globalization has been made possible by the development of transportation system where a person can travel from one corner of the world to the other within a day. Goods and services can also be transported within a day. Information is being shared within a matter of seconds. Globalization broadly refers to the expansion of global linkages, the organization of social life on a global scale, and the growth of a global consciousness, hence to the consolidation of world society. 1.1.Scope of globalization. Stegar (2013),Globalization has both good and bad aspects, but it is not inevitable. It has assisted in improving the conditions of living of people in poor

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