Globalization-refers to the shift to fightd a more integrated and interdependent world economy.
The world is moving away from self contained case economies toward an interdependent integrated globose economic system.
-Falling sell barriers accommodate it easier to sell orbicularly
-Consumers tastes and preferences are converging on some global norm.
-Firms promote the trend by offering the same elementary products worldwide
What is the globalization of production?
Firms source goods and services from locations around the testicle to capitalize on national differences in the apostrophize and tone of voice of factors of production like land, labor, and
capital.
Companies Can
Lower their overall cost structure
Improve the quality or functionality of their product offering
Why do we need Global Institutions?
Institutions
Help manage,regulate and police force the global marketplace
Promote the establishment of multinational treaties to govern the global business system
Examples Include
The World Trade memorial tablet
Makes sure that nation states adhere to the rules laid down in trade treaties
The international Monetary Fund (1944) Maintains request in the International monetary system
The World Bank- Makes loans and promotes economic development
The fall in Nations
Maintains international Peace and security
Develops friendly relations among nations
Is a center for for harmonizing the actions of nations
What is Driving Globalization?
The decline in barriers to the barren flow of goods services and capital that has occurred since the end of world war 2
Technological Change
Microprocessors and telecommunications
Internet and the world wide weave
Transportation Technology
What does Globalization Mean for FIrms?
Lower Barriers to trade and investment mean firms can view the world, rather than a single country as their market
Technological change nub lower transportation...If you want to get a full essay, order it on our website: Ordercustompaper.com
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