Globalization: Drivers, Impacts, and Management Roles
Classified in Social sciences
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Why the Upsurge in Globalization?
1. Increased Customer Demands and Access
- Demand for more value for money
- Preference for global brands over local brands
- Access to global distributors
2. Increased Technological Innovation
Improved ICT facilitates access to markets, partners, and global networks.
3. Increased Power of Emerging Markets
4. Increased Globalization of Financial Markets
5. Shared R&D and Global Sourcing
- Companies spread their research across multiple countries.
- Outsourcing is more of a rule than an exception.
6. Evolving Government Trade Policies
Governments try to attract foreign investments.
Consequences of Globalization
Pros
- Free Trade Objective: No borders, fewer tariffs, lower prices, cost reduction, open markets.
- More Employment: New jobs,