Globalization - in a literal sense is international integration. It can be described as a process by which the people of the world are unified into a single society and functioning together. This process is a combination of economic, technological, sociocultural and political forces.
1. The main drivers of Globalization.
Looking for cheaper labour and manufacturing costs
Outsource to other countries to find lower cost
The BRICs could dominate world trade in 21st century
It is dangerous to stand aside as competitors merge and make alliances
Development of new technologies
Software tools on company intranet
-Global business cycle.
In every turn of the cycle, the pace of globalization is likely to increase.
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