Please enable JavaScript.

Coggle requires JavaScript to display documents.

GLOBALIZATION, Benefits - Coggle Diagram

- - - - In order to go about the internationalization process properly, subject-matter experts, technical experts, or people with a level of international experience may be called upon
      - In general, any products intended for use by consumers across multiple languages will undergo the internationalization process
      - Some areas of product development and usage that internalization can apply are:
        
        Time zones
        
        Currency
        
        Addresses
        
        Postal codes
        
        Social Security and social insurance formats
        
        Telephone formats
        
        Assembly instructions
        
        Benefits
        
        All markets are subject to economic variations that can directly influence your business.
        
        This can also increase revenues from the domestic market
        
        Benefits
        
        Engaging with foreign clients means that you can truly say your company is international,
        
        Customers may have more confidence in your product or service if they see that it is also trusted by international clients.
  - - - These barriers include tariffs, such as duties and surcharges, and nontariff barriers, such as licensing rules and quotas.
        
        Liberalization is a policy measure relating to economic policies. It advocates liberalizing of economy against unnecessary controls and regulations. It does not support any unwanted restriction.
        
        Without the policy of liberalization there are undue delays, inefficiency and corruption. But the policy of liberalization brings transparency in the policy and is a type of economic reform.
      - On the other hand, globalization fostered by free flow of information and rapid technology is a deriving force that no country can turn back.