Please enable JavaScript.
Coggle requires JavaScript to display documents.
GLOBALIZATION - Coggle Diagram
GLOBALIZATION
-
What is globalization?
It is the process by which businesses or other organizations develop international influence or start operating on an international scale.
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe
-
-
-
Why is it important?
Globalization changes the way nations, businesses and people interact. Specifically, it changes the nature of economic activity among nations, expanding trade, opening global supply chains and providing access to natural resources and labor markets.
Globalization also decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.
-