GLOBALIZATION

INTRODUCTION:

The process by which business or other organization makes international relations is termed as
globalization. In other words the term globalization also refers to the phenomenon of operating
business and other organizations on an international scale. Consolidation of markets in an
international economy is called globalization.

 Globalization is a process of interaction and integration among the people, companies,

and governments of different nations, a process driven by international trade and
investment and aided by information technology. This process has effects on the
environment, on culture, on political systems, on economic development and prosperity,
and on human physical well-being in societies around the world.

(Ref; the State University of New York)

 Economic Globalization is the increasing economic interdependence of national

economies across the world through a rapid increase in cross-border movement of goods,
service, technology, and capital.

(Ref; Wikipedia)