Discuss the three primary forces driving globalization.

What do you think will happen

to each of these forces over the next decade? How will these changes affect
globalization?

Answer

Three primary forces:

The main drivers of globalization are economic, political, technological factors,

establishment of WTO, emergence and growth of regional integration, reduction of trade
barriers, reduction of investment barriers, technological change, increase of FDI and growth
of multinational corporations. It contains. In general, economic, financial, political, technical
and social factors have paved the way for globalization. Economic factors are primarily low
trade and investment barriers. Expansion of the financial sector is also an important driving
force for globalization.

Future of these:

In recent years, as a result of the rapid development of communications and transport, the
pace of globalization is increasing. Advances in communication allow businesses to identify
investment opportunities. With burgeoning trade and increased global connectivity, money
can move farther than ever. By outsourcing services to developing countries, businesses can
cut costs and change people's lives. Thus, poverty rates have declined worldwide over the
past few decades.

Affect on globalization:

Globalization is currently thought to alienate poorly educated and unskilled workers.

Business expansion no longer automatically means increased employment. It is also more
mobile than labor, which can lead to higher capital rewards. Globalization forces companies
to adapt to different strategies based on new philosophical trends in an attempt to balance the
rights and interests of individuals and communities as a whole. These changes allow
businesses to compete globally, while at the same time legally accepting the involvement of
workers and government to develop and implement company policies and strategies, business
leaders, labor And means a dramatic change to management.

Identify the six rules of globalization. How does each affect decision making and
competitiveness in the industry in which you would like to work?

Answer

Six rules:

1. Liberalization:

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 Freedom for entrepreneurs / businessmen to establish industry, trade and commerce in their
own country or abroad. Free exchange of capital, goods, services and technology between
nations

2. Free trade:

Free trade between nations; Excessive lack of government control for trade;

3. Globalization of economic activity:

Domestic market And control of economic activity by international markets; coordination of

national and global economies;

4. Connections:

Regions that break borders and connect with the world. It is about establishing connections
between society and other societies, one country and another, through the international
transmission of knowledge, literature, technology, culture and information.

5. Borderless Globe:

Breaks down national walls and creates interconnectivity. More than "earth without borders".

6. Complex Process:

Integrate nation-states around the world through’s common economic, commercial, political,
cultural and technological cohesion. Creation of a new world order without borders.

How it affect globalization:

Globalization influences decision making and strategy in ways that create the following
needs: Change leadership style; take advantage of international diversification as a strategic
option. Lower the barriers to international trade. Globalization intensifies competition. This
competition can be related to the cost and price of goods and services, target markets,
technology adaptation, quick response, and rapid production of enterprises. You can increase
your market share when a company produces at less cost and sells cheaper.

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