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Caranel, Kenneth Bsce 2B Geccon Ass#1
Caranel, Kenneth Bsce 2B Geccon Ass#1
1. Give at least 5 definition of globalization according to different authors. (cite your sources)
• Globalization is the process by which ideas, knowledge, information, goods and services
spread around the world. In business, the term is used in an economic context to
describe integrated economies marked by free trade, the free flow of capital among
countries and easy access to foreign resources, including labor markets, to maximize
returns and benefit for the common good. Lutkevich (2021)
• Globalization is the word used to describe the growing interdependence of the world’s
economies, cultures, and populations, brought about by cross-border trade in goods and
services, technology, and flows of investment, people, and information. Countries have
built economic partnerships to facilitate these movements over many centuries. But the
term gained popularity after the Cold War in the early 1990s, as these cooperative
arrangements shaped modern everyday life. Kolb (2018)
• Globalization is viewed as a long term process rather than a phenomenon that emerged
in the last decades or even century. It is an old phenomenon started since civilization
began communicating and interacting with one another via different means. Coe, David
T. (2002)
Globalization affects everyone around us, it is a timely thing that needs to give a serious
attention. As a student globalization affects me in a positive way, because of globalization I can
acquire and gain new knowledge through it. Socializing with different people around the world by
using internet is one of its benefits. By that, we can ask for help with other students in other
countries with our academic tasks or collaborate with them to learn new skills and knowledge. It is
a great opportunity for us as a student in today’s Information Age.