hamzaahmad786
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Definition 1: Globalization is the name we give to this trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
Definition 2: Globalization embraces concepts and theories from political science, sociology, anthropology, and philosophy as well as economics.

Definition 3: Globalization has been described as going "well beyond the links that bind corporations, traders, financiers, and central bankers. It provides a conduit not only for ideas but also for processes of coordination and cooperation used by terrorists, politicians, religious leaders, anti-globalization activists, and bureaucrats alike.

Globalization differs from internationalisation in the sense that its effects spans on a cross country scale. The effect of internationalisation is only limited to the country is in. An example of internationalisation would be a food business competing with others in England, Scotland, and Northern Ireland. An example of a global food business would be McDonald’s which has a store in almost every country.

Benefits
1. Being able to benefit from economies of scale results in lower prices for customers. This means the company is likely to make more sales which will move it closer to its overall objective of maximising profit.

2. Another benefit of globalisation would be the greater markets the business can enter. This can prove to be an excellent opportunity for small businesses to grow as they may be able to target an unsaturated market in another country.

Disadvantages
1. Unfortunately, only super large multinationals are able to truly benefit from globalisation as you often have to have fruitful resources and funds to be able to compete on the global market.

2. Moreover the "Mcdonaldisation" of different countries is a threat to countries as they will lose their culture and traditions which will be replaced by the tradition bought by the multinational. This is the case in France as they are trying to petition against Starbucks destroying local competitors.



hamza ahmad luton 786 hertfordshire hamzaahmad786
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pmc:producer
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What is the reason for this post (consisting of a half-arsed pros/cons list and thrown together text-book definitions)?
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hamzaahmad786
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(Original post by pmc:producer)
What is the reason for this post (consisting of a half-arsed pros/cons list and thrown together text-book definitions)?
My revision notes I thought I should share.
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pmc:producer
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(Original post by hamzaahmad786)
My revision notes I thought I should share.
Ah. I'd revise more - and good idea. Hopefully it helps someone later down the line
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