Globalization is the process of interaction and integration among people, companies, and governments worldwide.
What are the main drivers of globalization?
The main drivers of globalization are advancements in technology, transportation, and communication.
What are the positive impacts of globalization?
Globalization promotes economic growth, cultural exchange, and access to a wider variety of goods and services.
What are the negative impacts of globalization?
Globalization can lead to job loss, environmental degradation, and cultural homogenization.
What is outsourcing?
Outsourcing is the practice of contracting work to an external company or overseas supplier.
What does the term 'global village' mean?
The term 'global village' refers to the idea that the world is becoming more interconnected and interdependent.
What is cultural diffusion?
Cultural diffusion is the spread of cultural beliefs, practices, and customs from one society to another.
What is offshoring?
Offshoring is the relocation of a business process or service to a foreign country.
What is a multinational corporation?
A multinational corporation is a company that operates in multiple countries and has a global presence.
What is the role of the World Trade Organization (WTO) in globalization?
The World Trade Organization (WTO) is responsible for promoting global trade and resolving trade disputes between nations.
What is cultural assimilation?
Cultural assimilation is the process by which a minority group gradually adopts the customs and practices of the dominant culture.
What is economic interdependence?
Economic interdependence is the reliance of countries on each other for trade and economic cooperation.
What is the impact of globalization on labor markets?
Globalization can lead to increased competition for jobs and wage inequality in some countries.
What are examples of globalized industries?
Examples of globalized industries include technology, finance, and manufacturing.
What is the role of multinational companies in globalization?
Multinational companies play a major role in globalization by expanding their operations across borders and contributing to global economic integration.