Elements and Drivers of Globalization – International Business Essay (100 Level Course)

Elements and Drivers of Globalization – International Business Essay(100 Level Course)

A.Globalization of Markets:

It refers to the merging of national markets into one huge global marketplace. Now selling internationally is easier due to falling barriers to cross-border trade. A company doesn’t have to be the size of these multinational giants to facilitate and benefit from the globalization of markets. It is important to offer a standard product to the worldwide. But very significant differences still exist between national markets like consumer tastes, preferences, legal regulations, cultural systems.

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