Business, 20.09.2020 18:01 kleathers97

Globalization has been driven by five major factors: political, technological, market, cost, and competitive. Business has fueled these trends and has been the beneficiary of these trends. Understanding these trends helps businesses develop strategies and tactics to accelerate these trends. Understanding globalization trends helps businesses identify opportunities and threats in their environment. Understanding these trends will also make the changes much more manageable. International businesses have greater flexibility, more options, and a broader scope to consider globalization Of production and globalization Of markets. For each driving force listed, match the description or implication for business.

Driving Force:

a. Competitive drivers
b. Political drivers
c. Cost drivers
d. Technological drivers
e. Market drivers

1. Growth in services
2. Exporting or producing overseas
3. Lower cost of goods sold
4. Explosive growth of High power, low-cost computing
5. Explosive growth in international business
6. Preferential trading arrangements and privatization of industries
7. New opportunities and new markets
8. Emergence of global customers
9. Increased opportunities for trade and investment
10. Intense competition in world markets

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