Explain Nature of Globalization Globalization is a conglomerate of various multiple units located in the different parts of the globe which are linked The multiple limits draw on parts ownership. Multiple ünits. draw by common ownership. of the globe but all linked by common on a common pool of résources, such as money,, credit, information, patents; trade names and control systems. The units respond, to some cómmon: strategy. Product prèsence is in different markets of the world. Human resources are highly diverse. Transactions. involving intellectual properties such as copyrights, patents, trademarks, and process technologies are across the globe.
Answer (1)
Answer:The text you provided describes the nature of globalization in a somewhat complex and technical way. Let's break it down to understand its core meaning: Globalization: A Network of Interconnected Units The text highlights that globalization is not just about individual companies expanding overseas. It's about creating a network of interconnected units operating across the globe. These units can be: - Companies: Think of multinational corporations like Apple, Toyota, or Nestle. They have factories, offices, and operations in various countries.- Organizations: This could include NGOs, research institutions, or even government agencies that collaborate internationally. Common Ownership and Shared Resources: The key element is that these units are linked by common ownership. This means that a single entity controls and manages these multiple units. This shared ownership allows for: - Pooling of Resources: These units can share resources like money, credit, information, patents, trademarks, and even control systems. This allows for more efficient operations and broader reach.- Unified Strategy: The common ownership allows for a unified strategy across all units. This means that the company or organization can coordinate its actions and goals globally. Global Reach and Diversity: The text also emphasizes the global reach of these units: - Product Presence: The products or services are available in different markets worldwide.- Diverse Human Resources: The workforce is often diverse, with employees from different countries and cultures.- Global Transactions: Intellectual property rights like patents, trademarks, and technologies are used and exchanged across borders. In Summary: Globalization, as described in the text, involves the creation of a global network of interconnected units under common ownership. These units share resources, operate under a unified strategy, and engage in global transactions. This interconnectedness fosters a more integrated and interdependent world economy. Important Note: The text also mentions "multiple limits" and "draw on parts ownership." These phrases are a bit ambiguous and could be interpreted in different ways. It's possible that the text is trying to convey the idea that globalization also has limitations and challenges, such as: - Regulation and Control: Managing a global network is complex, and there may be challenges in coordinating regulations and ensuring compliance across different countries.- Cultural Differences: Operating in diverse cultures requires sensitivity and understanding to avoid misunderstandings and conflicts. Overall, the text provides a technical description of globalization, emphasizing its interconnected nature, shared resources, and global reach.
