Explain and give some examples 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)
Globalization refers to the interconnectedness and integration of various units across the globe through shared resources and common strategies. Here is an explanation along with some examples to illustrate the nature of globalization: 1. Interconnected Units: Globalization involves multiple units located in different parts of the world that are interconnected through common ownership and shared resources. For example, multinational corporations have operations in various countries, sharing resources, technology, and expertise to operate globally.2. Shared Pool of Resources: Globalization relies on a common pool of resources such as money, credit, information, patents, trade names, and control systems. For instance, global financial markets facilitate the flow of capital and investment across borders, enabling businesses to access funding from international sources.3. Common Strategy: Units participating in globalization often align their strategies to achieve common goals and objectives. For example, international organizations collaborate on sustainable development initiatives to address global challenges like climate change and poverty.4. Global Market Presence: Globalization expands product presence into different markets worldwide. Companies like Apple and Samsung have a global market presence, offering their products and services to consumers in diverse regions, adapting to local preferences and regulations.5. Diverse Human Resources: Globalization involves highly diverse human resources from various cultural backgrounds and skill sets. International companies employ a diverse workforce, benefiting from different perspectives, expertise, and experiences to drive innovation and growth.6. Global Transactions: Globalization facilitates transactions involving intellectual properties such as copyrights, patents, trademarks, and process technologies across the globe. For example, technology companies license their patents internationally to expand their market reach and generate revenue from licensing agreements. In essence, globalization is characterized by the interconnectedness of units across the globe, shared resources, common strategies, global market presence, diverse human resources, and global transactions involving intellectual properties. This interconnected and interdependent nature of globalization shapes the modern global economy, trade relations, and cultural exchange on a worldwide scale.
