Class summary of the globalization

GLOBALIZATION:

MEANING:
                
                   The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.

It can be happen through the FDI(foreign direct investment) and FII(Foreign institutional investor)

GLOBALIZATION OF MARKETING:

                   

                      Marketing globalization is a synergistic term combining the promotion and selling of goods and services with an increasingly interdependent and integrated global economy. It makes companies stateless, without walls, with the Internet an integral marketing and cultural tool.

GLOBALIZATION OF PRODUCTION:

                

                       Globalization of production refers to the "sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor, and capital".

THANK YOU

ABHISHEK JAIN

161102