Globalization in its simple definition can be defined as the system which moves the local to other part(s)of the globe thus making it global. According to Wikipedia it “is the process of transformation of local or regional phenomena into global ones. It can be described as a process of blending or homogenization by which the people of the world are unified into a single society and function together. This process is a combination of economic, technological, socio-cultural and political forces. Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technologyIn essence the practical manifestation of the process of globalization is:
1. Multinational corporations
2. International and national mobility of human recourses, products and services
3. Easy Access to global communication through new, modern and in expensive technology
of media, internet and telecommunication
4. International laws
5. International trade and human rights agreements
6. Standardization of choices in terms of global tastes and global ideas
7. Diminishing importance of nations and increasing relevance and control of organizations
which can operate transnational?
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