Globalization

Globalization

1. 1. Access to New Cultures: Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art.

   • 2. The Spread of Technology and Innovation: Many countries around the world remain constantly connected, so knowledge and technological advances travel quickly.
     • 3. Lower Costs for Products: Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers
       • 4. Higher Standards of Living: Across the Globe Developing nations experience an improved standard of living—thanks to globalization. According to the World Bank, extreme poverty decreased by 35% since 1990
         • 5. Access to New Markets: Businesses gain a great deal from globalization, including new customers and diverse revenue streams. Companies interested in these benefits look for flexible and innovative ways to grow their business overseas.
           • 6. Access to New Talent In addition to new markets, globalization allows companies to find new, specialized talent that is not available in their current market.

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