Globalization

Globalization

1. the process by which businesses or other organizations develop international influence or start operating on an international scale

   • Sole Proprietorship
     • Partnership
       • Corporation

2. The impact of globalization on tourism

   • International Relations
     • Cultural Relations
       • Cultural Change
     • Global Local relations

3. Economic globalization is one of the three main dimensions of globalization commonly found in academic literature

   • political globalization
   • cultural globalization

4. Future of Globalization

   • As the pace of globalization continues to increase, new opportunities and challenges will arise for leaders and communities

5. Negative Effects

   • Rise in terrorism and criminal activities
   • Globalization uses up finite resources more quickly
   • Globalization increases world carbon dioxide emissions.
   • Globalization acts to increase world oil prices.
   • Globalization transfers jobs from developed countries to less developed countries.

6. Positive Effects

   • It creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world
   • It allows businesses in less industrialized countries to become part of international production networks and supply chains that are the main conduits of trade

7. Benefits in trading

   • Greater free trade.
   • Greater movement of labour.
   • Increased capital flows.

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