· The processes by which a company combines different activities around the world so that they operate using the same method
· Global integration can involve the processes of product standardization and technology development centralization.
· The globally integrated enterprise is a term coined in 2006 by Sam Palmisano, the then CEO of IBM Corp, used to denote “a company that fashions its strategy, its management, and its operations in pursuit of a new goal: the integration of production and value delivery worldwide.”
· It is said that the world has become a global village. Fast transportation, telecommunications, radio, TV and the computer have brought the most distanced countries and nations close to each other. Globalization is this coming together of countries in all fields of commercial, industrial and cultural activity.
· The developed or advanced countries are getting closer in their own ways.
· The concept(general idea) of globalization became popular after the collapse of Communism in the Soviet Union and Eastern Europe. It is in effect the victory of capitalism and means trade without restrictions, free movement of capital and technology and the operation of a completely free market economy.
· Globalization aims at opening up new markets and expanding investment. In fact capital doesn’t flow easily from the developed countries in to developing countries.
· Globalization also means free trade or the lifting of restrictions of duties and taxes on imports and exports. We don’t stand to gain much when our goods can’t compete with those of the developed countries. When the goods of the developed countries are allowed free entry here, our people will buy them in preference to our goods. Our goods will not even be exported. This kind of free trade will result in closure of our factories and unemployment of the labour classes.
· In fact the time is not ripe for making free trade internationally operative. This can happen of course when the developed countries have spent their capital and efforts on the education and training of the work force of the undeveloped part of the world.
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