Chapter 1, Problem 5DQ

Explanation of Solution

Globalization:

Doing the business internationally or the process involved to conducting the business internationally is called globalization. This gives immense opportunity for business organizations to step afoot in unexplored regions.

• Globalization is a process; it integrates the international interchange of products, worldviews, ideas and culture.
• The web and telecommunication technology makes it possible.
• The total world market place is interconnected without the consideration of national boundaries and time zone.
• Due to the globalization, the goods and services are identical or nearly identical in all locations.
• The challenges present in the globalization are people involved in the business need to develop good communication skills based on the location.
• Globalization creates jobs for various people involved in the business.

Implications of Globalization when looking for a job:

The person looking for a job in Globalization era should multilingual skills, and good communication...