14.2 Globalization Benefits and Challenges
- Define globalization
- Explain key benefits and challenges of globalization
- Describe globalization and the major benefits and challenges it poses for multinational organizations penetrating global markets
We live in an increasingly globalized, interconnected world. There is a strong likelihood that clothes you’re wearing now, some of the food you’ve eaten today, and the device you’re using to read this page are all products of globalization: they come to you via other countries where they were produced and prepared for your consumption. Globalization is the growing level of interconnection between people, businesses, and countries around the world. And, where businesses and people exist, there is marketing.
This next reading introduces the concept of globalization, the great benefits it can offer, as well as some of the challenges that businesses face when doing business in multiple countries.
- Reading: Globalization Benefits and Challenges
- Self Check: Globalization Benefits and Challenges