Unit 1 disc board 2 international buss comm.
Globalization is the phenomenon of increased interconnectivity and integration between countries, cultures, and economies. It is driven by advancements in technology that have enabled easier access to information and resources which can be used to benefit businesses of all sizes. One of the biggest advantages is the ability to tap into new markets or expand existing ones exponentially by taking advantage of global networks.
Moreover, globalization also allows for greater cost savings through outsourcing labor or utilizing cheaper materials from different parts of the world. In addition, it can facilitate knowledge sharing as well as collaboration with other industry leaders which could lead to improved productivity over time. Furthermore, having access to a larger pool of highly skilled talent can help create innovative products or services while expanding on existing capabilities within an organization.
Overall, globalization has become an essential part of modern business operations due to its numerous benefits such as providing more efficient ways for companies to connect with customers around the world while reducing costs at the same time.