Globalization Of The Cross Border Trade And Investment Opportunities

1373 Words6 Pages
“The process by which the perceived distance between the cross-border trade and investment opportunities are shrinking due to advances in transportation and telecommunications technology is known as globalization. Globalization not only affects the consumers but also organizations. Barriers to globalization include distance, time zones, languages, not to mention the national differences in government regulations, culture, and business systems. The bus known as globalization is driven by an organizations need to expand, seeking added revenues.Countries like China & India with a growing middle classes see leisure time as increasingly essential. Countries growing faster than China include Thailand, Vietnam, Philippines, Indonesia, Singapore as well as a few countries on the african continent. As a world economy and monetary system merge more organizations are taking advantage of the new global customers produced by globalization. By dispersing different activities around the globe to where they can be performed most efficiently, and then coordinating the entire production process, companies can deliver products to american consumers at much lower prices than would otherwise be possible. The companies that are best able to customize marketing strategies, product features, and operating practices to best match conditions in each particular country are best equipped in globalization.” (Hill, 2009) “Advances in technology lower transportation costs and the rise of skilled
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