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8 driving forces of globalization

8 driving forces of globalization

 8 driving forces of globalization
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There are different driving factors which impacts directly or indirectly on globalization. These Factors includes-

 8 driving forces of globalization
Image is about liberalization

1. Liberalization

The term is heavily used by different government like GATT/WTO,FDI (foreign direct investment) are the major tools in it. Liberalization allow two any MNC’s to work Freely, Free to entering business market etc.

 8 driving forces of globalization
Image is about Technology

2. Technology

There is a drastic change in International business after technology advancement, some countries have their monopolies in different segments only with the support of technology.

 8 driving forces of globalization
Image is about Economical Trends of the World

3. Economical Trends of the World

Under-develop nations have to depend only on imports.Developed nation believe in exports, In fact our economy tries to develop there economic status and this increases the chance of International trade.

 8 driving forces of globalization
Image is about Consumer Needs

 

4. Consumer Needs

Consumer is the king of present global market..Variety of products and services are demanded by the consumers and sellers is supposed to satisfy their desires ultimately this develops an opportunity for International business.

 8 driving forces of globalization
Image is about Revolution in Transportation System

5. Revolution in Transportation System

Cargo Transportation is the fastest way to export products beside this many other wages used for save and bulk transportation.

 8 driving forces of globalization
Image is about Product Development Cost

6. Product Development Cost

It is a cost which is included to develop a product, Every organisation tries to reduce to high extent.

 8 driving forces of globalization
Image is about Communication Improvement

7. Communication Improvement-

Communication was the biggest obstacle, before some decades but now improvement taking place in International business. E-mail, Fax, teleconferencing are some ways in it.

 8 driving forces of globalization
Image is about MNC’s

8. MNC’s

Multi-National companies are one of the most powerful forces for globalization.the whole economy nation can be fix by MNC’s, There are these organisation which connect all of these resource, skills, technology, objections with the Conjunction of the world market and it increases the chances of revenue generation.

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Part 1- Previous topic is What is Globalization?

Part 3- Next topic is 5 Stages of  internationalization 

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