Globalization seems inevitable, but it is not without controversy. The debate on globalization will continue as people try to make sure that the benefits of global trade outweigh the costs for all countries, not just a select few. Despite the pervasive influence of globalization, it is hard to pin down one definition that will suit everybody. For our purposes, globalization refers to an interdependent world economy – in which people in one part of the world interact with people in another part as buyers, sellers or intermediaries.

Questions

1. What are the dimensions that go into the concept of ‘globalization’?

2. In your opinion, is globalization inevitable? Are the overall benefits of globalization positive? What are the gains and losses from globalization?

3. What external influences does a company encounter when determining how and where to conduct business globally?

4. What are the motives behind for example Nike’s globalization strategy? What are the pros and cons behind the sourcing of products from developing countries?