Drivers of Globalization Globalization has been driven by five major factors: political , technological market, cost, and competitive Business has fueled these trends and has been the beneficiary of these trends. Understanding these trends helps businesses develop strategies and tactics to accelerate these trends Understanding globalization trends helps businesses identify opportunities and threats in their environment. Understanding these trends will also make the changes much more manageable international businesses have greater flexibility, more options, and a brooder scope to consider globalization of production and globalization of markets Select the driving force for each description or implication for business below. 1. Competition continues to increase in intensity with new firms entering global markets, (Click to select) 2. Microprocessors, telecommunications advances, and the Internet have fueled changes. (Click to select) 3. Firms build a direct presence in foreign markets. Click to select 4. There is a trend toward the unification and socialization of the global community leading to the formation of arrangements such as the North American Free Trade Agreement and the European Union Click to select) 5. Companies are exporting or producing overseas to capitalize on economies of scale in R&D, production, Inventory costs, and so on. (Click to select 6. Many firms have moved to gain access to combined markets by exporting to or producing in the area. (Click to select)