Globalization: A View

Every day we hear it on the news, read it in the papers, overhear people talking about it� and in every single instance the word globalization seems to have a different meaning. So, what is globalization?

At political and economic level, globalization is the process of denationalization of markets, politics and legal systems, it is the rise of global economy. Many international organizations, governmental institutions and the whole academic world discuss the consequences of this political and economic restructuring on local economies, human welfare and environment. It is one of the most important features of present world.

At a business level, the process of globalization is when companies decide to take part in the emerging global economy and establish themselves in foreign markets. They adapt their products or services to the linguistic and cultural requirements of different nations. Then, they might take advantage of the Internet revolution and establish a virtual presence