Defining Globalisation

People define “globalisation in many different ways. “Globalisation is a business initiative based on the belief that the world is becoming more homogeneous; further, distinctions between national markets are not only fading but, for some products, will eventually disappear. As a result, companies need to globalize their international strategy by formulating it across country markets to take advantage of underlying market cost, environmental, and competitive factors”. (Flaherty, 1996 :419 ). Another definition of globalisation is; “People around the globe are more connected to each other than ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled ‘globalisation’. (globalisation.about.com 2005) I agree with this statement as use of technology such as internet has made