INST 1100 Define and explain the concept of globalization. â€“ Assignment SolutionGlobalization refers to the increasing integration of national and regional markets and economies and the domination of the world economy by massive multinational firms.Â It has affected nearly every organization, and industry, in the competitive marketplace today. Detail the following in relation to the changing nature of global competitiveness:
- Define and explain the concept of globalization.
- Compare and contrast the growth of globalization over the past thirty years, in general, and then specifically for one industry of your choice. For instance, you may present the growth of imports and exports over the past thirty years, and then detail the impact globalization has had on United States toy manufacturers.
- Finally, evaluate how globalization has altered the competitive landscape. In particular, elaborate on how a globalized marketplace affects the profitability and productivity of an organization and an industry.