Social Studies College

why do we need to understand the effects of globalization?​

Answers

Answer 1
Globalization is about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political and economic integration. It is the ability to move and communicate easily with others all over the world in order to conduct business internationally.
Answer 2

Firms need to understand various effects of globalization to enable them make plan and decision on market.

Globalization basically means the process that business or firm went through to develop or gain international influence for patronage of its goods or services.

Some effect of globalization includes:

It encourage competition with local product or services.The product helps to decreases the cost of local product. Its enable accessibility to a wider variety of goods.

Therefore, local firms need to understand the effects of globalization because it helps them plan on how to gain the market over foreign firms.

Learn more about Globalization here

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Related Questions

What is the fundamental purpose for county government?

Answers

Answer:

To regulate areas smoothly (Small too) in a state and to make sure democracy and justice is fairly served.

Explanation:

:) hoped this helped you

Answer:

To regulate areas smoothly (Small too) in a state and to make sure democracy and justice is fairly served.

Explanation:

the dude up there helped

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