Globalization

Paper Summary:

This paper considers the phenomenon of globalization and examines what factors make globalization possible. It lists three of these factors as technology, capital and management and then discusses each in detail. This paper is an examination of the industrial aspect of globalization.

From the Paper:

"According to Micklethwait and Wooldridge there are "three engines" driving globalization today. The first of those three engines is technology. "Technology gives entrepreneurs ... the freedom to challenge giant companies and to break up concentrations of power," (Mickelthwait and Wooldridge, 2003 ) Capital is the second engine. Financial markets "are not just wiring economies together and altering the structures of companies, ... they're also changing entire political systems." (Mickelthwait and Wooldridge, 2003 ) The third engine is management. "The internationalization of business practices now has its own momentum, and it is also accelerating," write the authors. Companies can shift the content of their companies from localized, to global and maintain their competitiveness."

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