Paper Summary:

This paper examines through a literature review how globalization, the spread of economic innovations around the world and the political and cultural adjustments that accompany this diffusion, appears to be unstoppable. It discusses how globalization is growing as far as both finished products and components are concerned and how in many industries there is a clear tendency towards globalization. It looks at the advantages of globalization to industry and business, on the economy and as a direct result, the quality of life.

Outline
Introduction
Global Environment
Management Functions
Global Business and the Quality of Life
Conclusion

From the Paper:

"With regard to manufacturing, advantages can be obtained in a global strategy through: the effective utilization of scale economies; the concentration of learning in one plant or a small number of plants; the integration of operations; the coordination or the concentration of activities to support production and product development; and the use in general of world-class manufacturing policies. With reference to the operation value chain, the most favorable configuration of each phase can differ from the others. With regard to product design and development both of which are strongly linked to R&D activities decentralization of the development centers can facilitate access to technology and its development, as decentralization improves the flow of information, improves contacts in border areas, and induces contacts with leaders in the field (Mitchell, 1995, pp. 364-382)."

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