Question

explain various approaches to globalization of the firm

Answer 1

It started to emerge on an industrial scale in the 19th century as the extraction and processing of raw materials (such as in mining, steam power, and machinery) developed much further than it had in preindustrial eras. During the 20th century, energy consumption rapidly increased. Today, about 80% of the world’s energy consumption is sustained by the extraction of fossil fuels, which consists of oil, coal and gas.[2] Another non-renewable resource that is exploited by humans is subsoil minerals such as precious metals that are mainly used in the production of industrial commodities. Intensive agriculture is an example of a mode of production that hinders many aspects of the natural environment, for example the degradation of forests in a terrestrial ecosystem and water pollution in an aquatic ecosystem. As the world population rises and economic growth occurs, the depletion of natural resources influenced by the unsustainable extraction of raw materials becomes an increasing concern.

Answer 2

There are three approaches to globalization which includes internationalist, transformationalist, and Globalist.

Explanation:

• Internationalism is a process in which the products or services of the company are spread across the globe worldwide and every customer will be well known of the products so as to understand of its benefits and drawbacks.
• Transformationalism is a process in which the ideas of the business can be converted to services that are mostly liked by the customers.
• Globalism is the process globalizing the business in order to offer the world class services to the customers.

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