What do you mean by globalisation & Explain. in your own words
Answers
Answer:
Globalisation refers to the process of integration between countries such that there is a greater flow of goods, services, capital and labour among them. This process is making world into "one big village".
This process has had following impact:
• Greater coordination and cooperation at international level.
• Emergence of institution like WTO (World trade organisation) for facilitating trade led relation among countries.
• Separation of the process of production, where in a company can have R&D, Manufacturing unit and distribution zone, being located all separately in different location.
Answer:
The term globalisation refers to the integration of economy of the nation with the world economy. it is a multifaceted aspect.it is a result of the collection of multiple strategies that are directed at transforming the world towards a greater interdependence and integration.
it includes the creation of network and pursuits transforming social, economical and geographical barriers.
Globalization tries to build links in such a way that the event in India can be determined by the events of happening distance away.
in other words globalization is the method of interaction and union among people, corporations and governments universally..