Write a short note on globalisation. List out the impacts of the same.
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Answers
The term Globalisation refers to the integration of the 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 greater interdependence and integration. It includes the creation of networks and pursuits transforming social, economic and geographical barriers. Globalisation tries to build links in such a way that the events in India can be determined by events happening distances away.
To put it in other words, Globalisation is the method of interaction and union among people, corporations and governments universally.
Also Check: Important Questions for Liberalisation, Privatisation and Globalisation
Impact of Globalisation
Outsourcing: This is one of the principal results of the Globalisation method. In outsourcing, a company recruits regular service from outside sources, often from other nations, which was earlier implemented internally or from within the nation (like computer service, legal advice, security – each presented by individual departments of the corporation, advertisement). As a kind of economic venture, outsourcing has increased, in recent times, because of the increase of quick methods of communication, especially the growth of Information Technology (IT).
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Answer:
Globalization is the process of international integration arising from the interchange of world views,product, ideas, and other aspects of culture.