Global economy: they are competing globally; resource supplies, product markets and business competitions are worldwide in scope, which is influenced by . Globalization: process of growing interdependence among the components in the global economy ex. The effects: see as boarder less world where economic integration becomes extreme that nations don"t matter anymore. World 3. 0 : pankaj ghemawat says we are moving towards this, which are nations cooperating in the global economy while still respecting one another"s characteristics. Global management: involves managing in more than one country. Success for firms depend on being able to attract and hire truly global managers who have strong global perspectives, culturally aware. Global manager: is culturally aware and informed on international affairs. Aware of regional developments in a changing world. Transnational in outlook see every step of process. Global businesses are the foundations of world trade, helping to move raw material, finished products and specialized services from one country to another.