ADM 1301 Chapter 6: Canadian Business & Society (Delcorde)
Document Summary
Globalization is the interconnectivity of nations, the melding of political spaces, and the creation of a borderless world. Multinational collaboration in the creation of business, political, and social wealth by maximizing the unique knowledge contributions of nations and cultures worldwide in developing a better living standard for all nations. Leads to greater market efficiency: facilitates greater output with fewer inputs. Result in a cleaner world: as developing countries get richer living standard would increase. Increases prosperity and opportunity of all participating countries. Big corporations are the most powerful players in developing countries. Provokes the development of problems that cannot be solved by a single nation. Take into consideration of other cultures, customs and etc. Need a global mindset to fit into the changing world and willing to change to the foreign and will help. A government need to ensure that the environment the business is effective and working efficiently.