Question

Write down the drivers of globalisation?

Answer 1

Globalization is the process of international integration. It arises from interchange of world views, products, ideas and other aspects of culture.
The main drivers for globalization are:
- Technological drivers (innovations in the transportation technologies; Innovative means of communication (mobile connection, Internet);
- Political drivers (Liberalized trading rules and deregulated markets);
- Market drivers (as a result of local markets saturation, companies aim to move to the international markets);
- Cost drivers (labour and resource costs vary from country to country, this fact is the reason for companies to search for cheaper resources abroad);
- Competitive drivers (with the globalization the inter-company competition increases, that is the reason for them to play on the international markets).