Question

Julie Valentine is a college junior majoring in business. On a recent Saturday, she went shopping at a local mal.l First, she ordered a big breakfast, unaware that most of her meal was imported form abroad: bacon from Spain, juice from Brazil, and French-branded yogurt. Julie then headed to the department store to buy a gift for her father. She perused neckties with Italian and French brand names, and others made in China and Romania. She also considered electric shavers made by Braun (a German brand} and Philips (a Duch brand}. She eventually bought a Panasonic (a Japanese brand}. Next, she headed to the perfume counter, where she tried various brands, including Chanell (France), French Connection (United Kingdom), and Shiseido (Japan). Julie was dreaming of buying a laptop computer. At the electronics store, she explored several models made in China, Ireland, and Malaysia. As she passed a travel agency, she remembered her spring vacation was just around the corner and decided to consult here best friend, Melissa. Whipping out her Nokia cell phone (a finish brand, but made in Hungary and South Korea), Julie reached Melissa, who answered on her Motorola phone (from a U.S. firm, but made in Maysia). The two chatted about their dream trip to the beaches of southern Spain, considered Mexico, but decided they will probably end up in Florida. Julie looked at a blouse made in Vietnam, but hesitated to buy it because she had read that some products from Southeast Asia are made with child labor. Julie left the mall and drove away in her Hyundai (a Korean brand, made from Chinese, Korean, and U.S parts). She liked Melissa's car, a BMW (German, but made in the United States from Asian and European components). Over the following weeks, Julie and her exchange-student friend Anders (her favorite Norwegian import), met several times at restaurant featuring food from various countries, including France, India, and Lebanon. On Friday night, they watched The Dark Knight (made in Britain, Hong Kong, and the united States, and featuring Australian and British actors) on a friend's big-screen TV (a Dutch brand, but made in Indonesia). Over dinner, Julie and Anders enjoyed pasta from Italy and shrimp from El Salvador and chatted about their future. Julie was dreaming of an international career. Source: Cavusgil, S.T, Knight G, Riesenberger J. {2017). International Business. Pearson

Define globalisation

Answer 1

Globalization defines the interconnected nature of the world where businesses operate internationally, products are manufactured across borders, and economies are intertwined through trade.

Step-by-step explanation:

Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale, resulting in the interconnectivity of the world's economies, cultures, and populations. It manifests in various ways, such as the global marketplace where products are often designed in one country, manufactured in another, and sold worldwide. The emergence of global assembly lines is another example of globalization, where multiple countries may take part in the manufacturing process of a single product, such as Apple designing a product in the United States, sourcing components globally, and assembling the product in Malaysia. The factors of production—land, labor, capital, and entrepreneurship—are distributed around the globe, leading to a system where the final products are a result of international collaboration. We see this reflected in the diverse origins of goods ranging from technology to clothing and even our food. This vast international trade network significantly impacts economies, lifestyles, and business operations.