Final answer:
Tim Hortons opening stores in Mexico is an example of globalization, where the company is expanding its reach internationally. This is related to the concept of franchising, a business strategy used for expanding operations and maintaining brand presence across different countries.
Step-by-step explanation:
When Tim Hortons opens new stores in Mexico, this is an example of globalization. Globalization refers to the process by which businesses or other organizations develop international influence or start operating on an international scale. In this case, Tim Hortons is expanding its operations outside of its home country, likely seeking new markets and growth opportunities.
The concept of a franchise, where a company offers similar products or services in many locations, is relevant here as Tim Hortons uses this business strategy to maintain brand consistency and quality across its global stores. This type of international expansion can also be seen as the McDonaldization of society, where fast food chains like McDonald's become a symbol of how Western culture and business practices spread around the world. Moreover, when comparing with other multinational corporations (MNCs), this move illustrates how MNCs can impact local economies by providing access to new products, creating jobs, and potentially raising the standard of living.