Final answer:
Companies seeking global expansion look for new opportunities that allow for increased growth and profits. They often look for cheap labor and resources and benefit from the forces of globalization which increases competition. Governments play a role in facilitating this expansion by providing supportive policies and technology access.
Step-by-step explanation:
When companies look to expand globally, they search for new opportunities that can enhance their growth and increase profits. Ease of access and development across borders is essential due to the significant role global companies play in the success of the global market. At the World Economic Forum in Davos in January 2023, trade ministers from various countries proposed solutions to facilitate easier cross-border business operations.
Companies often seek out cheap labor and resources to maximize profitability, contributing to what is now a second major wave of globalization. This can be seen as a form of neocolonialism or corporate colonialism, where multinational corporations introduce opportunities but also face criticism for potentially exploitative practices. However, in many developing countries, there are long waiting lists of individuals hoping to work for these multinationals, indicating a demand for such employment.
Moreover, the forces of globalization and advancements in communications and information technology have spiked competition for many firms, encouraging them to pursue international expansion. Governments have taken proactive steps by seeking advanced technology, training students, and creating supportive policies for companies seeking to build facilities that utilize abundant and affordable human capital, thus improving the prospects for economic recovery and development.