Globalization refers to the process where countries transition from traditional to industrial economies, leading to significant socio-economic changes. The primary aim is to offer organizations a competitive edge by reducing operational costs and expanding market reach.
Globalization is a process of accelerated socio-economic transition from the traditional stage of development to the industrial one, with a predominance of industrial production in the economy.
The goal of globalization is to provide organizations a superior competitive position with lower operating costs, to gain greater numbers of products, services and consumers.