In business, globalisation means operating on an international scale to provide or produce goods and services. Almost all of the goods we use are made of parts sourced from around the world.
Chris and Julie talk about the impact of globalisation for their business
In business, globalisation refers to companies operating internationally or on a global scale. This involves most of the worldâs economies working together to provide and produce goods and services. The three main elements of globalisation are importGoods or services which enter a country., exportsProducts and services produced by a country and sold to other countries around the world. and business location.
Globalisation involves businesses buying and selling around the world, often due to the cost or availability of products or cheap labour. Additionally, some products have a reputation for being from a certain part of the world, so versions of the product from that location may be highly desired. For example, pizza and pasta originally came from Italy, so people in other countries may be willing to pay more for Italian brands of these products.
The process of buying from and selling to overseas countries is also known as international tradeThe buying and selling of goods and services between different countries..