Discuss the main drivers of globalisation

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 · Whilst there are many factors that have contributed to globalisation, it is the actions of businesses that have done most to accelerate the process in recent years. Influential commentator Hamish McRae has stated that businesses are the “main driver” of globalisation. Why is this? These flatteners or drivers of globalization include the rapid spread of IT and communications across the world, the massive investment in broadband technologies or enablers like fiber optic cables and undersea cables in the wake of the dotcom bubble and the adoption of English as the medium of instruction in many countries across the world. Drivers of Globalisation The four main areas of drivers for globalisation are market, government; cost and competition (see Figure 1). These external drivers affect the main conditions for the potential of globalisation across industries, which are mainly uncontrollable by individual firms.

Explain what is meant by the term globalisation. Identify and analyse the key drivers of the process of globalisation over the last twenty years. During the mid ’s the International Monetary Fund has defined globalisation as: ‘The growing interdependence of countries world-wide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology. Some of the drivers of globalization are governments, corporate competition, and technological advancement. Government is the most important driver of globalization. Five Major Drivers Of Globalization - serverilida. Table of contents 1 Introduction 2 Drivers of Globalization 3 Theories and Models of Gobalization and International Trade From mercantilism to Smith and Ricardo Ricardo to the next step: Factor Proportions Theory and the Leontief Paradox Vernon Life-Cycle Theory Porter’s Diamond Approach Monopolistic Advantage Strategy Eclectic Theory 4.

Some of the important forces behind globalization are shown in. Figure Acts as a main driver to facilitate globalization. What Is Globalization? Therefore, population mobility especially of labor and Financial flows are important drivers of globalization. In my opinion, there are three main drivers for. Thus, we can say that, market convergence, competition, exchange rates and cost advantages are the key drivers of globalization.