Globalization refers to the increasing integration of economies and societies around the world through cross-border movement of goods, services, technology and information. It has several key features including liberalization, free trade, and increased economic and political cooperation between countries. Globalization occurs in stages as companies expand from domestic to international and eventually multinational or transnational operations. While globalization has positive impacts like business growth and technology advancement, it also has potential negative effects such as rising inequality, environmental issues, and loss of local business.

1. FEATURES of GLOBALISATION

2. Flow of content
 Introduction: What is globalization?
 Globalization: Background
 Globalization Theory
 Theories of Globalization
 Salient Features of globalisation
 Stages in globalization
 Impact of globalisation:- Positive and Negative
 Conclusion

3. Introduction
 Globalization is the free movement of goods, services and
people across the world in a seamless and integrated
manner. Globalization can be thought of to be the result of
the opening up of the global economy between nations.
 Globalization is grounded in the theory of comparative
advantage which states that countries that are good at
producing a particular good are better off exporting it to
countries that are less efficient at producing that good.

4. Globalization: Background
 Globalisation is the process of international integration arising
from the interchange of world views, products, ideas, and
other aspects of culture.
 Globalisation means rapid increase in the share of economic
activities taking place across national borders.
 globalization can also mean that countries liberalize their
import protocols and welcome foreign investment into sectors
that are the mainstays of its economy.

5. Theories of Globalization
1. Economic: Countries that trade with many others and
have few trade barriers are economically globalized.
2. Social: A measure of how easily information and ideas
pass between people in their own country and between
different countries (includes access to internet and social
media networks).
3. Political: The amount of political co-operation there is
between countries.

6.  The progress of industrial resolution is the 20th century was accompanied
by a replacement of the police state by a welfare state.
 Around 1985, Indian economy began showing big strains. Indian public
sector now appeared to be a liability and foreign exchange reserves came
to be in very bad shape.
 The socialist economies, in particular, the Soviet economy and
political system, was collapsing. Even Perestroika and Glasnost
could not save the USSR. It collapsed as a state.
 July 1991 the Government of India decided to go in for
liberalization of economy.
Nature of Globalization

7. Salient Features of globalisation
 Liberalization
 Free Trade
 Globalization of Economic Activity
 Liberalization of Import – Export system
 Privatization
 Increased Collaboration
 Economic Reforms

8. Stages in globalization
 Domestic Market
 World Market
 Multinational Company
 Global
 Transnational Company

9. Domestic Market
1. Their focus remains with domestic market.
2. Their productions facilities remain based in home country. Their
analysis is focused on the national market.
3. They do not think globally and avoid taking risk in going global.
4. Their top management may have traditional kind of business
management competency and less global expertise.
5. They perceive that there is risk in expanding into global market
and thus they try to play safe and satisfied with whatever gains
they are getting in domestic market.

10. International Market
1. Focus on going beyond domestic
2. Their management remains ethnocentric with a vision to expand
internationally. They extend their domestic products, domestic
prices and other business practices to foreign countries.
3. They keep their marketing mix constant and extend their
operations to new countries.
4. Their management style remains centralized for their home
nation and extended top down to the overseas market country.

11. Multinational Company
1. Companies when they spread their wings to more nations
become multinational companies.
2. Sooner or later they realize that they have to change their
marketing mix according to the foreign market.
3. This can also be termed as multi domestic, in which different
strategies are adopted for different market.
4. The management of such companies remains decentralized and
even production may be in the host country.
5. Performance evaluation is done at different host countries.

12. Global
1. Such companies have a global marketing strategy.
2. They either produce in home country or in a single country and
focus marketing globally.
3. They adapt to the market conditions according to the foreign
market.
4. Their performance evaluation is done worldwide.

13. Transnational Company
1. Transnational companies have a geocentric approach, which
means they think globally and act locally.
2. Transnational companies collect information worldwide and scan
it for use beyond geographical boundaries.
3. The vision of such to grow more in a global way.
4. The R&D, management, product development are shared
worldwide.
5. Their human resources procurement and development remains
globally.

14. Impact of globalization: Positive
 Rapid growth of business.
 Opportunity to go global.
 Introduction of various new technology.
 Rise in access of technology in rural area.
 New technology in the
agriculture
 Literate farmers
 Rise in the literacy rate

15. Impact of globalization: Negative
 Disparity in the society
 Ethical responsibility of business has been
diminished.
 Price hike of every daily usable commodities.
 The local business has perished
 High growth but problem of unemployment.
 Affected the agriculture sector

16. Conclusion
 Globalisation had increased the trade of products, ideas,
technologies etc. and created the world without boundaries
but it also had some negative impact on the developing
countries.
 Flowing with globalization ,India is shining in nearly every
Prospects. India is getting a global recognition and slowly
moving towards to become a major economic and political
strength.
 Though the development is progressing rapidly, still many
basic problems like rural poverty, corruption and political
instability remained unsolved.