Author Question: List and describe three factors that have led to increased ... (Read 59 times)

codyclark · **on:** Jun 23, 2018

List and describe three factors that have led to increased globalization.

Question 2

Claim messages are never routine because the basis for the claim is a guarantee or some other assurance that an adjustment will be made without need of persuasion.
Indicate whether the statement is true or false

kkenney · **Reply #1 on:** Jun 23, 2018

Answer to Question 1

Mature local markets: Many companies are increasingly looking overseas as domestic markets mature. They can no longer expect increased sales growth at home.

Favorable trade agreements: A significant factor in the expansion of global markets is the passage of favorable trade agreements. The General Agreement on Tariffs and Trade (GATT) promotes open trade globally, and the North American Free Trade Agreement (NAFTA) expands free trade among Canada, the United States, and Mexico. NAFTA has created one of the largest and richest free-trade regions on earth. Additional trade agreements are causing markets to expand.

Robust middle classes in emerging economies: Parts of the world formerly considered developing now boast robust middle classes. Once known only for cheap labor, many countries with emerging economies are now seen as promising markets. Estimates suggest that 70 percent of world growth over the next few years will come from emerging markets.

Advancements in transportation and logistics: Of paramount importance in explaining the explosive growth of global markets are amazing advancements in transportation and logistics technology, including supersonic planes that can carry goods and passengers to other continents overnight. Breakthroughs in transportation technology, such as digital wireless sensor telemetry, also push the drive toward globalization.

Growing reach of information and communication technologies: Probably the most significant factor fueling globalization is the development of information and communication technologies (ICT), which have changed the way we live and do business. ICT includes the Internet, wireless networks, smartphones, mobile electronic devices, and other communication media. High-speed, high-capacity, and relatively low-cost communications have opened new global opportunities that make geographic location virtually irrelevant for many activities and services. Workers have access to company records, software programs, and colleagues whether they're working at home, in the office, or at the beach. The world's new economic landscape enables companies to conduct business anytime, anywhere, and with any customer.

Answer to Question 2

False