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Globalization of Markets

Govil S. K., +1 more
- 01 Jan 2013 - 
- Vol. 6, Iss: 6
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TLDR
The globalization of markets and manufacturing has vastly increased international competition with respect to almost every product all over the world as mentioned in this paper, which is the ability to produce and/or sell goods/services in global markets in open competition with others.
Abstract
Globalization means the ability to produce and /or sell goods/services in global markets in open competition with others. Only the fittest will survive in open competition. There exists comprehensive foreign competition with respect to almost every product all over the world. The globalization of markets has vastly increased international competition. While pursuing the strategy of globalization, the firms have to face the challenges of managing human, technological, physical resources in the foreign markets. The globalization of markets and manufacturing has vastly increased international competition.

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The globalization of markets has significantly increased international competition in the blasting equipment manufacturing industry, challenging firms to manage resources effectively in foreign markets.

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