Identify main drivers of globalization.
There are many drivers of globalization. Understanding these drivers is important for any business to benefit from the effects of globalization and make a successful globalization strategy (Lascu, 1994). Some of the drivers of globalization are governments, corporate competition, and technological advancement.
Government is the most important driver of globalization. For any company to operate in a foreign country, it relies on the rules and regulations of both its country of origin and the country it wants to do business in. It is the government of a country that is capable of making trade deals with other countries to facilitate its companies to go to those countries and do business there. These economic treaties provide legal and financial cover to these companies.
Corporate competition also play an important role in globalization as any company that sees another company trying to make its presence in another company makes it motivated to do the same. The role of technology in creating a corporate competition environment cannot be ignored. The world has advanced technologically and many companies have been successful in innovating technologies that helps it go global. For example Apple has gone global with its iPhone which acted as a motivation for Samsung to produce quality mobiles and go global.