Reflections and Conclusions
Globalization has been, and will continue to be, a continuously evolving phenomenon. The trade merchants of the past had to react to the changes in the world as events around them propelled the growth and expansion of their commercial interests. Today, managers of business institutions must also deal with the observable fact that globalization, in the modern context, has “replaced the Cold War” as the prime international sociopolitical economic system and “is not a trend nor a fad.”1 Over the course of human history, however, as the process of globalization took root encompassing more and more of the world, the prodigy has always been driven by four prime components along with the fifth fueling factor: ...
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