Quiz 1: Globalization and the Multinational Corporation

Business

By taking, Siemens, a globally operated firm as an example, when visited its web www.siemens.com, found that, it has worldwide operations covering over 190 countries, with about 370,000 employees working globally as of September 2012 and recently had acquisitions of Rugged Com Inc., Canada , Invensys Rail., Great Britain etc.,

Globalization: Globalization is a process of expansion in which countries are eventually connected to and integrated with the rest of countries, corporations, and people all over the world through technology, products, travel, companies, within the terms of their economic, political and social activities. Globalization has proceeded in its way of trade and finance respectively through the process of trade in goods and Trade Markets such as capital, financial, money etc. Globalization has proceeded in trade in goods and services versus capital markets in the following manner: Globalization through Trade of goods and services happened through countries by reducing trade barriers unilaterally with the help of Trade liberalizations by formation of regional arrangements such as European Union and also through multilateral action within the context of GAAT. Globalization through capital markets happened with the abolition of capital controls and globalizing financial markets with the trade of derivative securities worldwide in which the underlying assets and their prices are traded such as commodities, exchange rates, etc.

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