Globalization Notes: Definitions & Explanations PDF | Download eBooks
Study Globalization lecture notes PDF with total quality management definitions and explanation to study What is Globalization?. Study globalization explanation with TQM terms to review total quality management course for online MBA programs.
Globalization Definition:
Globalization means that a firm fundamentally changes the nature of its business by establishing production and marketing facilities in foreign countries.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Globalization Notes:
Globalization is an approach to capture international markets. The organization desiring to globalize establish a new facility in a foreign country with the actual production going on in it. These types of organizations are called multinational organizations. Due to the rapid economic growth worldwide, organizations of one country try to participate in the markets of other countries and get benefited from them. However, changing the location of a facility also changes the environment. When an organization starts operations in another country, the cost of resources usually change. This can either be an advantage or a disadvantage. For example, the cost of labor in most Asian countries is low, so a company establishing a facility in an Asian country will easily cut down its labor cost.
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