1. Globalization 1) A multidimensional set of social process that create, multiply, stretch, and intensify worldwide social interdependencies and exchanges while at the same time fostering in people a growing awareness of deepening connections between the local and the distant. 2) Globalization helps organizations to enter new markets, exploit technological advantages and reduce business costs and risks.

2. The phenomenon of globalization 1) The worldwide integration in virtually every sphere achieved principally through markets. 2) A process whereby the world becomes more interconnected and the fates if those people and organizations in it become more intertwined. 3) In business terms, globalization means business without frontiers, boundaries and dealing with the world, not just the home base.

3. Characteristic of economic globalization 1) Globalization has a technical core, which is organized in terms of flow of inputs, their distribution globally, transformation, and outputs, organized through global supply chains. 2) The internationalization of financial markets and corporate strategies. 3) The diffusion of technology, R & D, and knowledge worldwide. 4) The emergence of global media.

4. What is consequence for a company becoming global? 1) The more likely a company is to loss its own identify within a tangle of other companies, alliances and markets.

5. Which one of the following is a plausible example of national states’ still having control over globalization? 1) Digitalization drives globalization, making digital data easily available anywhere in the world, but national laws limit its reproduction.

6. Corporate globalization work 1) The integration of technology and facilitated by telecommunications and ease of transport. 2) Transnational or multinational organizations that