Answer the following questions. 1. The term globalization can be defined in many ways (provide references for the definitions). List three definitions and provide an example of an aviation company that has recently or is in the process of globalizing. Cambridge University defines the term globalization as “the development of closer economic, cultural, and political relations among all the countries of the world as a result of travel and communication becoming easy” (Cambridge Dictionaries Online, 2015). Investopedia defines globalization as “the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange” (Investopedia,2015).- Business Dictionary defines globalization as “the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers” (Business Dictionary,2015). RyanAir is the Southwest airlines of Europe. They have managed to remain to be the largest low
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