chapter 2 - Key Points Chapter 2 1. Define globalization,...

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Key Points – Chapter 2 1. Define globalization, describe how it evolved over time, and describe the key drivers of globalization. Globalization is the integration of economies throughout the world, fueled by technological progress and innovation. Over the past centuries, globalization has come a long way; starting with Columbus’s discovery of America, globalization 1.0 was fueled by power. Then, in 1800, globalization 2.0 started, fueled mainly by a fall in transportation and telecommunications costs. Globalization 3.0 started in 2000 and was enabled by the convergence of a number of enablers, namely, the fall of the Berlin Wall, Netscape going public, work flow software, uploading, outsourcing, off shoring, supply chaining, in-sourcing, in-forming, and “the steroids”. This has led to a rise in outsourcing and has helped to shape the world as we know it today. 2. Describe the emerging opportunities for companies operating in the digital world. Companies operating in the digital world see a number of opportunities, many of which are enabled by Globalization 3.0 For companies, the primary opportunities are the access to new markets for their products and services as well as the access to a talented labor pool in countries with lower wages. 3. Explain the factors companies have to consider when operating in the digital world. In addition to the opportunities, operating in the digital world also poses a number of challenges to companies. The first broad set of challenges is of governmental nature and includes challenges
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chapter 2 - Key Points Chapter 2 1. Define globalization,...

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