5 key drivers of globalization

 · The primary drivers of globalization are rapid advancements in technology, culture, economics and politics. With each passing year, the speed at which transactions take place and the spreading influence of cultural forces serve to integrate international societies. The most prominent driver of this trend is the advancement of www.doorway.ruted Reading Time: 2 mins.  · The media and almost every book on globalization and international business speak about different drivers of globalization and they can basically be separated into five different groups: Technological drivers. Political drivers. Market drivers. Cost drivers. Competitive drivers. Globalisation Drivers. Explain what is meant by the term www.doorway.rufy and analyse the key drivers of the process of globalisation over the last twenty years. During the mid ’s the International Monetary Fund has defined globalisation as: ‘The growing interdependence of countries world-wide through the increasing volume and variety of cross-border transactions in .

Drivers of the globalization of firms include government, competition, cost globalization and market drivers. Globalization has also been driven by technology, including use of the Internet, mobile phones and satellite-tracking technology. Government globalization drivers include common product and technology standards, a benign regulatory climate and favorable trade policies. In my opinion, there are three main drivers for economic globalization and its different characteristics such as trade (see figure 1), international capital markets, currency markets, migration and more: Demography: The size of the population of a country is important for factor endowment differences between countries. If a certain economy has a large number of workers but only a small stock of physical capital, the country is labor-abundant and capital-poor. Answer (1 of 10): 5 major key drivers are:Market driver (companies consider the various market to invest- shift of open market economics)cost driver (companies consider the various lifestyle of the country before considering the price of the product and services to rendered)technology driver(increasing technology system,transportation, advancing in the level of world trade system)governement driver(reducing trade tariffs and non trade tariffs, reducing the role of political policies.

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