Abstract

“Globalization is a process of free movement of goods, services, people, capital, and information across national boundaries without any barriers.” Globalization is a process of integration of the world as one market. Integration of domestic economy with world economy through reduction of barriers to movement of goods, capital, technology and people. Three important perspectives of globalization are: Business executive: globalization refers to a strategy of crossing national boundaries through globalized production and marketing networks. To an economist: globalization refers to an economic interdependence between countries covering increased trade, technology, labour and capital flows. To a political scientist: globalization refers to an integration of a global community in terms of ideas, norms and values.