The term 'globalisation'is used to describe a range of changes in the way the international economy works. There is no single phenomenon. Instead a range of structural changes in markets and societies are under way which affect, and reflect:
The behaviour and performance of firms which operate across several countries; relationships between firms across national boundaries; the increasing ability of consumers to access inter national suppliers; the international exploitation of intangible assets within firms, also accessible to consumers; the decreasing importance of geography in the choices firms make about where to carry out specific parts of their operations, how much of their operations they choose to do themselves,and how they finance them.
Published in web format: 10 September 2003 at 9:30 am
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