Globalization is a process of doing business worldwide developing an international presence or starting operating in a variety of countries. Global and international considerations impact virtually all strategic decisions, such that strategic decisions are made based on the global profitability of the firm rather than just domestic considerations. A global strategy seeks to meet the needs of customers worldwide, with the highest value at the lowest cost. This may mean locating production in countries with lower labor costs or abundant natural resources, locating research and complex engineering centers where skilled scientists and engineers can be found, and locating marketing activities close to the markets to be served (David, David & David, 2020). Globalization and international considerations have led to more connections among financial markets and businesses around the world, as well as increased opportunities. A global strategy includes designing, producing, and marketing products with global needs in mind rather than considering just a home country and integrating actions against competitors into a worldwide strategy plan (David, David & David, 2020).
Do you agree. Please explain.