What are phases of globalization?

Transition 1: Modern humans leave Africa; Phase 1 begins: Humans colonise the world. Transition 2: Climate warms and stabilises; Phase 2 begins: Agriculture allows rise of ancient civilisations. Transition 3: Steam Revolution; Phase 3 begins: Trade costs drop, Old Globalisation starts, the Great Divergence appears.

What are the four flows of Globalisation?

In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge.

What are the four phases of globalization?

Four phases of globalisation

Phase 1: Humanising the globe (300,000 BCE–10,000 BCE)
Phase 2: Localising the global economy (10,000 BCE–1820 CE)
Phase 3: Globalising local economies (1820–1990)
Phase 4: Globalising factories (1990–present)

What are the 5 stages of globalization?

Stages in Globalization

Domestic Company. Market potential is limited to the home country.
International Company.
Multinational Company.
Global.
Transnational Company.

Which is the final stage of Internationalisation?

Stage 5: Investment abroad This final stage carries additional ramifications and responsibilities, beyond those of a company that is based elsewhere simply operating remotely in a foreign market.

What is the second stage of globalization?

The second phase of globalization covers the period of intensive internationalization of transportation systems, communications, commerce, science, and many other human activities that unfolded between the middle of the 19th century and the collapse of second phase globalization that resulted from the outbreak of war …

What is the Internationalisation process?

Internationalisation is the process of increasing the international activity of a firm. This could be though exports or the direct purchase of a factory in a new market. The Uppsala model is one of the best known models of how firms set about the internationalisation process.

What are two 2 examples of the means of Internationalisation?

Examples of means of internationalization are; A company that manufacture hair dryers must ensure that their products are compatible with different watts used in different countries. Accommodation of right-to-left languages in products.

How do firms internationalize?

Export and importing is the most common strategy that most firms use to pursue internationalization. Export is known as the process of selling services and goods to countries other than the domestic one [1]. The company can directly be involved in the export or use an agent.

Why do we internationalize?

The main reasons why internationalization is a good choice:

It grants a true independence from the local market business cycles.
Permits to access a broader market.
Helps to improve a general company’s image.
Enhances productive capacity.
Diminishes costs by virtue of enhancing productive efficiency.

How do you internationalize?

How to Internationalise Your Business

Choose Your Expansion Country.
Conduct a Market Analysis.
Plan Your Market Entry.
Evaluate Your Market Position.
Consider Your Targets.
Fine-tune Products and Services.
Evaluate Core Competencies.
Analyse Supply Chain and Value Chain Options.

Why do MNEs Internationalise?

Our case study proposes that EE MNEs (1) tend to nurture their capability in the domestic market as a base before internationalization; (2) prefer to enter markets with fewer barriers in cultural, technological, economic, and institutional distances to accumulate experience and move up the value curve; and (3) use …