Today in class we discussed about Globalization, which is; "The process of interaction and integration among the people, companies, and government of different nations, a process driven by international trade and investment and aided by information technology." (dictionary.com).
This term has been popularized as "Americanization" because America has expanded tons of their businesses across Oceans to distant lands. Food chains like MC. Donald's are a common cite in a handful of countries, despite the fact that it was originally founded in America.These food chains can adapt their menus depending in which country they are located in, but they also can have some negative impacts, such as affecting local culture and businesses. But they also provide benefits on both sides. A business that spreads over the world can significantly increase the owner's profit, and provide the people in that region with multiple jobs, decreasing the number of poor people in a country. This statement can be questioned though, because in other countries, these businesses can pay below minimum wage to increase their profit.
Anyway, the business world is full of wonders....
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