Globalisation
In business, globalisation refers to companies operating internationally or on a global scale. This involves most of the world’s economies working together to provide and produce goods and services. The three main elements of globalisation are , and business location.
Globalisation involves businesses buying and selling around the world, often due to the cost or availability of products or cheap labour. Additionally, some products have a reputation for being from a certain part of the world, so versions of the product from that location may be highly desired. For example, pizza and pasta originally came from Italy, so people in other countries may be willing to pay more for Italian brands of these products.
The process of buying from and selling to overseas countries is also known as .
