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One of the most significant new challenges for businesses is globalization, which can be explained as the merging of national economic systems into one huge global marketplace. (Marsden, 2008).
Because organizations are no longer constrained by national borders, the tastes and preferences of consumers from around the world are beginning to converge. Globalization has also led to the interdependence of national economies; a change in the economy of one country can quickly affect the economies of other countries. Through advances in communications and the removal of trade barriers, multinational companies have been able to access new markets as well as cheaper capital, materials, and labor...
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