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Today’s environmental scanning is not limited to domestic industry landscape--rather it has been already a global...

Today’s environmental scanning is not limited to domestic industry landscape--rather it has been already a global competition. Please provide your definition of global economic world. Discuss the strategic reasons for globalization of a business and value chain activities.  

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Global economic world is where economies of countries operate in a single larger market and exchange goods and services in that international environment. It is all countries agreeing to exchange good and services so that one entity which is not available in one country can be obtained from another and hence this would help the world in developing their economies and increasing employment opportunities. In this global environment , globalisation helps businesses in expanding from domestic level to international level . They get an opportunity to sell their products and services world wide and this will help them in generating more revenue. The countries also will have an opportunity to increase the value of the resources available and hence improve the value chain . Hence globalization is a good move for a business to develop improve it's value chain activities.

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