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Introduction Globalization changes power relationships At the level of international relations it changes the power of developing countries relative to that of developed countries At the level of domestic politics it changes the power relations among government business and civil society Most fundamentally it changes the prospects for peace--both within countries and between them Globalization has become one of the principal symbols of economic cultural and political life in the 21st century Although there is no precise definition of globalization due to the complexity of the term and the varying attitudes towards it put simply it is the process by which nationality is becoming all the time more irrelevant International organizations such as Coca Cola Disney McDonalds Sony Shell Oil and IBM symbolize such a process As the globalization of business continues organizations must be analyzed and managed in a new way Behavior structure and process are all crucial to the successful operation of an enterprise Globalization is defined as this interdependency of transportation distribution communication and economic networks across international borders Globalization of economy A big part of globalization is also the Global Economy World Economy is operating of the entire globe with boundaries far larger then that of any political unit where there is an ongoing social division of labor with an integrated set of production that relate to each other through market Brown There are three major economic perspectives that describe different point of views on economy in the state and nation The first one is economic nationalism In other words its economic realism Economic nationalism assumes that politics should be a primary concern of economics Nationalists say that state should act on its own best interest in market National interest is the number one factor DrButenhoff Nationalists believe in the primacy of the state its security and military power in order for it to work in international system Second perspective is economic liberalism It assumes that markets should be
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