Quick Summary
Diagram
Important Table
| Point | Meaning | Example / Use |
|---|---|---|
| Technology | Fast communication and transport | Internet, logistics |
| Trade Liberalisation | Reduced trade barriers | Lower tariffs |
| Competition | Firms search new markets | Global expansion |
| Consumer Demand | Demand for global products | Smartphones, fashion |
| Investment Flows | Movement of capital | FDI and MNCs |
Best 10 Marks Answer
Drivers of Globalisation is an important topic in International Business Environment. It helps managers understand how global economic, political, legal, cultural and technological forces affect business decisions.
Drivers of globalisation are the factors that encourage firms and economies to operate internationally and become interconnected.
In international business, this concept is useful because firms operate across countries where markets, laws, currencies, cultures and competition are different. A business must analyse these factors before entering a foreign market or expanding globally.
For example, a company planning to sell products in another country must study customer culture, exchange rate, trade barriers, legal rules, political stability and local competition.
Conclusion: Therefore, Drivers of Globalisation helps businesses reduce risk, identify opportunities and make better global business decisions.
Tips and Tricks to Remember
- ✅ Use bullet points for drivers.
- ✅ Connect technology with digital globalisation.
- ✅ Mention WTO and liberalisation if needed.
Practice MCQs after reading
Revise this concept and attempt mock tests for better exam preparation.
Start International Business Test Series