introduction

Globalization, maybe the most abused word in the 21Th century, defined by the economists,has meant so many different things to different people and evoked as much emotion (Chanda,2002). To understand what it means and its effects to a business enterprise, globalization has to be examined by the terms of global firms, its competitive, commercial factors and its approaches to the technology. On one side ,some have argued that global corporations have become a holocaust and destroy local business' and also violating labour rights. On the other hand, however, it can be argued that the movements of capital and labour, integration between multinational corporations etc. ensures competitive advantages which they also could benefit from economies of scale and cost efficiency. this essay will argue that both sides of the debate and have a point to the main effects of the globalization through the leading business functions.