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Globalisation or globalization is an umbrella term for a complex series of economic, social, technological, cultural and political changes seen as increasing interdependence, integration and interaction between people and companies in disparate locations. As a term 'globalization' has been used as early as 1944 but economists began applying it around 1981. Theodore Levitt is usually credited with its coining through the article he wrote in 1983 for the Harvard Business Review entitled "Globalization of Markets". The more encompassing phenomenon has been perceived in the context of sociological study on a worldwide scale.
The term "globalization" is used to refer to these collective changes as a process, or else as the cause of turbulent change. The distinct uses include:
• Economically and socially positive: As an engine of commerce; one which brings an increased standard of living — prosperity to developing countries and further wealth to First World and Third World countries.......

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Approximate Word Count: 2868
Approximate Pages: 12 (250 words per double-spaced page)

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