#3) The characteristics of globalization are integrated through a global network of communication, transportation, and trade. Competition is becoming increasingly global and the ability to compete head-to head in all major markets is essential for success. Time plays a big role in glogbalization. Global production is bringing a new global rationalisation of production, coordination, combination and accumulation of assets. When dealing with globalization there is substantial national and regional structural adjustment.
The Characteristics of knowledge economy increasing role of knowledge as a factor of production and its impact on skills, learning, organisation and innovation.
Globalization increase competition in many ways but one being that you are sellin your product to alot more people. Not being global would mean that your product would only be known by a select number of people rather than the entire world.
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