The process of globalization has certainly had many changing effects
to the world we live in; it has also changed the way many factors
operate. Globalization is said "to have transformed the structure and
scale of human relationships that social, cultural, political, and
economic processes now operate at a global scale with a consequent
reduction in the significance of other geographical scales.
Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations with subsidiaries in many countries.
Globalisation has resulted in many businesses setting up or buying operations in other countries. When a foreign company invests in a country, perhaps by building a factory or a shop, this is called inward investment. Companies that operate in several countries are called multinational corporations (MNCs) or transnational corporations (TNCs). The US fast-food chain McDonald's is a large MNC - it has nearly 30,000 restaurants in 119 countries.