5 major key drivers are:
Market driver (companies consider the various market to invest- shift of open market economics)
cost driver (companies consider the various lifestyle of the country before considering the price of the product and services to rendered)
technology driver(increasing technology system,transportation, advancing in the level of world trade system)
governement driver(reducing trade tariffs and non trade tariffs, reducing the role of political policies)
competition driver(organisation becoming a global center,shift in open market system)
There are 4 drivers of globalization
There are many issues which are resulting as the driver of the globalization and they are playing important role in the globalization of products and services. First of all the decreasing and lowering of the trade and investment hurdles internationally is one of the important reason. After the establishment of the world trade organization in which many countries participated due to the free trade agreements in the countries around the world. After the establishment of GATT (General Agreement of Tariff and Trade) it is the trade agreement between the countries that are willing to carry the free trade around the world.
The aim of these tariffs was to protect the local industries of those countries. But now the scholars of prosperity have though that the world would be become more peaceful and good place to live in when all the countries and their representatives coordinate with each other. The benefit of this is to the countries who do not have much source to utilizes their resources so that they can attract the large foreign investment in their countries. The other reason is the Second World War which was held due to the economic gains and benefits between the counties. So this led to a new concept for the world.
Globalization is all about coming close of the people round the world. It is to reduce the distances among the people of the globe. It is to work together for the one world. It is about the development and nourishment of global village concept. It is about the closeness of each and everything round the globe.
There are many drivers of globalization. We may say that there are countless drivers of globalization but he very drivers of globalization ate media and communication. They have played a crucial role in the globalization round the globe. They may be defined as television, internet, newspapers, telephones, etc. All of them are accountable for globalization in one way or the other. It is doing so since last two centuries. Globalization was not here before discovery of new world in the end of 15th century. After that it has got impetus by the modes of transportation too but the animated role has been played by the communication systems by the help of satellites. This is going to have some new drivers in communication sector in the present and future age.
Developed money seeking countries, who want to make the mobility of capital easier, break market barriers, to capitalise on location and comparative advantages.