Economic development in any country in the era of globalization is a result of the healthy integration between natural resources adequate trained skill and motivated human resources
Adequate financial and real saving capital and investment and entrepreneurial drive and innovations.
It naturally depends on the efficient management of economic factors. The industrialization has an important role to play in the process of economic development.the developed countries are largely industrial economics while the developing countries depend upon agriculture.the process of industrialization is criticize by the dynamic integration between demand and supply factors. On the demand side, the size of the market is an important determinant of the industrialization process.in a supply-side, the level of resource mobilization, the pattern of resource allocation, the model of resource utilization, and the potential of resource creation shape the possibilities of industrialization in the era of globalization.
The globalization of trade and technology is leading all business operations to cut across conventional transitional borders towards evolving global business culture.new revolution in the business process taking place all over the world. This transformation process causes certain mergers and acquisitions, alignments, alliance and amalgamations of operations and ideas including a conversation of resources to rejuvenate and re strength the operations to match the ever-changing social order. These operations are typical of the globalization process.
Many organizations view globalization as the transformation process. Even many top guns of the industry have fallen prey to misconceptions as can be seen from the mad rush for new alliances all over the world.Achieving business transformation through the process of globalization alone would yield only temporary results. Forgetting long-lasting results, the business transformation has to be supported by appropriate quality strategy and supplement by suitable development strategy.
Prof. Dr. Rashmi Gujrati,
Professor -Principal (KCSMCA) India.
Regulatory Board member of In Traders Academic Platform
Member ICA, IAA, AICP- India
FSSER-Malaysia
AASE -Taiwan,
IBIMA- Spain
