Table of ContentsIntroductionGlobalizationEffect on Today's EconomyIntroductionIn my thesis, I plan to cover globalization, outsourcing, and the importance of geographic coverage for businesses global businesses as well as the many different factors that are considered when choosing to expand to a new location. Based on this, my research question will be: How important are globalization, outsourcing and geographic coverage for transnational corporations? Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get the original essay Globalization is the process by which businesses expand and thereby integrate international trade, investment, and cultures. Using globalization, companies can gain a competitive advantage by reducing operating costs, seeking new raw materials, and accessing a wider range of talent. Outsourcing is the agreement between two companies in which one company subcontracts part of an existing internal activity to another company (McCarthy and Anagnostou, 2004). I will examine how globalization and outsourcing play a major role in today's economy and explore the benefits. and the disadvantages of each. As my team recently outsourced a large portion of their processing functions and is now primarily a governance team, I see this as an opportunity to better understand the benefits that outsourcing has brought. When choosing a new location, the business must consider many factors, from location costs, geographic location in case of a natural disaster, accessibility and more . Multinational companies have offices all over the world. For example, Morgan Stanley has offices in 42 different countries (Morgan Stanley, 2018) and each of these offices will be strategically placed to maximize productivity and reduce costs. I will examine the factors that businesses consider when choosing to expand to new locations, including the use of the Follow the Sun (FTS) model, strategic positioning and efficiency, and find out which ones have the most influence. I will review and analyze case examples where companies have experienced challenges and struggles due to their implementation strategy, as well as recent industry trends on the same topic. To support my analysis, I plan to use a wide range of academic journals, books, and newspaper articles to expand my knowledge on the topic. In addition to this, I will be able to build on what I have learned in my modules in Parts A and B of my course. Globalization Globalization represents the worldwide integration of international trade, investment, information technology and cultures. (Investopedia, 2018) Globalization refers to the growing interdependence of world economies due to the increasing scale of cross-border trade in products and services, the flow of international capital, and the broad and rapid diffusion of technologies. (United Nations, 2000) The process by which companies or other organizations develop international influence or begin to operate internationally. (Oxford Dictionary, 2018) As the above definitions show, globalization has no absolute definition and remains largely a loosely defined theory. However, it is certain that this is a complex process which has widespread and varied impacts...