IndexIntroductionGlobalizationEffect on Today's EconomyIntroductionIn my thesis, I intend to cover globalization, outsourcing and the importance of geographic coverage for global companies and the many different factors that are considered when choosing to expand into a new location. In light of this, my research question will be: What is the importance of globalization, outsourcing and geographic coverage for transnational corporations? Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Globalization is the process by which companies expand and thereby integrate international trade, investments, and cultures. By using globalization, companies can gain a competitive advantage by reducing operating costs, seeking new raw materials, and accessing a broader range of talent. Outsourcing is the arrangement between two companies in which one company contracts out a part of an existing internal business to another company (McCarthy and Anagnostou, 2004). I will examine how globalization and outsourcing play an important role in today's economy and investigate the pros and cons of each. Since my team recently outsourced much of its processing functions and is now primarily a governance team, I see this as an opportunity to gain insight into the positives that outsourcing has brought. When choosing a new location, the company must take into account many factors, from location costs to geographic location in case of natural disasters, accessibility and many others. 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 located to maximize productivity and reduce costs. I will examine the factors that companies consider when choosing to expand into new locations, including the use of the Follow the Sun (FTS) model, strategic positioning and efficiency, and find out which ones have the greatest influence. I will review and analyze examples of cases where companies have struggled and struggled due to their localization strategy, as well as review recent industry trends on the same issue. To support my analysis, I intend to use a wide range of academic journals, books, and newspaper articles to gain broader knowledge on the topic. Furthermore, I will be able to build on what I have learned in my Part A and B modules of my course. Globalization Globalization represents the global integration of international trade, investment, information technology, and cultures. (Investopedia, 2018) Globalization refers to the growing interdependence of world economies as a result of the growing scope of cross-border trade in commodities and services, the flow of international capital, and the widespread and rapid diffusion of technologies. (United Nations, 2000) The process by which businesses or other organizations develop international influence or begin to operate on an international scale. (Oxford Dictionary, 2018) As seen in the definitions above, globalization does not have an absolute definition and for the most part remains a loosely defined theory. One certain fact, however, is that it is a complicated process that has widespread and diversified impacts on both developed and developing countries. In this section, we will discuss some of the pros and cons of globalization, as well as the effects it has on today's economy. Effects on Today's Economy The biggest changes in the economic environment of any.