What does the term "globalization" imply?

The term "globalization" refers to the increasing interdependence and interconnectedness of economies, societies, and cultures across the globe, particularly regarding businesses. This process involves the integration of markets and trade, the spread of technology, and the flow of information, capital, and labor across borders. When businesses operate internationally, they often adapt products and services to meet diverse needs while also influencing and benefiting from different markets.

This explanation aligns with the correct understanding of globalization as a phenomenon that fosters collaboration and exchanges between enterprises around the world, breaking down barriers and encouraging the flow of goods, services, and ideas. In contrast, other options suggest negative or limited perspectives on globalization, such as a decline in international business, a narrow focus on local business expansion, or the isolation of cultures, which do not capture the comprehensive nature of globalization.