Which of the following is an effect of globalization?

The development of international influence for businesses is a significant effect of globalization. As markets open up and trade barriers lower, companies find new opportunities to expand beyond their local or national markets. This expansion leads to increased competition and innovation, as businesses adapt to meet the needs and preferences of diverse customer bases around the world.

Globalization encourages the sharing of ideas, technologies, and services across borders, which allows businesses not only to grow but also to influence global trends and practices. Consequently, companies can gain access to a broader range of resources, talent, and ideas. This dynamic enhances their operational effectiveness and allows them to establish a presence in multiple regions, further solidifying their international influence.

In contrast, increased economic isolation, reduction in cultural exchange, and a focus solely on strengthening local businesses do not accurately represent the realities of globalization, which typically fosters interconnectedness and a greater exchange among cultures and economies.