The globalization of the economy has led to industrial decisions based on _______.

Question

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The globalization of the economy has led to an increase in competition and pressure to maximize profits. Companies make decisions based on financial gain and increasing efficiency to remain competitive in the global market. Principles of business ethics and international cooperation may be considered, but ultimately the priority is to maximize profits. Tariff barriers are actually being reduced due to globalization, as countries work to promote free trade and eliminate trade barriers.

The Globalization of the Economy Has Led to Industrial Decisions