INTRODUCTION

• The phenomenon of globalization is a fact of life.
• The daily press is filled with reminders of how the world organizations have taken on a global focus.
• International and national news reports frequently mention such matters as international trade, foreign exchange rates, losers and gainers in the stock market, currency fluctuations and oil price hike.
• It is common to read about Japanese companies making way in the United States and European markets and vice versa.
• This means that our world is no longer isolated as we are participants in all these global activities. Our home is filled with global products ranging from gadgets to audio and video equipment including our mode of dressing and the foods that we consume
• Today, it is not unusual for a global organization with headquartersin Japan, United States, Germany, and United Kingdom to oversee manufacturing operations in Singapore, India, South Korea, and even in Third World countries such as the Philippines and Indonesia. It is not just large corporations that have a global focus. For instance, Jollibee has expanded its network in some parts of Asia and the United States.
• International and national news reports frequently mention such matters as international trade, foreign exchange rates, losers and gainers in the stock market, currency fluctuations and oil price hike.