A critical analysis of the following statement 'Globalisation is not important as in reality most international firms operate on regional or local basis'

Essay from the year 2010 in the subject Economics - International Economic Relations, La Trobe University Melbourne, language: English, abstract: Executive Summary Considering the given statement, we have to consider, if it is true, that globalization is not important, then why should we look at globalization? The statement includes truth since actually most of them seem to operate in a region, but is this really the sole answer? First of all, one statement has to be made to clarify the issue: globalization is important as it is a trend that is characterized by denationalization in which national boundaries are becoming less relevant. But on the other hand there is not such a thing as a global strategy that never has to be adapted to several or even all of the markets MNCs operate in. That is why in this essay the argument is put forward, that globalization is not vitally important to international firms. The essay concludes that globalization for international firms is important, but that there is still the urgent need to redefine their global strategy, as they have to differ from country to country and adapt to local needs and practices.