Globalization is no longer an abstraction but a stark reality,
that virtually all firms, large and a small, face. Firms that want
to survive in the 21st century must confront this all encompassing
force that pervades every aspect of business. In a wide range of
industries from automobiles to food and clothing, firms face the
pressures of global competition at home as well as in international
markets. Choosing not to participate in global markets is no longer
an option. All firms, regardless of their size, have to craft
strategies in the broader context of world markets to anticipate,
respond and adapt to the changing configuration of these
markets.