10th International Strategic Management Conference, Rome, Italy, 19 - 21 June 2014, vol.150, pp.1267-1276
Globalization has been one of the most prominent phenomenon of the 20th century that shaped the world economy dramatically. Globalization process is followed by the decline in administrative barriers to trade, sharp falls in the costs of transportation and communication, fragmentation of production processes and the development in information and communication technology which formed basis for diversification of resources, creation and development of new investment opportunities by opening up additional markets, and accessing new raw materials and resources.