summarize shorter The globalization of business is an important factor in today's business world, as companies increasingly participate in international trade. It plays a pivotal role in business strategy. Market Access: Businesses can reach a larger market through globalization, which allows them to increase revenue and expand their customer base. In addition to reaching new customers, expanding product and service offerings, and diversifying revenue streams, companies can reach new markets by entering international markets. Cost Efficiency: When companies can gain economies of scale, specialize, and access a broader range of resources through globalization, they can achieve cost efficiency. Sourcing raw materials, labor, and services from multiple countries can reduce costs and enhance company profitability. Using global presence, market knowledge, and resource access to gain a competitive advantage is the essence of globalization. Using globalization to gain a competitive edge on the market can result in innovative products, enhanced customer service, and enhanced customer experience