Business Environment, 1st Edition by Pearson

In India, as in the rest of the world, there is a growing awareness

that capital markets and corporations are, after all, created by soci-

ety and must therefore serve it, not merely profi t from it. In the age

of globalization, corporations and business enterprises are no lon-

ger confi ned to the traditional boundaries of the Nation–State. One

of the key characteristics of globalization is the spread of the market

and the change in the mode of production—the centralized mode

has given way to a highly decentralized one that has spread across

the world. In the last 20 years, multinational corporations have

played a key role in defi ning markets ...