What Is The Privatisation And Globalisation?

Privatization is the process in which the ownership of business is transferred from public sector to the private sector. In other words, when a transfer of any government function takes place to the private sector like investors then it is privatization. For example, if in an economy foreign direct investments comes then creation of multinational companies is the privatization.

Globalization is the process of transformation of local activities into global activities. It is defined as the unification of global processes into a society. Standardization of activities like economic, technological, sociocultural and political laws and forces are some examples of globalization. Moreover, globalization increases the harmonization among the countries in the world.

Privatization is the process of giving up the government control and give up the state owned ownership to the private ownership. When privatization occurs, government or central bank sells the company's shares to a private entity as a result of which some private entities hold the voting rights and constitute major portion of Board of directors of the firm.

Globalization is the process of becoming global. A company opening its branches in other countries might be considered as global. Even if a company is exporting or outsourcing from other countries, then it will also be considered as global. MNCs, foreign direct investments, exporting, licensing etc are all stages of globalization.

It is an company which work is very erlier and comfortable.

Privatization is the process, the business is transferred from public sector to private sector. In other words more than 51%of the shares hold by private sectors.
Globalization is the process, the business activities processed in global level not in national level.