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Competition has a local scope and does not go beyond a certain territory. Key competitive advantages in such conditions are providd by the existence of high barriers to entry into the industry, limitd access to raw materials, and the availability of cheap labor and capital. The era of knowldge has several distinctive features. The modern economy is characterizd by an innovative nature, high-tech industry, a large share of the contribution of the service sector to the formation of world GDP.

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The latter is due to the fact that industrial production has reachd a sufficiently high level of technical equipment and no longer requires a large number of workers to ensure the technological process, and this causes an outflow of labor Yahoo Email List to the service sector. Today, the external environment of companies is quite aggressive, unstable, and therefore unprdictable. Competition is on a global scale. And now, being in Ukraine, you ned to think about China, the Unitd States of America and other countries where competitors may appear. The process of globalization has been rapidly developing since the middle of the 20th century.

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The modern period is characterizd by a high level of integration at the macro and micro levels. Integration is the highest level of development of international economic relations. Their development contributd to the formation of BQB Directory transnational corporations, the world economy and the world market. Due to globalization in the world, there is a growing interdependence of countries and peoples. This fact has a twofold effect: in an interconnectd global system, negative or positive processes in any one country affect the socio-economic processes in other countries. A vivid example is the debt crisis in Greece that began in 2010, which significantly shook the financial position of other countries of the European Union. The globalization of the world economy implies a free exchange of goods and services.