Global Value Chains, Globalization, and Development

Global Value Chains, Globalization, and Development
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Global Value Chains, Globalization, and Development
Definition of Global Value Chains, Globalization, and Development
Global Value Chains
Global value chains are the collection of events that organizations need to convert an item from its original state to a final product that consumers require. The stages of the activities include designing, marketing, and delivery to the end user (Timmer, Erumban, Los, Stehrer, & de Vries, 2014). It also comprises the individuals and actions that firms take when manufacturing the products, their worldwide level distribution, and after-sales' services.
Globalization
Globalization is the procedure that institutions use to come up with worldwide influence or begin to do business activities on an international level. Globalization involves the worldwide relationship that exists between individuals, businesses, and governments.
Development
Development is the procedure that countries use to enhance the financial, political, and social welfare of their citizens.
The contribution of Global Value Chains to the Globalization and the Development
Contribution to the Globalization
The global value chains (GVCs) structure helps people to know the organization of international businesses th...