?Generally speaking, globalization and the phenomenon of denationalization, interaction and integration of markets, politics and legal systems of different countries and governments. Advanced transportation and telecommunication, including the advent of internet, play a major role in contribution to globalization. Globalization comprises global business organizations, economic globalization and social- cultural globalization. With improvements in transportation and communication, international business grew rapidly after the beginning of the twentieth century. International business arrangement has led to the emergence of multinational companies, companies which headquarters are located in one country, but they have daughter companies operating in one or more different countries. For instance, the head office of the Coca-Cola Company is located in the USA, but it has companies located in Europe and Asia, that produce products with its trademark. Further, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace. Economic globalization comprises the globalization of production markets, competition, technology, and corporations and industries. A result of economic globalization is the establishment of single monetary units for groups of countries, a common example of which is Euro for countries of European Union. Another conspicuous example of economic globalization are cities like Shanghai and Dubai, which have become a marketplace for a large number of companies and countries. And finally, I will be discussing the aspects of social-cultural-political globalization. With advent of internet and social sites, social interaction between people from all over the world ascended enormously. In present days many join in different groups by means of internet, particularly via social sites like the Facebook or the web site Change.org and fight for or agains