Read the following passage carefully and answer the questions given below it. Certain words have been highlighted for your attention.

Globalisation is the process by which the world is interconnected through technology and powerful infrastructure for the purpose of communicating and managing resources. Globalisation seems to talk about several vibrant phenomena which ensure two major components. Firstly, they function across national boundaries and secondly, they result in the higher incorporation or interdependence of human societies. It is, therefore, one aspect of development that affects the world in general, from every point of human view.

There are numerous ways in which globalisation has impacted the world today. Some of these include modification of worldwide environment in investment, management, machinery, policy-making, economics, and societal conditions, which shaped breaks aimed at the entrepreneurial initiatives to develop global trades at tremendous speed. These would encourage more trading and employment opportunities for individuals across the globe.

Globalisation offers a boundless opportunity for business endeavours to develop their trade all over the world. Ways in which trade can be linked to globalisation. The first way may include the exceptional progress of foreign direct investment. This has been enabled by the ease of internet accessibility all over the world. Secondly, there could be increased competitive advantage, through specialisation and division of labour, as different countries can specialise on what they can produce best. The growth of technology innovation has also been influenced by trade on a globalised scale. Additionally, service industries, which include financial, managerial, legal and information, has also been growing to the advantage of globalisation.

Globalisation is, therefore, an important development in human development. It is therefore important to embrace it. Through the support of local governments, big organizations, and universal organizations, entrepreneurial initiatives are capable of taking advantage of globalisation and economic liberalisation, to advance their effectiveness in the universal market, as well as enhanced service to the overall customers. Globalisation has, therefore, had a positive impact on the lives of people around the globe with minimum disadvantages.