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The terms globalization and MNC's (Multinational Corporations) are very commonly used in today's world not only by the economic people but also by a lay person. An understanding of these terms, however, by the corporations themselves seeking to be globally operational and successful, is very important so as to identify not only the opportunities awaiting them in globally diverse markets but also the challenges and threats they might face in the course of their operations. This understanding of cultural diversity in markets spread over geographically segregated areas would be very helpful for all managers entrusted with an uphill task of adapting efficiently to the varied cultural environments in such global markets. This adaptation paves way for the application of their speculative, Organisational and leadership skill towards their core responsibility establishment of the company's business in localized markets and generation of desired results for the company in the form of profits, growth and expansion.
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