IE3 Unit 1 – Globalisation – Additional Vocabulary

Nouns:
1. Globalization (Noun): The process by which businesses, cultures, and economies around the
world become interconnected.
• Example: Globalization has led to increased trade between countries.
2. Interconnectedness (Noun): The state of being connected with each other.
• Example: The interconnectedness of the modern world is evident in the ease of
communication.
3. Trade liberalization (Noun): The removal or reduction of barriers to trade between nations.
• Example: Trade liberalization has resulted in a surge in international commerce.
4. Cultural homogenization (Noun): The process by which local cultures become more similar due
to globalization.
• Example: Critics argue that cultural homogenization can lead to the loss of unique
traditions.
5. Outsourcing (Noun): The practice of hiring external firms or individuals to perform tasks or
services.
• Example: Many companies outsource customer service to reduce costs.
6. Multinational corporation (MNC) (Noun): A company that operates in multiple countries.
• Example: Multinational corporations often face challenges in adapting to diverse
markets.
7. Supply chain (Noun): The sequence of processes involved in the production and distribution of
goods.
• Example: Disruptions in the supply chain can impact the availability of products.
8. Tariff (Noun): A tax imposed on imported or exported goods.
• Example: The government imposed tariffs to protect local industries.
9. Inequality (Noun): The state of being unequal, especially in terms of wealth or opportunities.
• Example: Globalization has been criticized for exacerbating income inequality.
10. Sustainability (Noun): The ability to meet present needs without compromising the ability of
future generations to meet their needs.
• Example: Businesses are increasingly focusing on sustainability to address
environmental concerns.

Adjectives:
11. Ubiquitous (Adjective): Present, appearing, or found everywhere.
• Example: The internet has become ubiquitous in our daily lives.
12. Interdependent (Adjective): Mutually dependent on each other.
• Example: The global economy is highly interdependent, with nations relying on one
another for resources.
13. Homogeneous (Adjective): Uniform or similar in nature.
• Example: Some fear that globalization may lead to a more homogeneous global culture.
 14. Diversified (Adjective): Varied or having a range of different elements.
• Example: A diversified portfolio helps reduce investment risk.
15. Volatile (Adjective): Unstable and liable to change rapidly.
• Example: Currency exchange rates can be highly volatile in the global market.
16. Inclusive (Adjective): Including or covering all items, classes, or categories.
• Example: Inclusive economic policies aim to benefit all segments of society.
17. Resilient (Adjective): Capable of recovering quickly from difficult conditions.
• Example: Resilient economies can better withstand global economic downturns.
18. Sustainable (Adjective): Capable of being maintained over the long term without harming the
environment.
• Example: Sustainable practices are crucial for the future of our planet.
19. Robust (Adjective): Strong and healthy; vigorous.
• Example: A robust infrastructure is essential for economic development.
20. Intercultural (Adjective): Involving or relating to two or more different cultures.
• Example: Intercultural communication skills are vital in a globalized workforce.

Verbs:
21. Facilitate (Verb): To make an action or process easier or more effective.
• Example: International agreements can facilitate trade between nations.
22. Adapt (Verb): To adjust or change to suit conditions.
• Example: Businesses need to adapt to the evolving demands of the global market.
23. Globalize (Verb): To make something operate on a global scale.
• Example: The company aims to globalize its product distribution.
24. Leverage (Verb): To use something to maximum advantage.
• Example: Companies often leverage technology to improve efficiency.
25. Harmonize (Verb): To make or form a harmonious or consistent whole.
• Example: Efforts are underway to harmonize international trade regulations.
26. Decentralize (Verb): To distribute the administrative powers or functions of a central authority.
• Example: Some organizations decentralize decision-making to increase efficiency.
27. Diversify (Verb): To make or become more varied.
• Example: Investors diversify their portfolios to spread risk.
28. Erode (Verb): To gradually wear away or diminish.
• Example: Globalization can erode traditional cultural practices.
29. Mitigate (Verb): To make less severe or harmful.
• Example: Governments implement policies to mitigate the negative effects of
globalization.
30. Integrate (Verb): To combine or coordinate different elements.
• Example: The goal is to integrate sustainable practices into everyday business
operations.
Collocations:

31. Global market (Collocation): The worldwide economic environment in which goods and
services are bought and sold.
• Example: Companies aim to expand their presence in the global market.
32. Cultural exchange (Collocation): The sharing of cultural perspectives between different groups.
• Example: Study abroad programs encourage cultural exchange among students.
33. Free trade (Collocation): The economic policy of not restricting imports or exports between
nations.
• Example: Free trade agreements promote economic cooperation between countries.
34. Digital economy (Collocation): An economy based on digital technologies and the internet.
• Example: The digital economy has transformed the way businesses operate.
35. Labor migration (Collocation): The movement of workers from one region or country to
another in search of employment.
• Example: Labor migration can lead to cultural diversity in urban areas.

Idioms:
36. The global village (Idiom): The world considered as a single community linked by electronic
communication.
• Example: Thanks to the internet, we now live in a global village where information
travels instantly.
37. Think globally, act locally (Idiom): To consider the global impact of one's actions while making a
difference in one's local community.
• Example: Environmental activists often follow the motto "think globally, act locally."
38. The bottom line (Idiom): The final total or result; the most important aspect.
• Example: The bottom line for businesses is often measured in profits.
39. To be in the same boat (Idiom): To be in the same difficult or challenging situation as others.
• Example: In the global economy, nations are often in the same boat when facing
economic crises.
40. To go the extra mile (Idiom): To make a special effort to achieve something beyond what is
required.
• Example: Successful global leaders are willing to go the extra mile to understand diverse
perspectives.