Globalization and Innovation Encompass with Regulations

Abstract

Our economy is outdoing a profound transformation within globalization, innovation and the regulations required for each market. Although the individual elements feel familiar, the combined contours are unprecedented- in scope, speed and scale. The globalization is a business model that describes the coherence in the strategic choices, cross-sector relations and strategic levels in the organization. The cost, time, and risk to develop and commercialize innovative technologies may prohibit market-driven development of new tools and technologies in areas of critical importance to business. For this reason, the embracing of global business model principled can robust the use of modern innovation tools for problem-solving and acquisition can result in better problems solution, more engagement, connection and outward-looking workforce, and economic benefits. Key Terms - DMAIC, Lean Principles, Process Map, Regulation Classification, SIPOC, GAMP 5.