Practice 2　　What exactly does globalization mean? Concepts related to globalization include “internationalization”, “multidomestic marketing”, and “multinational or transnational marketing”, suggesting that the basic criterion is transactions across national boundaries. In the marketing and strategic management literature, globalization is conceptualized as a means to gain competitive advantage by locating different stages of production in different geographic regions according to the particular region's comparative advantage. This conceptualization focuses only on the economic aspects of globalization; social, cultural and political factors are only considered in the context of achieving economic advantage. Thus, being “culturally sensitive” in global markets is being able to sell one's product with enough ingenuity to avoid possible pitfalls arising from the seller's ignorance of local customs. International marketing textbooks discuss such cultural pitfalls in great detail; however, the cultural contest of globalization is always framed by the economy.　　Broader conceptualization of globalization can be found in other disciplines such as sociology and anthropology. Waters defined globalization as “a social process in which the constraints of geography on social and cultural arrangements recede and in which people become increasingly aware that they are receding.” This conceptualization with its much broader scope, allows for the examination of a number of consequences of globalization, not jut economic but social, cultural and political ones.