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Second, globalization has made it easier for businesses to expand into new markets. This can be a great opportunity for businesses to grow their revenue and profits. However, it also means that businesses must be more aware of the risks involved in expanding into new markets.

Third, globalization has led to increased interdependence between businesses. Businesses are now more likely to rely on suppliers and customers from all over the world. This means that businesses must be more proactive in managing their supply chains and customer relationships.

Overall, globalization has made strategic planning more complex and challenging. However, it has also created new opportunities for businesses to grow and succeed.

Here are some specific tips for how businesses can incorporate globalization into their strategic planning:

• Conduct a global market analysis. This will help you to understand the opportunities and challenges of the global marketplace.
• Develop a global strategy. This will help you to identify your target markets and to develop strategies for competing in those markets.
• Invest in global capabilities. This may include things like developing global marketing and sales capabilities, or establishing a global supply chain.
• Manage your global risks. This includes things like managing currency risk, political risk, and supply chain risk.

By following these tips, businesses can increase their chances of success in the global marketplace.