DEFINITION OF GLOBALIZATION, BUDGET AND SPONSORSHIP

Globalization

Globalisation (or globalization) describes the process by which regional economies, societies and cultures are integrated through a global network of political ideas through communication, transport and trade. The term is most closely associated with the term economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence. However, globalization is generally regarded as driven by a combination of economic, technological, cultural, political and biological. The term can also refer to the transnational movement of ideas, languages, and popular culture through acculturation. One aspect of the world that has gone through the process can be said to be globalized. 

Budgets 

A budget is a list of all planned expenditures and revenues. A plan to save and spend. A budget is an important concept in microeconomics, which uses a budget line to illustrate the advantages and disadvantages between two or more goods. In other words, a budget is an organizational plan stated in monetary terms. 

In summary, the objective is to: 

· Provide an estimate of revenue and expenditures ie construct a model of how our company can perform financially speaking if certain strategies, events and plans are carried out. 

· Enable the actual financial operation of the company to be measured against the forecast. 

Sponsorship 

Sponsorship is a business relationship between a supplier of funds, resources or services to a particular event, or organization that offers in return rights and partnership that can be used for commercial advantage in return for sponsorship investment.