Globalization remains a process that began decades ago and has reached and influenced many countries and people around the world. For many companies, globalization and expansion have been a desired goal and business strategy. While expanding and going global offers a number of financial benefits, it also requires an analysis of the political, economic, and sociocultural environment of the countries you are aiming to expand into. In this article I will discuss the economic, socio-cultural and political-legal factors of Germany that a manager needs to consider the globalization of business in Germany. Economic development varies widely across countries and regions of the world. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Based on Per Capita Income Countries can be classified as developed or underdeveloped. Germany has significantly higher GDP and income per capita and is ranked fourth among the world's largest economies. (The 10 largest economies in the world in 2017). Higher per capita income reveals a positive indication of a strong and stable economy that offers attractive economic conditions for foreign business managers aiming to globalize business in Germany. Another essential economic factor that managers must consider before expanding business in Germany is the German economic system. Germany has a social market economy that supports and encourages free enterprise, but it is also characterized by strict rules and laws regulating employment, unfair competition and other aspects of the economy. (Doing Business and Investing in Germany, 2017) Furthermore, the German workforce is highly educated, trained and disciplined, making it easy for foreign businesses to hire well-trained, high-quality employees. As a well-developed country with a well-skilled workforce, Germany has higher labor costs than China or other Asian countries. That said, foreign companies intending to expand into Germany through the Greenfield Venture market entry strategy will result in an expensive and risky direct investment. Along with German economic factors, other factors such as socio-cultural and legal-political factors play a significant role. role. Consequently, international companies aiming to globalize in German markets must take legal-political factors such as political stability, political risk, government interference and also sociocultural factors such as social values, beliefs, language, religion, etc. into consideration in their analysis. Political risk, the risk of loss of investment returns, due to political changes and instability, is a major concern for international companies participating in global business. (Draft,131) Due to strong political stability and lower political risk, Germany is considered a stable country to invest in. (Data on political stability in Germany, graph). Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay While these indicators are reliable, government interference appears to be high. As a social market economy, Germany maintains strict laws and regulations governing labor compensation, labor practices, competition, advertising, consumer rights and many other aspects of business. These rules and regulations can pose a challenge to international managers operating abroad, so it is important for managers to learn and abide by these rules and regulations. In addition to the factors.