After reading this chapter you should: be aware of the impact that globalization is having upon world consumption and production; know that not everybody agrees that globalization is of benefit to all people in the world economy; be able to define globalization as a phenomenon and recognize the key drivers of change in the global economy; be aware of the political and regulatory environments in which organizations operate and their impact upon supply chain strategies; know the risks involved in sourcing and procuring suppliers and supplies from different parts of the globe; know the impact of new technologies and innovation, and how these developments impact upon supply chain strategies.