revised: Nov. 24, 2014, 2:01 p.m.
As a result of globalization in the 21st century, the world economy is being shaped by the integration of international products, capital and even the service markets and the changes brought about by this integration. This situation creates both risks and opportunities for the Turkish economy, just as it does for other economies around the world. Thanks to the momentum established in the first decade of the 21st century, the Turkish economy has reached an important foreign trade volume and foreign investment level. Turkish companies have reached out to more foreign markets and have truly turned into multinational corporations by creating global brands, initiating strategic ventures or take-overs and realizing joint ventures with foreign companies. This process has led to an increased need for specialists that can take advantage of risks and opportunities created by global competition, can adapt to different cultural structures, and can make decisions regarding marketing, financing and other strategic subjects, in other words, personnel that can ascend under the globalizing world conditions to managerial positions at international corporations.