GlobalizationDirections:Think about what you have read and seen in the news on globalization. Consider the fact that the clothing we wear, the cars that we drive, the cell phones we use to communicate and the computers we use to work, are each likely to have been manufactured in whole or in part in different parts of the world. While there are still companies and firms that maintain local and national borders, it is almost unheard of in the 21st century that an industry does not maintain an international strategic position. From an executive’s position, identify and explain at least three challenges and opportunities that might face an international executive over the next five years. Provide possible solutions of how the executive might address these issues in order for their firm to maintain a competitive advantage. Prepare a 4-6 page paper that describes the impact of globalization on U.S. businesses. In your analysis, please include information about the impact of at least four economic drivers that might impact globalization.Grading Criteria Explained at least three challenges and three opportunities that might face an international executive over the next 5 years Described possible solutions of how these situations could be addressed to increase a firm’s competitive advantage. Analyzed the impact of at least four economic drivers which might impact globalization Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.