This general management lecture, rich in tech-centric examples, explores reasons behind the intense competition found in contemporary markets. The lecture emphasizes how contract manufacturing, technology shifts, deregulation, and - most significantly – globalization are impacting markets. The Globalization lecture is a bit of a departure from our regular fare, but the example-rich introduction is meant to help students appreciate the regional and business breadth of world-class enterprises coming from emerging economies. This lecture is in AAC (iTunes/iPod) format.