Globalization: delocalization and supraterritoriality - Productivity and competitiveness are, by and large, a function of knowledge generation and information processing; firms and territories are organized in networks of production, management and distribution; the core economic activities are global – that is, they have the capacity to work as a unit in real time, or chosen time, on a planetary scale. (Castells 2001: 52)

http://infed.org/mobi/globalization-theory-and-experience/