This conceptualization focuses only on the economic aspects of globalization; social, cultural and political factors are only considered in the context of achieving economic advantage.
This conceptualization with its much broader scope, allows for the examination of a number of consequences of globalization, not just economic but social, cultural and political ones.
While there are a few different conceptualizations of globalization, researchers seem to be in agreement that there are at least three dimensions of globalization: economic, political and cultural.