The focus of this article is on how managers perceive globalization of markets and production. A globalisation diagnostic is used to measure the perceptions of management on how they perceive globalisation of markets and production on three dimensions; globalisation of markets and production, globalisation as an interlinked closed system where distance still matter and globalisation of firms. The main conclusion is that managers have a misconception about how global markets and production are, how countries are interlinked in a global world where distance still matter, and that globalisation is an option for firms and not an imperative.