Globalization (g11n): Refers to a broad range of processes necessary to prepare and launch products and company activities internationally. Addresses the business issues associated with launching a product globally, such as integrating localization throughout a company after proper internationalization and product design.
Internationalization (i18n): The process of generalizing a product so that it can handle multiple languages and cultural conventions without the need for redesign.
Localization (l10n): The process of adapting a product or software to a specific international language or culture so that it seems natural to that particular region. True localization considers language, culture, customs and the characteristics of the target locale. It frequently involves changes to the software’s writing system and may change keyboard use and fonts as well as date, time and monetary formats.
Translation: The process of converting all of the text or words from the source language to the target language. An understanding of the context or meaning of the source language must be established in order to convey the same message in the target language.