Globalisation Has Revolutionised International Business Essay

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Critically examine how globalisation has revolutionised international business and evaluate impacts of this on changing view towards Corporate Social Responsibility. Introduction Globalisation has been a prevalent issue and a wide trending discussion topic. It is defined as, “a complex economic, political, cultural, and geographic process in which the mobility of capital, organisations, ideas, discourages, and peoples has taken on an increasingly global or transnational form.” (Moghadam, 1999, p. 376). This globalisation phenomenon has built the interrelationship between national markets and industries into worldwide arena. Thus, the trend towards global markets, global production and global competition has been occasioned by the interdependence growth between national economies (Brooks, Weatherston & Wilkinson, 2004). Therefore, in consequence of emerging globalisation, it has impacted the international business organisations; the way international business operating the business practises has changed. The nature of macro-environment based on political, economic, technological, environmental and legal areas is required to be measured and analysed by business organisation, specifically for international firms in order to set the strategy and look for the opportunity and threat. One of the elements of globalisation changes is Corporate Social Responsibility (CSR). The concept of CSR nowadays is becoming more crucial as many international business organisations have been
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