Globalization And The Four Elements Of The Global Business Environment

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

The business world, however, uses this term in a much narrower context to refer to the production, distribution, and marketing of goods and services at an international level. Everyone is impacted by the continued increase of globalization in a variety of ways. The types if food we eat, the kinds of clothes we wear, the variety of technologies that we utilize, the modes of transportation that are available to us, and the types of jobs we pursue are directly linked to “globalization.” Globalization is changing the world we live in.

Globalization is the process in which people from diverse cultures, societies and regions interact with each other and share their ideas. As we approach the broad concepts of globalization, it is necessary to promptly address the impacts of it on developed and developing countries. Globalization has affected every country and has led to some radical changes. It has had a direct impact on our daily life and has influenced our social norms, economy and political landscape. It has also provided an opportunity to people from diverse cultures to interact, which has led to a change in the way how people talk, dress and eat. The impacts of globalization are explored in "Globalization Has Harmed Developing Nations." By Lila Rajiva,"Globalization Benefits Developing Nations." By Steven Horwitz, “The Impact of Globalization in the Developing Countries” By Fairooz Hamdi and in “Globalization Benefits the World's Cultures” by Phillippe Legrain. These articles have analyzed the impacts of globalization on developing and developed countries rigorously. In short, I agree with Fairooz Hamdi’s viewpoint on globalization, which states that the overall positives of globalization outweigh the negatives and that Globalization will be beneficial in the long run.

Globalization is increasing interdependency of nations and businesses throughout the world. It has had a profound effect on both markets and production. It has lowered or eliminated government barriers to export-import trade. Gives firms access to the worlds vast offerings of food, clothing, and other manufactured goods. Companies can also benefit from foreign manufacturing, shifting factory production to less developed, cheaper labor countries.

One of the core tenents to running a business is for a business to make money and to increase in size. As a result of that engaging in activities that increase a businesses capability to make money and increase its size is of great importance. Furthermore, as a result of that focus on increasing the sizes of businesses, globalization has furthered the spread of business. Globalization influences the world economically,

Globalization may be defined as the integration of the world 's people, firms and government. In the modern context, globalization is usually the result of closer ties in international trade, known as bilateral trade agreements. The WTO and NAFTA are two examples of such bilateral trade agreements. With such agreements, cross-country investment increases. This increase in investment is aided by the increase in information technology and communications, which has undergone a significant advancement over the last two decades with the rise of the Internet and mobile telephony (Green, 2013). It is important to the business to expand; global expansion and globalization would a positive business decision to complete in this process due to the strategic goals and objectives the company possesses. Healthy growth can be accomplished by globalization of specific areas selected and determined through research of market and development of these areas outlined within.

This chapter gives an over view concept of what globalization entails. The chapter gives a great description and definition of the concept: “Globalization is a holistic, or systematic, set of structures, dynamics, functions or goals, internal constraints, and external impediments”. All of this is relative to the exchange of goods, services, e-goods, information, ect. In other definition, globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by

Globalization has a huge impact on the way business is conducted around the world. Globalization provided huge opportunities and global platform to the organizations around the world. It is also a way to conduct business and communicate for organizations across different geographical locations. Globalization opened new windows and opportunities and broaden the horizon of organizations to market their goods across the world.

Every now and then disruptive events happen in the business world such a technological change, industry changes, market changes or even societal changes that greatly impact the continual success of a business. More so we live in era where these changes are only accelerating increasing uncertainty and the growing complexity of the business world. Economic power continues to shift eastward and different markets and trade linkages are emerging causing the boundaries between industry and sectors to blurring. Discontinuities and megatrends are an inherent part of today’s business environment and it is important the businesses assess the impact of both these concepts on their strategic objectives and daily operations of the business in order to stay ahead in today’s competitive environments. Most importantly CEO’s need to be at the head of the business’s strategic objectives to ensure that the business remain on track and able to quickly adapt to these changes in the environment.

Globalization is an inescapable factor in the global economy today. Its effects can be felt throughout the world in industrialized and developing nations alike. The “process of globalization is so pervasive that it affects all businesses,” (Lawrence & Weber, 2014, p. 71). The benefits of globalization are apparent to organizations and nations such as reduction in poverty and benefits to consumers. But globalization must be properly balanced with a covential pledge to care for one another. Run amuck, globalization can facilitate negative effects on the environment, resource allocation and culturally diverse sustainability. Globalization is beneficial to the global economy, but must be balanced with a respect for

Globalization is something that has been occurring since early in the history of entrepreneurs, and something that will not be going away anytime soon. Businesses can enjoy many benefits from globalization that include an increased audience to market their products to, and quicker sharing of innovative ideas. The advantages of globalization are just as much a disadvantage. The increase in competition between domestic and foreign business has lead to a decrease in employment and an increase in outsourcing. Businesses need

Globalization is the process by which the world is interconnected through technology and powerful infrastructure for the purpose of communicating and managing resources. Globalization seems to talk about several vibrant phenomena(s) which ensure two major components.

Globalization is the process regarding an increasing interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture. It can also be tied to business ventures where businesses or other organizations develop international influence or start operating on an international scale. The idea of globalization has become very controversial in the United States labor market. There are many pros and cons on how it affects the labor markets. Along with the labor market controversy people also debate over whether globalization is a threat or opportunity to the United States economy. Although Globalization has brought a significantly positive impact on most countries in terms of economy, culture, and politics, it also has left some drawbacks behind on the same aspects.

According to Friedman (2000 in Blythe & Zimmerman, 2005), globalization is the “inexorable integration of markets, nation-states and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation states to reach around the world farther, faster, deeper and cheaper than ever before, and in a way that is enabling the world to reach into individuals corporations and nation-states farther, faster deeper and cheaper than ever before.” Simply put, it is the connectivity of individuals and institutions across the globe or at least over most of it. Globalization basically ends up in the assumption that distinctions between national markets square measure attenuation and can eventually disappear because the world becomes a world village. It’s so safe to conclude that globalization may be a development that's here to remain and in and of itself, managers ought to create deliberate efforts to watch the worldwide surroundings to change their organizations to adapt to changes during this surroundings.

Globalization is the increasing interdependence and connectedness of the world, its businesses and it markets, as well as flow of goods, ideas, technology, people etc. This phenomenon has increased vastly over the years due to technological advances, telecommunications and internet. As the world becomes a global economy, countries have the opportunity to advance more but with the catch that there is also increased competition. Thus as it becomes more common and powerful a feature, it also has some resistance as well. (InvestorWords, n.d.)