Impact Of Globalization On International Business

2183 WordsJun 23, 20169 Pages
WHAT IS GLOBALIZATION Fundamentally, globalization is the closer integration of countries and peoples of the world which has been brought about by the enormous reductions of costs of transport and communications and the breaking down of artificial barriers to the flow of goods, services, capital, knowledge and to a lesser extent. Globalization is an umbrella term for a complex series of economic, social, technological, cultural and political changes seen as increasing interdependence, integration and interaction between people and companies in disparate locations. .. THE IMPACT OF GLOBALIZATION ON INTERNATIONAL BUSINESS. International business refers to a wide range of business activities undertaken across national borders. Along with rapidly increasing globalization, international business has become a popular topic and has drawn the attention of business executives, government officials and academics. International business is different from domestic business. At the international level, the globalization of the world economy and the differences between countries present both opportunities and challenges to international businesses. Business managers need to take account of the globalized business environment when making international strategic decisions and in managing ongoing international operations. Globalization in the economic, social and political fields has been on the rise since the 1970s, receiving a particular boost after the end of the Cold War. Many
Open Document