Impact of Globalization on Development of Business

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Introduction Globalization, a process that covers the causes, the course as well as consequences of the transcultural and transnational integration of both human and the non-human activities is of great importance to organizational dynamics (Al-Rodhan 5).The concept of globalization is noted to be a trend which is timeless and evolutionary. It is therefore a process which generates connections and flows, not just across various nation-states as well as national territorial boundaries alone but between continents, regional states as well as civilizations (Kaohane 15). This therefore indicates that globalization can be considered to be a historical process that entails a significant shift in the level of reach of spatial reach of networks as well as systems of social relations to interregional or transcontinental patters of the human activity, organization as well as exercise of power (McGrew 98). How globalization impacts the growth and development of businesses Globalization is noted to have an impact on the growth, development and operations of joint ventures, global alliances, and mergers and acquisitions. Globalization is noted to fuel cross-border joint-ventures, mergers and acquisitions in various regions of the world. In a bid to expand their operation oversees, corporations are forced to enter into various strategic alliances like mergers and acquisitions and joint ventures (Chan-Olmsted 2). A practical example is the Korean automaker Daewoo who turned towards
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