Reflection Journal in International Business

In this report I am going to define the meaning of Globalisation and assess the impact of globalisation on the way the business operate.

Conditions have changed. Global trade has rapidly increased in both volume and value, reaching nowadays more than $4 trillion in 1997 (Daniels J.D., Radebaugh, 1998, pg. 529). Competition is fierce from all corners of the world. Failure at the global level can backfire and may consume existing brands and business relationships. At the same time, global opportunities have emerged that offer possibilities for growth, profit, and an improvement in worldwide standards of living.

Globalisation is the internationalization of trade and often forces businesses to adopt new strategies for operations to suit different cultures and economies. The often easily saturated domestic market has triggered many large

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 over the past twenty has become an issue in many countries. This industrialization of second and third world countries by Western Civilization creates many opportunities for the inhabitants. Not only does it expand trading markets, but also promotes productivity and efficiency; thus improving the country and integrating it into the industrial world. This process not only benefits third world counties, but also industrialized nations by allowing them to export goods to the developing world and increase their profit margin.

Globalization has transformed the world economy over the past years. The spread of ideas and technology across borders has facilitated new avenues of trade, creating new markets and expanding others. However not only has the world benefitted

The third thing I learned was the difference between International, Multinational, and Transnational business. International business does not mean that the business is located overseas, but rather that the company does a lot of buying and selling overseas, such as with China. A multinational business is a business that is rooted in one location, such as the United States, but has a physical presence around the world, such as McDonalds. A transnational business exists overseas, and moves throughout borders, but does not identify with any specific

Globalisation completely is not a new phenomenon in the present age. It is admitted that it has been playing a significant role in the economic development of many countries in the world as well as creating more opportunities for markets and a range of businesses to exchange their products and participate in the global competition. As a result, globalisation brings a huge benefit distributing to the economic growth all over the world, but it unfortunately contains some disadvantages that all countries should consider carefully when being a part of this process. This report’s aim is to give a clear definition of globalisation and explains it with an example. Particularly, Australia is an evidence of how globalisation impacts positively on its economic development and what it mainly harms for.

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.

Many of the world’s political and business leaders believed that free trade and the global exchange of goods contributed to the prosperity and economic growth. The idea that the world is becoming increasingly interconnected is referred to as globalism, and the process is called globalization. Selling American-made goods abroad has always been important to American prosperity. Since World War II, both the Republican and Democratic administrations have worked to lower barriers to international trade. They rationalized that trade helps the American economy because, American

Globalisation has increased international trade as well as investment. This has dealt to the signing of international free trade agreements such as the GATT and regional trade agreements. Information costs have also been reduced which leads to a de-fragmentation of the industry. Due to the free trade agreements, companies have started to outsource their production capabilities (mainly) to countries such as China and India

The Cultural aspects of international business course has helped me to discover new perspectives and taught me to look at things through

As we all know, global trade is no easy, companies cannot just ship their products to another country and sell it in the foreign market, there are many factors need to be considered and analysis. In my point of view, the factor can be separate into internal and external factors.

There has been an accompanying integration and fusion of national markets, in part through free trade zones such as NAFTA, and often reflected in the escalation of foreign direct investment, including in the less developed world. Reference should also be made to 'cross-border connectivity' - in other words, the development of new information technologies, and the accompanying new ways of buying and selling goods and services. b) Explain the factors that have led to the process of increased globalisation in recent years (40 marks)

Globalization is important to understand in order to determine what worked in the past and can be successful again in the future. Our many cultures, ideals and growing technology form together to create an extremely global world. We use products that were made on the other side of the world, and are taxed on practically everything. Whether the effects of our global society is good or bad, there’s no doubt that the world is constantly changing and impacting our livelihoods, so we must adapt accordingly in order to succeed.