Globalisation and operate business globally are significant issues for contemporary organisations. Global business is refers as an economic activity that operates in different countries that selling and buying goods and services by people (McWilliams 2010).Businesses are incentivized to sell products and services in foreign markets with technology advancing so fast and international trade expanding. The global business strategy vision is to develop far beyond the borders of their countries and allow businesses to grow (Chan & Justis 1997).Through global business, it helps enterprises reduce costs, expand their market share and become more competitive. There are two impact of global business. One of the impact is multinational corporations
However, nowadays, globalization due to the Industrial Revolution and the advances in transport and technologies has reached an unprecedented scope. Globalization can be explained in mainly 3 different areas: in politic, social and economic terms. In politic terms, globalization can refer to the shift of political activities from a single-nation level to a global level and it has been created international organization such as the United Nations. It has also tried to spread democracies all over the world. Social globalization describes an exchange of values, ideas and it has facilitated the promotion of equality, dignity and human rights.
Globalization can be defined as the growing interconnection of the various nations worldwide through the increasing volume and variety of cross border transactions which results in capital flow , and also through the more rapid and widespread dispersion of technology (Hill, 2011). Globalization is the harvest of human modernization and technological progress. It refers to the increasing amalgamation of economies across the globe though trade and capital flows. The term also refers to the migration of people (labor) and technology across international borders. It has the potential of making societies richer through trade and creates an environment of knowledge and understanding across the world.
The competition between businesses will ensure better quality of their goods and service they provide. Competition is well known for providing great productivity which leaders to a growth in the economy. Not only can competition improve the quality of work, it can also improve innovation. Innovation is an important quality to have in a company because it aids in keeping products and services fresh. “Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley).
Globalization took a large step after the war world 1and2 which occur several of changes in the following aspects: new territories, different allies grow, accessible transportation, raised the global economics and more trade of goods at a low price were transfer. What is Globalization? Globalization is a complicated topic, but you can see clearly its influence. Globalization is:" The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers."
In the contemporary society, there are an increasing number of people involved in the globalisation. I choose the topic of international trade. And in the following paragraphs, I am going to introduce what is international trade, other possible benefits of trading globally and the bottom line. (Heakal 2015) Thanks to the international trade that allows us to expand the market for goods and services. And also, as a result of international trade, the market contains greater competition with more competitive price and cheaper products.
Globalization and Nation States Globalization has integrated and intertwined the economies of the world. In the world today, every nation has become independent on every other nation, be it through trade or through finance. Developing countries today are attracting large rounds of foreign investment, and this foreign investment is coming from the developed countries. Thus, the money of the developed countries is today invested in the developing countries. At the same time, the world has also become interdependent due to trade relations.
What can be defined by economic globalisation is the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Whereas globalisation is a broad of set of processes concerning multiple networks of economic, political and cultural interchange, contemporary economic globalisation is propelled by the rapid growing significance of information in all types of productive activities and by the developments in science and technology. Some theorist also defined Globalisation as a historical stage of accelerated expansion of market capitalism, like the one experienced in the 19th century with the
1. In my opinion, Post-American World Order will increase the relevancy of the Clash of Civilizations. To answer this question, I would like to explain about globalization and realism theory. The advancement of technology and information has taken place in many countries. The Advancement of communication technology with the more extensive network of television, radio, and the Internet spread in different countries with different cultures create a society in a country can easily get information from countries around the world.
This is a new era of globalization that brings with it opportunities and also new challenges with the dynamics of a free market. Globalization award access to benefit from the international separation of labor, technologies, international specialization, cultural exchange and the consumers like a wider variety of products with lower prices. Globalization also brings a higher level of strategizing. Business evolves in new