Impact Of Globalization On International Business

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Essentially, globalization is about a close integration of countries and people worldwide which has been brought about by the freedom of mobility, development of various means of communication and elimination or at least reduction of barriers to the circulation of capital, knowledge and to a lesser extent people across borders. Globalization is an umbrella term for a complex series of social, political and economic aspects identified as an increasing interaction and integration between people and countries worldwide. This international interdependence is characterised by the continuously increasing international migration, elimination of obstacles of free trade and global economic integration which is one of the powerful driving forces of international businesses that move capital, goods and technologies, but also people across borders (Kritz and Zlotnik, 1992).
International business refers to a wide range of business activities undertaken at the international level. Along with rapidly increasing globalization, international business has become a popular topic and has drawn the attention of business executives, government officials and academics. At the international level, both economic globalization differences between countries stand as opportunities and challenges to international businesses. Globalized business environment has to be considered when making international strategic decisions and in managing ongoing international operations.
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There are many more jobs available to people, and more and more people are also exposed to mobility. This increases immigration rates as well, thus giving people the chance to grow economically and
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