The influences of globalization can be felt in every city around the world. Technology has enabled individuals as well as organizations the ability to immerse themselves into another culture virtually at the speed of light. Understanding of different societies and cultures has become one of the leading processes of business. Primarily there has been a greater focus on understanding the various cultures because of its ability to affect business on a global scale. By understanding the different cultures, enables the organization to more effectively deal with the influences of globalization, for example, e.g.
How does the globalization influence the international business? Globalization is primarily an economic phenomenon, involving the increasing interaction of national economic system through the growth in international trade, investment and capital flows. A rapid increase in cross-border social, cultural and technological exchange is part of this globalization phenomenon. Globalization has impacted the present world in numerous ways. These are: reduction of trade barriers permitting free flow of capital and services across national frontiers; creation of environment conducive to free flow of capital; formation scenario allowing free flow of technology among nation states; and development thrust in which free movement of labour can take place
By increasing global commerce, providing fair trail and spreading the opportunity for everyone around the world. Actually, globalization has existed for a long time and constantly evolving. This helps people; especially business people to access through the internet and gets information around the world more easily without rely on government. According to the survey publics by Pew Global Attitudes Project (2007), in most countries, large majorities believe that international trade is benefiting their countries and people are living better under the capitalism. Base on the evidence from the past five years, with the support of free market it makes citizen particularly in Latin American and Eastern Europe countries having more satisfaction with income and perceptions of personal progress, has increased ostensibly (p. 177).
What are the benefits that the company will gain from expanding its operations into the international market? What is the meaning and concept of International Business? Why the business organizations decide to go international? What is International Business
Today’s world existed as they are because of globalization, the phenomenon of globalization cannot be separated from any countries, either developed or developing countries are experiencing the dynamic moves of globalization. Globalization can be described as the process of widening, intensifying, speeding up, and growing impact of world-wide interconnectedness (Held, 1999). The world has become borderless, the spread of information and technology could be within minutes away. People called it “the big idea of 21st century”, it stretch out the boundaries between nations, it promotes culture, languages and values to every single one of people around the world. For the last century, globalization has such a huge impact on countries in term of politics, economics and cultures.
Globalization has made its way into the history of countries over the years due to the fact that it internationally integrates and interchanges different aspects of people, culture, views and products. This international integration has added to the advances of many sectors in countries both negatively and positively. But agriculture has sustained the world for millions of years and has been greatly influenced by globalization. Globalization has impacted agriculture where food is brought, produced and grown. These changes in agriculture due to globalization have immensely affected the environment and the economies of countries particularly in Central and Latin America.
The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements we enjoy in the modern era have been major factors in globalization and have generated further interdependence of economic and cultural activities. In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge. Further, environmental challenges such as global warming, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment.
Because it makes the world become tightness, there will be convenient of traffic, production of world-class, news from global (Drucker, 1994). You could drive cars from Germany, watch films of Hollywood from America, and pull on fashionable costume from France etc. In wildly sense the positive aspects could be summarize as follows: First of all, under globalization, a close correlation between a country’s domestic economic performance and its participation in the world’s economy are created (Seitz & Hite, 2011). Because of this, global economic efficiency is undoubtedly being promoted. Secondly, nations around the world now face common problems and working together to solve it (Seitz & Hite, 2011).
The focus of the article is how globalisation has changed the way cities function and how industries has changed with time. With increasing globalisation, cities become multicultural as cities open up to more immigrants and industries. In particular, immigration is a major factor which has changed the way the economy works. As technology and telecommunications advances, cities have become the centre for the finances and its flow. Sassen argues that cities have now become strategic production sites for economic activities.
The authors really explain why globalization cause a huge impact on the maritime industry in the section maritime transformations responding to globalization. This section is the main focus of the paper; additionally, the authors gave the reader a lot charts and table to get the point across to the audiences. Lastly, the last part of the article talks about how this change cause big impact on the