The term globalization, refers to businesses or companies who develop worldwide interactions or start managing the movement of money, people, goods, and ideas within and across national borders. In other words, globalization is connections (economic, political, social, and cultural) between people across the globe. And there are powerful forces that reshape local conditions on an ever-intensifying scale. Globalization has been increasing rapidly due to the integration of the global economy. Organizations are relocating factories.
Capital cultures ideas people information even threats have no borders to stop them and travel everywhere in the planet. Globalization symbolizes a world of free flow of technology and human resources that cross boundaries and present a competitive business environment. Employees, assets and products are moved freely everywhere in the same way. This means that a homogeneous international market of products and services is created and in order for businesses to withstand the size of that market they have to get bigger and narrow down their cost. ‘’Globalization is a widely and somewhat loosely used term intended to describe the recent and rapid process of intercontinental economic, social, and political integration.
To make the aim a bit more manageable and comprehensible, there are two specific research questions relating to the issues presented in this introductory chapter. Following the expressed focus, the first question is: Q1: Why are companies working with cross-border teams? This research question is important for all companies with multinational functions and operations. Before companies start to work with cross-border teams it is also important to understand the functionality of cross-border teams and how they are internationally successful. The outcome of this research question is to show the reader the commercial relevance of Global Business Teams and how international companies transfer working strategies within cross-border teams to be successful.
The world today is characterized by constant growth, expansion, and intensification of social relations between different countries and cultures (Chen, 2012). Due to these different cross-cultural encounters, the world is defined by being globalized and interconnected. This means that different societies around the world have established more than ever close contact with each other. This can be evidenced in the evolution of telecommunications, in the multinationals that are part of the global market, the development of aviation, the internet, etc. (Kuryleva & Boeva, 2010).
Furthermore this clarifies the ongoing process through the way countries and people communicate and integrate. In which has caused impacts to the world in numerous of ways i.e. socially, economically and culturally. For instant globalisation is seen as a means for economic development. This refers to the integration of “the domestic economies with the world and the inevitable consequential increase in economic interdependence of the countries through trade, financial and investment flows, freer factor movements and exchange of technology and information.” (Ogbabu & Ameh, 2012, p.49).
Transportation is done freely and those depend on the global economy. At this point, political globalisation is happening since it countries through trading system. Cultural globalisation explains the phenomenon of exchange of ideas, such as having reputations influencing other countries. As globalisation happens, countries are interconnected to each other. Throughout globalisation, individual states are facing several problems, class notes.
Digitalization of the technologies as well as the Internet has made it possible for us to seek, share and assimilate any information around the world within a fraction of a moment. Due to such advancements, media technology has been able to open the doors for realms of new and unending possibilities in the coming years and hence we know that this is just the beginning of Globalization and we have much more to see. Media’s role has always been to provide to the masses from every background, culture and class a clear-cut reality and perspective of the scientific, social, cultural, educational and political world. This nature of media, which makes it easily accessible to all the people in every part of the world on a “real time basis”, results in its global nature and because of its this fundamental power to reach a large number of people in every part of the world in a single micro-moment to basically convey a message or address any situation is what really makes media totally global in today’s
In modern times, the power of globalization tends to be unlimited and boundless for all business endeavors to develop exchange or trade in any part of the world. As we all know that globalization uses modern technology and powerful infrastructure to communicate and transact all over the world, this can be the tool for all business in all countries to have financial transaction and to expand its capacity for the overall development of their business. According to Gapuz (2013), there are various ways on the impact of globalization. These include the creation of worldwide environment in investment, management, machinery, and societal conditions that speeds up the growth of globalization. Through these, it helps to have more international trading and increasing employment rate.
INTRODUCTION Globalization is a very large entire marketplace towards integrated and interdependent world for improving efficiency and yields and reducing production. It is a complex process which link people, businesses or other organizations around the world to develop trade, investment, technology, education, information and communication or begin to operate as an international scale. It is same as Robert’s finding (2011), which stated that globalization is the process of interaction or integration among people, companies, government by different nations, through international trade and investment and aided by information technology. On the other side, the information in the Investing Answer (n.d.) has defined that globalization is an integration
It predominantly implies expanding incorporation with the countrywide monetary atmospheres, receptiveness to have the capacity to business, financial runs, and abroad essential buy. "Globalization besides shows internationalization with respect to creation, syndication and furthermore showcasing and publicizing in regards to things