The Role Of Globalization In Business

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The world that we live in, changes and improves continually in every aspect of life. Changes and improvements take place in the business world as well. As a consequence, transnational and other international companies, which have already reached the high level of excellence, are increasingly crossing the borders and filling the internal markets of neighbouring and remote countries, on all continents. They introduce new quality of products and services together with a new philosophy, new culture of the modern business, new rules of social-economic relationship. This phenomenon is connected with globalisation.
Philip G. Cerny (1995) suggests that globalisation is "a set of economic and political structures and processes deriving from the changing
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It requires adequate changes from every producer and national economics altogether. It is especially important for the countries with transition economies and can be characterized by the relatively low level of business culture. For such companies, globalisation is connected with various challenges and new opportunities. Particularly, Kinoshita and Campos (2003) claim that the geographical distribution of foreign direct investment (FDI) over the countries with transition economies depend on different factors, such as healthy legal systems, the growths of liberalization, trade openness and efficient governance (Kinoshita & Campos, 2003)
The processes of transformation of the economic system in Ukraine have led to abandoning the practice of governmental paternalism by improving the understanding of the role of enterprise as a social institute, shaping a new approach to the evaluation of its effectiveness and productive
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Fundamental changes in the geopolitical situation of Ukraine, which occurred since independence, and situational features of the modern state of transformation in the economy significantly increased the role of foreign relations in the development of the country. All of the existing factors are dictated by the objective of ongoing market reforms, which form a qualitatively new basis for further economic and social development. Ukraine is a young entrant into the system of world economic space, and it depends on economic and social development whether it will be successful or not.
The strategy for integration of Ukraine into the world economy should be directed on the restructuring of an economic system and increase the potential in export. One way to achieve it is to improve the investment climate and attract potential investors in the relevant sectors by governmental programs.
Ukraine has a great potential in export, and it is concentrated in such areas as agriculture, energy complexes, extracting and manufacturing industries. But unfortunately Ukraine hasn't succeeded yet in efficient management of its resources (Governmental support of Ukrainian Export,
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