Globalisation & its impact on International Business: A Study
Advent of a ‘Global Village’
Globalisation & its impact on International Business: A Study
“Globalisation is radically changing the international business environment by creating a ‘global village.”
Introduction
The intent of the paper is not merely highlighting the aforementioned viewpoint but to establish the ideology within the context of International Business amidst globalisation and understanding the increasing interaction and inter-dependence amongst the firms and businesses in various industries and the global market. Globalisation is one of those few phenomenons we hear about all the time and hereby we try to analyse the impacts that globalisation has had on the world. With help of some of the best, easy to comprehend examples, we try to understand how with time the business world has become more interactive, communicative and inter-dependent in nature and if it really has been in favour of firms competing in the market.
Globalisation in business is the integration process of the world through the use of international trading system. It unifies the local and foreign markets to make the trading even easier for businesses. In yet other words, we can call globalisation the process of increased inter-connectedness among the countries in the areas of culture, economics and politics. Firms competing in the market place have the luxury to choose their option and maximise their business potentials by the way of participating globally. Such process as a result, simplifies the corporate process of canvassing materials, production, marketing and distribution of products and services. The information System (IS) is quite different from the usual trading and thus businesses get alliance with ease other than supplies and labour forces from other countries as long as they follow the rules set by the global economic authorities including the World Trade Centre. (Scholte, 2005)
Is it not amazing when we turn an apple i-pod upside down and it says,
Globalisation & its impact on International Business: A Study
“Globalisation is radically changing the international business environment by creating a ‘global village.”
Introduction
The intent of the paper is not merely highlighting the aforementioned viewpoint but to establish the ideology within the context of International Business amidst globalisation and understanding the increasing interaction and inter-dependence amongst the firms and businesses in various industries and the global market. Globalisation is one of those few phenomenons we hear about all the time and hereby we try to analyse the impacts that globalisation has had on the world. With help of some of the best, easy to comprehend examples, we try to understand how with time the business world has become more interactive, communicative and inter-dependent in nature and if it really has been in favour of firms competing in the market.
Globalisation in business is the integration process of the world through the use of international trading system. It unifies the local and foreign markets to make the trading even easier for businesses. In yet other words, we can call globalisation the process of increased inter-connectedness among the countries in the areas of culture, economics and politics. Firms competing in the market place have the luxury to choose their option and maximise their business potentials by the way of participating globally. Such process as a result, simplifies the corporate process of canvassing materials, production, marketing and distribution of products and services. The information System (IS) is quite different from the usual trading and thus businesses get alliance with ease other than supplies and labour forces from other countries as long as they follow the rules set by the global economic authorities including the World Trade Centre. (Scholte, 2005)
Is it not amazing when we turn an apple i-pod upside down and it says,
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