Globalization

Globalization

Today we live in a globalized world, many of the things that we use are not made in our country, but come from elsewhere; globalization is transforming industries, those who believed their jobs were protected from foreign competition are now in trouble. Globalization also has their advantages, you can find things that before you wouldn’t found anywhere, there is more competition therefore there are lower prices.

"Globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has several facets, including the globalization of markets and the globalization of production."
(International Business. McGraw-Hill, Page 12)

We can realize how everyday businesses are adapting more to the overall needs and not just to their country . Globalization goes faster everyday and we need to change with it , so we can adapt to the needs of others.

Many influential economists, politicians, and business leaders seem to think so.48 They argue that falling barriers to international trade and investment are the twin engines driving the global economy toward greater prosperity. They say increased international trade and cross-border investment will result in lower prices for goods and services. They believe that globalization stimulates economic growth, raises the incomes of consumers, and helps to create jobs in all countries that participate in the global trading system
(International Business. McGraw-Hill. Page 30)

Domestic companies are merging with Transnational corporations in order to grow faster and achieve their goals and objectives in a more easy and effective way .

When communism collapsed in Eastern Europe many opportunities for international companies were created and they would be able to start making your companies and businesses in an easy way and without barriers. This could affect domestic companies in different ways, such as competition.

Technology has been a key factor because globalization has helped companies improve their products and fix its shortcomings in order to achieve and be transnational companies operate in many parts of the world as a single market.

A problem that affects globalization are trade barriers , which often fail to have agreements with other countries, which impacts so that there is better communication between them and that they can market with no problem.

Foreign investment has increased dramatically in the last 10 years as world trade, every time it is easier to do business with other countries either importing or exporting goods and services.

If you are planning to take your business to another part of the world you have to take into account that each country is different , the problems and risks become tough, and many times what is allowed in a country to another is not.

Bibliography
Hill, Charles. “International Business: Competing in the global market, Ninth edition”. McGraw Hill, United States. 2011. Chapter 1.

Bibliography: Hill, Charles. “International Business: Competing in the global market, Ninth edition”. McGraw Hill, United States. 2011. Chapter 1.