Globalization and Its Impact on International Business

1557 words 7 pages
Table of the content

Introduction....................................................................3

What is Globalization....................................................4

The engines for Globalizations…………………..……5

Globalization’s impacts on international business…..7

The road ahead for international business……..……9

Summary…………………………………….………..11

Reference………………………………..……………12

Introduction

Every day we hear it on the news, read it in the papers, overhear people talking about it… and in every single instance the word globalization seems to have a different meaning. So, what is globalization? What are its main drivers? Why and how does globalization impact international business? What’s the future of
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The drivers of globalization influence every aspect of the global business environment. On one hand it brings opportunities, on the other hands it also creates completion for all firms. Firms must remain vigilant to the fundamental societal and commercial changes that globalization is causing (Wild J. J., Wild K.L., Han J.C.Y. 2008).

 National business environment
Countries are different in their cultures, political systems, economic systems, legal systems, and levels of economic development. Despite all the talk about the global emerging global village and the trend toward global market and production, many of these differences are very profound and enduring. Managers in an international business in an international business must not only be sensitive to these differences, but they must also adopt the appropriate policies and strategies for coping with them (Hill C. W.L 2006).

 International business environment
International business environment influences how firms conduct their operations in both subtle and not-so-subtle ways. No business is entirely immune to events in the international business environment, as evidenced by the long-term trend toward more porous national borders. The drivers of globalization are causing the flows of trade, investment, and capital to grow and become more entwined—often causing firms to search simultaneously for production bases and new markets.

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