Globalization has influenced the way our world works today. This is the process of international business. Many of the items we are using at this very moment are imports, products produced in another country. Many businesses today rely on exports, products produced in their home country and shipped to other nations.
Global Business Cultural Analysis
Global Business Cultural Analysis Essay - Words
This page of the essay has words. Download the full version above. Businesses are affected by an external environment as much as they are affected by the competitors. Global factors influencing business are legal, political, social, technological and economic. Understanding of these factors is important while developing a business strategy. Social factors — These factors are related to changes in social structures. These factors provide insights into behaviour, tastes, and lifestyles patterns of a population.
A Competitive Advantages In The Global Business Information Technology Essay
Economic Globalization: the increasing integration of national economic systems through the growth in international trade, investments and capital flow. Financial Globalization: the liberalization of capital movements and deregulations, especially of financial services that led to a sport in cross boarder capital flows. Cultural Globalization: convergence of cultures across the world E.
The growth in the number of multinational corporations MNCs , which are the main drivers responsible for the internationalisation of production and capital, is also a good indicator of the globalization process. In fact, as a result of this phenomenon, since the early s exports and manufacturing from the G7 countries have begun to diminish, while the share of manufacturing in East Asian and Southeast Asian regions has grown rapidly. The decision by developing Asian countries to open up their economies and lower tariffs has persuaded many MNCs to offshore major portions of their operations. By attracting foreign direct investments from developed western countries China, South Korea and India, in particular, have managed to industrialise and achieve tremendous rates of GDP growth. This, in turn, has also helped commodity exporting countries such as Russia, Brazil, and South Africa to develop their economies.