Impact Of Globalization On Business Environment

In this report I am going to define the meaning of Globalisation and assess the impact of globalisation on the way the business operate.

The issue of globalization for the people of the United States has been a long and terrifying problem for them. Although other countries many have had issues with this problem it appears the U.S. is still being affected by it to this day. Although not everyone in the United States may have been affected by the issue. Majority of the people (mid class and lower class) have somehow been affected by it or knows someone that has been affect because of it. This issue of globalization has been talked about by politicians so it appears it had to been a major impact to the country. Thus, this issue of globalization has been an issue for the United States for a long-time way before the twentieth centuries. Therefore, this paper will discuss what is globalization and how it has impacted Americans views and how some people’s views changed because of it and finally, what is the impact of communications technology. All these key topics will help with getting a better understanding of what these issue is and how it has affected society today.

Businesses continually adapt to a changing environment to maintain their market position (Appelbaum, Habashy, Malo, & Shafiq, 2012; Biedenbacha & Soumlderholma, 2008). Change is inevitable considering the current rate of technological advancement and the growth in global competition (Appelbaum et al., 2012; Armenakis & Harris, 2009; By, 2007). Increasing competition and the need for strategic flexibility and globalization is affecting almost every organization today, regardless of size, market, focus, and so on (Jaros, 2010).

The business climate of today is extremely complex and challenging, forcing the economic agents to develop and implement a wide array of strategic efforts that help them overcome the threats. Competition is increasing within both national and international market places; customer preferences change and the demands of the labor force increase. There is political and

According to Friedman (2000 in Blythe & Zimmerman, 2005), globalization is the “inexorable integration of markets, nation-states and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation states to reach around the world farther, faster, deeper and cheaper than ever before, and in a way that is enabling the world to reach into individuals corporations and nation-states farther, faster deeper and cheaper than ever before.” Simply put, it is the connectivity of individuals and institutions across the globe or at least over most of it. Globalization basically ends up in the assumption that distinctions between national markets square measure attenuation and can eventually disappear because the world becomes a world village. It’s so safe to conclude that globalization may be a development that's here to remain and in and of itself, managers ought to create deliberate efforts to watch the worldwide surroundings to change their organizations to adapt to changes during this surroundings.

Globalization is the process whereby which there is integration and interaction amongst people, organizations, companies and governments of different countries. The process of globalization started a long time ago with the initiation of foreign trade with different countries. In recent years due to great advancement in technology, effective communication and better relations Globalization is a very common aspects of businesses, governments and other social segments of society. The process ‘has’ and ‘is’ effected by the social, cultural, economic and political aspects of different countries around the world. According to Thomas Friedman, globalization today is “farther, faster, cheaper, and deeper.”

Globalization occurs in three forms: political globalization, cultural globalization, and economic globalization. All forms work together to expand relationships and create a single place. On its own Economic globalization is a way for economic relations to extend and integrate across the world. Economic globalization and its policies as well as, the ideology of neoliberalism have a way of creating an inequality between countries and creates an endless debt cycle. International economic organizations have caused long-term effects due to the harsh conditions these organizations impose. A prime example of this effect can be seen in countries such as Jamaica. It is important to understand neoliberal policies and economic organizations in order to understand how debt still plays a role in today’s globalized economy.

The huge impact of globalization has caused some challenges in the world of international business. The major problem is the cultural differences among nations. Hofstede believed there is one common thing in all nations and it is called management. This term has different meanings in different countries. Globalization has afforded many opportunities for different countries to work together but it has also revealed some problems relating to the effectiveness of the managing of partnerships among different cultures.

Globalization first was introduced in the 1990s, but is considered and is accompanying the growth of businesses internally even now in the 21st century. Globalization is based on some factors that are simple to understand but hard to implement. Advancement of technology: Advance in technology increased the communication and travel internationally and made it easy and fast. Which in turn made the world seem small. Resulting in people understanding international events and news. Consequently, increasing travel internationally and presenting better opportunities. This understanding leads to increase in international trade and multiple MNC (multinational companies). All the above said increases mean an integrated economy around the world.

With the increase in globalization, there is more communication occurring between people not only of the same culture but of different cultures, making clear communication more difficult with regards to the syntax of different languages. These different cultures all have varied ways of teaching their people with regards to education, societal norms, and their culture as a whole. Cultures may be similar in one value while at the same time, they can be complete opposites in another. It is because of these differences, misunderstandings can occur and can lead to high tension within the workplace. Whether in written or verbal form, this is why you cannot just divulge your thoughts and expect the intent to be understood by the recipient.

“No one company any where in the world is big or strong enough to do everything on its own.

There was a time when most regions were economically self-sufficient. Locally produced foods, fuel, and raw materials were processed for local consumption. Trade between different regions was very limited. Today, the economies of most countries are so interconnected that they form part of a single, interdependent global economy. Globalization has been defined as “the process of international integrating arising from the interchange of world views, products, ideas, and other aspects of culture. ” With this meaning, perspectives, social norms, and business conducts are being exchanged across cultures. It has changed the world in more ways than we can imagine. The most profound impact of globalization is on the economy in nearly all markets.

Globalization has an important role in transport and trade to various countries around the world. With the many benefits of globalization, it also brings about diseases that normally would be contained by boundaries and the rate of spreading is enhanced. Third world countries have a higher risk of infectious diseases and an increased death rate. The World Health Organization has specific days designated for different issues: World Malaria Day, World Hepatitis Day, World AIDS Day, etc. The U.S. population can be affected by health threats across the globe; failure to act on and prioritize health and security can lead to disaster. The United States has “taken important steps to strengthen its capacity to address the threats posed by these

Globalization refers to the changes in the world where we are moving away from self-contained countries and toward a more integrated world. Globalization of business is the change in a business from a company associated with a single country to one that operates in multiple countries.

Globalization is the process of increasing interconnections and linkages within societies and across international boundaries through improved communications and expanded world trade.