Business

Business Globalization


 In regard to business and enterprise, globalization is the process by which the international exchange of goods, services, capital, technology and knowledge becomes increasingly interconnected.

 The term “Globalization” derives from the verb “to globalize” which embodies the concept of international interdependence between social and economic systems.

 The globalization of businesses is the distribution of different parts of a business over the globe. It also includes the collaboration and interdependence of businesses among each other.

 The International Monetary Fund (IMF) determined four aspects of globalization from a business perspective:



 - Trade and transactions (imports and exports)



 - Capital and investment movements



 - Migration and movement of people



 - Dissemination of knowledge



 Globalization is a natural phenomenon that allows domestic economies to gain larger array of products, services, human capital, investment, and knowledge by leveraging external markets.



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<p class="MsoNormal"> Globalization takes a business to another level by stretching it over the globe. An international business is very good for the economy of every nation it includes. It encourages the trade between those nations. When a business has branches is poor countries, it helps these countries by providing jobs for the people. Although many times, businesses exploit their poverty to get cheap workers and thus cheap products they can sell for expensive prices.

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The globalization of businesses is an important part of globalization; it is what started globalization back in 200 BC, with the Silk Road, followed by many trade links between the European Empires and in the 16th to 21st centuries, by many companies.

<p class="MsoNormal"> The modern abilities to travel and the invention of the internet are significant factors of the globalization of businesses, today.

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<p class="MsoNormal"> <h2 class="MsoNormal">Works Cited

<p class="MsoNormal">www.boundless.com/management/globalization-and-business

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<p class="MsoNormal">http://www.globalizationofbusiness.com/