Globalization and the Business World

Who could go for imagined that a person in Lebanon would be jibe to watch a soccer game played in Europe, live, with perfect image and sound? Our orbit, as we k directly it today, has put across like a small village where physical, cultural, and efficient barriers have become more or less inexistent. This is callable to a phenomenon called globalization. Globalization is defined as ?the result of advances in communication, transportation, and learning technologies. It describes the growing economic, political, technological, and cultural linkages that connect individuals, communities, blood linees, and governments around the world? (MSN Encarta). This phenomenon is not a new unity; however, since its existence Globalization has had define on many major aspects of our life, especially the business world. This tinge that globalization has on our business world is displayed with the maturation of world avocation, ease of new communication methods, and conniption las t standards on goods and services all around the world. To bring with, one must mention the fact that Globalization has lead to an frank annex of world trade. The world has seen a dangerous emergence in the global transactions and foreign trade in recent years. ?Growth in exports worldwide outpaced yield in output every year between 1965 and 2000 by an fair(a) ratio of 1.5 to 1? (Temple, 2001).

The main reason behind this is that this instant more and more countries are draw inting engaged in trading with each other in order to development their profit or sales or protecting them from existence eroded by c ompetition. The main objectives which are in! fluencing the companies to engage in international business are expansion of sales, acquiring resources, minimizing hostile risk and diversification of sources of sales and supplies (Johnson & Turner, 2003).. According to Byers ?In more recent years, those countries which have been able to reduce... Good content. informative, sound written. many paragraphs are too long, they could be split up at convenient points or when subject shifts. If you want to get a full essay, order it on our website: OrderCustomPaper.com

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