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Globalization affects international business
Introduction To Globalization
What are the consequences of globalization
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Part 2 – Research Proposal
1 Introduction
Globalization calls for a vital plan of action that backings creation and supporting of preference at a global level (Pfeiffer, Goodstein, & Nolan, 1992). Key plan of action constructs from the mutt rent circumstance to a dream of the fancied future state, with an outline of the real pathway. It brings together and deciphers space determinations, assets and capacities, speculation and joint effort vehicles, and timing and succession of focused moves, into another benefit model (Slywotsky & Morrison, 1997), an economical development model (Higgins, 1977), and a significant authoritative character (Albert & Whetten, 1985).
The impacts of globalization on vital plans of action are both homogenizing ("convergence" school) and mixture advertising ("divergence" school). The Convergence researchers (Pascale & Maguire, 1980) hold that as the nations change their businesses, create establishments, embrace current engineering, and accomplish industrialization, the vital business conduct would get comparable in light of the fact that individuals will grasp regular qualities with respect to investment movement and work-related conduct (England & Lee, 1974; Kerr et al., 1964).
The Divergence researchers, rather attest that national society, not financial belief system or innovative development, is (and will keep on being) the overwhelming constrain in molding the qualities, convictions, and demeanor of directors inside a nation (Hofstede, 1980, Laurent, 1983). Numerous researchers put stock in the useful comparability (Child, 1981) - globalization is not about convergence to best practice, but instead about leveraging contrast in an inexorably borderless world to increase separated positio...
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...ooks to make the research more authentic and accurate. Though this kind of research in mainly secondary and the data or the studies found might be outdated to provide the accurate analysis, still it can be done alongside the quantitative analysis to come to a definitive conclusion in the thesis.
3.1 Rationale
Through the analysis our research rationale would be to conclude the dilemma or the debate between convergence and divergence in globalization. Which of the two is more effective for a business or in what circumstances should each of them be used. The methodology as discussed will be conducted on the basis of this motive.
4 Conclusion
The conclusion will be based on the analysis of the quantitative and qualitative data collected from the primary and secondary researches done with the help of the questionnaire and various journals, books and online sources.
Ritze, George, and Zeynep Atalay. Readings in Globalization: Key Concepts and Major Debates. Chichester, West Sussex, U.K.: Wiley-Blackwell, 2010. Print.
The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalization on US companies, US society and economy, and the implications for other countries in the post-industrial world.
Osland, S.J. (2003). Broadening the Debate, the Pros and Cons of Globalization. Journal of Management inquiry, Vol. 12 no. 2, pp.137-154
In the last century, globalization has become a very tangible part of how business is conducted. Technological advancement allows international trade and commerce to happen rapidly and easily while the advancement in how goods are transported and how people communicate have had a drastic effect on the globalization of business. Management practices and culture also has a bearing on how international enterprise has is conducted. Managers have to adapt to different management practices, adjust to a new culture, and sometimes face ethical issues in a foreign field. Management is an important role in finance and enterprise that has far reaching consequences on the globalization of business.
The development of free-market economics has, since the 18th century, resulted in the spread of a set of ideas, creeds and practices all over the developed and much of the developing world. Today, the globalisation of trade, capital, technology and innovation has accelerated competitive conditions for businesses all over the world. Globalisation may be defined as the opening of markets to the forces of neoliberalism and capitalism; it is characterised by the free movement of people, talent, skills, capital (intellectual, social and economic) across international borders. All kinds of barriers have either been swept away, diffused or made obsolete by the forces of globalisation: trade barriers, subsidies, geographical boundaries, linguistic and cultural differences. Technological advancements have pulled the world closer and, in the process, affected how labour relations and worker/employer relations operate and develop. The multinational corporation as well as the public sector alike are affected by global competition.
Gilpin discussed the MNC’s evolution through the lenses of a number of business economic theories. Using Raymond Vernon’s Product Cycle Theory, the overseas expansion of American companies until the 1960s was shown as a means of preempting foreign competition and preserving monopoly positions, which was possible then because of the wealth and technology gaps that existed between the US and the rest of the world (282-83). Following the closing of such gaps, Dunning and the Reading School’s Eclectic Theory explained the next stage of the MNC’s evolution as propelled by the great leaps made in technology and communication, which made internationalized management both possible and viable (283). Michael Porter’s Strategy Theory, meanwhile, asserted that the MNC is now in the era of strategic management, wherein activities and capabilities spanning borders allow it to “tap into the value chain” in the most advantageous positions (285-85). Gilpin made an interesting point, however, that MNCs are oftentimes the result of market imperfections and unique corporate situations. In many instances, the decision to expand a firm’s operations in another country was a means of circumventing protectionist measures and trade barriers, or simply to curry favor with governments, as practiced by IBM (280...
Globalization is a powerful phenomenon of the ever expanding world system. Globalization represents one of the most influential forces in determining the future of international relations. These international relations have multiple dimensions: economic, political, national security, environmental, health, social, and cultural. The focus here is on the concept of globalization as applied to the socioeconomic interconnectedness. According to Emory University’s Department of Sociology, globalization refers to, “The expansion of global linkages, the organization of social life on a global scale, and the growth of a global consciousness, hence to the consolidation of world society.” (Globalization issues, 2001). While globalization does not have a cl...
“The tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange”. The distances and barriers between countries, governments, organizations and individuals has significantly decreased due to the influence that globalization has on the world. Changes in one part of the world has a ripple effect on other countries and communities. This interconnectedness between economies and cultures has advantages and disadvantages, however, the impact that globalization has on individuals
Globalization can briefly be defined as ‘something’ that affects and changes the traditional arrangements of the state system. It is a term that directly implies change and therefore is a continuos process over a long period of time as compared to quickly changing into a wanted or desir...
As a conclusion international business best described as a Globalization. A globalizing business sector advertises viability through rivalry and the division of the work it permits individuals and economies to keep tabs on what they specialize in. It also allows people to go globally. Globalization has stretched the assets, items, administrations and markets accessible to individuals. The increasing set of reliant connections around individuals from distinctive parts of a world that happens to be separated into countries
4. Discuss the forces that are leading international firms to the globalization of their sourcing, production, and marketing.
Globalization, the acceleration and strengthening of worldwide interactions among people, companies and governments, has taken a huge toll on the world, both culturally and economically. It’s generating a fast-paced, increasingly tied world and also praising individualism. It has been a massive subject of matter amongst scientists, politicians, government bureaucrats and the normal, average human population. Globalization promoted the independence of nations and people, relying on organizations such as the World Bank and also regional organizations such as the BRICs that encourage “a world free of poverty” (World Bank). Despite the fact that critics can argue that globalization is an overall positive trend, globalization has had a rather negative cultural and economic effect such as the gigantic wealth gaps and the widespread of American culture, “Americanization”; globalization had good intentions but bad results.
Science Initiative Group Institute for Advanced Study, 2007, Globalization: Trends and Prospects, Available from: http://sig.ias.edu/files/Egwang-_Welcome.pdf
Stonehouse, G., Campbell, D., Hamill, J. & Purdie, T. (2004). Global and Transnational Business (2nd ed.). Chichester: John Wiley & Sons.
Larsson, Thomas. The Race to the Top: The Real Story of Globalization. Cato Institute, 2001.