“Globalization” Starting in ancient times and moving forward to the present day, our desire for goods from distant lands has linked cities and states together, and driven them apart. The narrative angles nearly every corner of the globe, while the purpose of Wilds book “International Business the Challenges of Globalization” is to provide the reader with insightful information on the history of international trade, business, geopolitics, and its impact the world. The purpose of this to narrative is to demonstrate the evolution and interconnectedness of global economics through the means of trade, business, and geopolitics while leaving its impression on the development of a globalized society we know of today. I have chosen to write about chapter one “Globalization” because of its impact on businesses worldwide. Through the process of globalization we are able to enjoy products made in distant lands, specialize in various aspects of production, servises and overall benefit from an interconnected global economy.
Technology is one of the key drivers of a globalized world, prior to the technological revolution long distance communication used to take days, even months depending on the distance it had to travel. In present times with many advancements in technology, information can be accessed instantaneously allowing for parties to share, and exchange information in real time. The recent technological boom has allowed for near instantaneous communication paving the way for wireless transactions, allowing money to cross borders electronically and business to operate overseas in a very efficient manner. According to the book, international business is defined as “any commercial transaction that crosses the boarder of two or more nations”. International business is a product of globalization that has allowed for business to operate on foreign soil, usually in order to