...THE IMPACT OF GLOBALIZATION ON INTERNATIONAL BUSINESS GROUP NO-01 FMG3231 INTERNATIONAL BUSINESS ECONOMICS FACULTY OF MANAGEMENT CONTENTS PAGE NO An introduction to international business 3 What is globalization? 6 The impact of globalization on international business 6 Future of international business and globalization 12 Summary 12 Reference 13 1. AN INTRODUCTION TO INTERNATIONAL BUSINESS International business involves all commercial transactions—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment. An international business has many options for doing business, it includes, * Exporting goods and services. * Giving license to produce goods in the host country. * Starting a joint venture with a company. * Opening a branch for producing & distributing goods in the host country. * Providing managerial services to companies in the host country. Features of International Business Large scale operations: In international business, all the operations are conducted on a very huge scale. Production and marketing activities are conducted on a large scale. It first sells its goods in the local market. Then the surplus goods are exported. Integration of economies: International business integrates (combines)...
Words: 2743 - Pages: 11
...The Impacts of Globalization As humans, we usually tend to ask about each other and try to exchange new ideas. In our new world, this human’s habit has become easier than before, and that caused by the new technologies and mass media. People like the new interconnection in the world because it allows them to contact whoever they want wherever they are. Despite the benefits, there are some drawbacks of globalization, and the two main drawbacks are cultural and economic. Cultural threat is one of the reasons that make people worried about globalization. Some people are worried because they believe that their traditional culture may be in risk because of foreign influence such as the immigrants, who came to their country. Pew attitudes Project’ survey (2007), which covered more than 45,000 people around the global, demonstrated that most people in the countries surveyed are concerned about their culture traditions from immigrations. They think it may affect their national identity by immigrants bringing their culture with them. Also, there are some people who think about globalization from a different aspect. They think that their traditions may disappear from people who left their countries. For example, many young people from Paracho, Mexico are leaving the city toward America in order to find jobs. Their jobs as traditional guitar makers became less profitable, and the opportunity of having a good job in America is big, so people in Paracho are wondering how to keep on...
Words: 584 - Pages: 3
...Impact of Globalization Globalization of Markets: Refers to the merging of historically distinct and separate national markets into one huge global market place. Falling barriers to cross border market have made it easier to sell internationally. It has been argued for some time that the tastes and preferences of consumers in different nations are beginning to converge in some global norm, thereby helping to create a global market, for example Nike shoes are worn all over the world from Canada to Argentina, and from New York to Tokyo most people know about the brand name and demand that stores carry the brand. I recently visited the country of Colombia and found out that mostly everything that’s available in New York is available there also. I was able to find Rolex watches, Apple computers, Mercedes Benz luxury automobiles and so on. A company does not have to be the size of a multinational in order to participate and benefit from globalization of markets, any small firm can participate in the worldwide trade provided that they get the proper contacts and they do the proper due diligence to make sure they are working with legitimate companies in order to assure themselves to get paid for their goods and services because otherwise it would be very hard to collect on debt from overseas. The most global markets currently are not markets for consumer products, where national differences and tastes are still important enough to act as a brake on globalization. For example...
Words: 1807 - Pages: 8
...GLOBALIZATION AND ITS IMPACT ON BANGLADESH ECONOMY “Globalization was supposed to bring unprecedented benefits to all. Yet, curiously, it has come to vilified both in the developed and developing world”—Joseph E Stiglitz, Making Globalization Work, 2006. - PROF. DR. M A JALIL State University of Bangladesh ABSTRACT Today all the modern and developed and developing countries are more or less within the fold of globalization. Bangladesh with its expanding sway of exports and imports is no exception to that. Globalization is increasingly becoming more and more popular, because most of the countries see their better fortune in this arrangement. Globalization covers a wide range of issues, economic, political, cultural, etc. There are scopes of win-win gains of the involved countries in their dealings. Since the issue of globalization is more a dream than reality, an effort was made to make the readers more aware about the issue, so that they take more interest in implementing the nobler ideas of globalization. Bangladesh has been trying to bring structural changes in her economy- increasingly expanding the contributions of industries in GDP, trade liberalization, boosting up exports, exporting more manpower in abroad, encouraging them in sending remittances, and alluring the investors (both foreign and non-residents of Bangladesh) for DFI. The country found the results encouraging and more efforts will be rewarding. Recently, Bangladesh has taken efforts to diversify...
Words: 11046 - Pages: 45
...Challenges for Canadian International Trade CHALLENGES FOR CANADIAN INTERNATIONAL TRADE GROWTH WITH MULTILATERALISM TRADE March 4, 2011 Abstract This essay contains the international trade between Canada to U.S. and Canada to China including the foreign exchange policy in each country and comparative advantages. It mostly focused on U.S and China between Canada’s relationships. The United States and China are the largest economic market in the world. Also these countries are Canada’s most favor relationship in the international market. In 2009, the international financial crisis became a huge issue of the world. Due to this financial crisis U.S got a lot of damage. It made also Canada’s economic downturn, because of strong reliant on U.S. Over view, Canada has to be a stronger country with more powers, in order to maintain a good relationship with many other countries to help each other and have more successful economic growth. GLOBAL ECONOMIV DOWNTURN FROM THE FINANCIAL CRISIS In 2009, there was a global economic downturn from the financial crisis. Because of this, many countries got a lot of money damages. This put the world economic in most hard situation. Most of the people in the world spent such a hard time in this area. The main sources of this happened from some countries which were largest markets in the world such as the United State and other developed countries. From this economic downturn many developed countries reduced imports from other...
Words: 312 - Pages: 2
...Impact Of Globalization On Bangladesh Globalization has become a buzzword in the new era of international relations. Basically it is a process of expanding trade and commerce all over the world by creating a frontier-less market. But now it has had a far-reaching effect on many aspects of life Impact Of Globalization On Bangladesh : Impact of globalization is obvious in the following spheres : • Impact On Communication : With the impact of high-tech communication media and ultramodern transportation facilities, the world has come closer. Now we can learn instantly what is happening in the farthest region. Countries of the world have become like families in a village. They can share their joys and sorrows like next-door neighbors. • Impact On The Economy : The Impact Of globalization on Bangladesh economy cannot be denied. Like the developing countries of the world our country is getting benefit out of border-less market. Our GDP has increased. Garment industries are considered the foreign exchange earner. In terms of investment, employment and exports, the functioning EPZs(Export Processing Zones) have been greatly successful. • Impact On Modern Technology : Globalization is now largely based on a strong technological foundation. The electronic transfer of information via the internet has now created an instantaneous and inter-connected world of information resulting in a 24-hour trading network. This technology has largely changed banking and financial activities. Worldwide...
Words: 619 - Pages: 3
...Globalization impact on healthcare Faculty Advisor; Prof. Peter Carrillo Student; Mohamed Osman National University 03/31/2013 Table of Contents Abstract 3 Problem Statement 4 Globalization and Poverty 5 Globalization and Climate Change 7 Globalization and Immigration / Emigration 8 Globalization and Communicable / Non-Communicable Diseases 9 Conclusion 12 References 13 Globalization impact on healthcare Globalization is the process of promotion of economic integration, communication exchange, cultural diffusion and travel, which facilitate the exchange and connection between nations, commerce and individuals. The effect of globalization on healthcare and individuals is complex. The globalization of healthcare has provided opportunities for many organizations to rapidly develop their products and to expand their network of customers also global transportation and the communications revolution enabled rapid response to epidemics and catastrophes. On the flip side, the rapid mobility of people across borders, the spread of infectious diseases is a great threat to everyone, particularly in poor developing countries. “Today, no microbe in the world is more than 24 hours away from the gateways of every industrialized country, and what incubates today in the tropical rain forest can emerge tomorrow in a temperate suburb.” --Nils Daulaire (Kelley, 2005) The link between globalization and global warming and environmental...
Words: 2745 - Pages: 11
...The impact of globalization on the economy Globalization is one of the main features of modern society. Today it covers almost all spheres of human activity, and its influence becomes more and more obvious. To talk about the effects of globalization, it is necessary to understand its nature and the factors, sources, which led to its emergence. Today majority of scientists agree that economic globalization “is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital”. There are several sources of globalization. The first factor is technological advances. E-mail, the Internet, and the World Wide Web have significantly lowered the costs of transportation and communication in international trade and in doing business by and large. Next reason of globalization is trade liberalization that has led to more liberal world trading system. And finally source of globalization is creating globalized media, the arts, and popular culture with the widespread use of the English language for global communication. Of course there is not a complete list of the factors of globalization, but in my opinion, those mentioned sources are the most important. Globalization has significant impacts on all economies of the world, with various effects. There are heated debates around positive and negative effects of globalization. Leading pro-globalization arguments make a strong case that...
Words: 432 - Pages: 2
...Luwei Gao(Tim) Words: 879 Tutor: Mark The impact of globalization in Japan "Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with the free transfer of capital, goods, and services across national frontiers"(Businessdictionary.com:1931). As the development of technology, connect between each different countries become easier, more and more countries can be easy communication or trade with other countries in many different fields, for instance economic, cultural education and other fields, that can make these countries develop fast. The globalization becomes more and more important to each country, no matter development country or developing country. As we know, after the Meiji Restoration of 1868, Japan become a highly globalized country on many fields, like economy, science and technology, education and many other fields. This essay will introduce about the impact of globalization on economic, culture and education of Japan, analyze the impact of globalization on these fields. "The economy of Japan is the third largest national economy in the world after the United States and the People’s Republic of China and is the world's second largest developed economy" (Oecd-ilibrary:2012). As we know, Japan is not a country has a vast land and rich resources, especially whole country economy almost destroyed by World War II. The globalization is the most important reason can help developing...
Words: 1039 - Pages: 5
...Impact of WTO on Globalization Trade Policy Introduction World Trade Organization (WTO), found in 1995 and headquarters is in Geneva, has its clearly main purposes since its beginning that to promote economic and trade development all over the world. Up to the end of 2008, there are more than 135 members in the organization. In particularly, with the expansion of globalization trade, international business is more often than any time in the history. As one of the most crucial carrier of economic globalization, WTO establishes a set of international trade rules focusing on the liberalization, which play a strong role of encouraging and guiding in the process of economic globalization (Pauwelyn, 2005). This essay will mainly discuss WTO’s influence on the rules of globalization trade in combination with the current reform of trade policy. It will explain the topic from the following four aspects in detail: first, the basic rules WTO set up for the international trade, then, rules on e-commerce, the new rising global business, third, the preferential rules made by WTO for developing countries, and at last, it will discuss the impacts of WTO’s regulations on environmental issues when doing global trade. Basic Rules WTO set up for the Global Trade WTO's main objective is to provide adequate competitive opportunities for the trade among the members, which needs recognized common rules and principles for members to abide. There are two basic principles, namely the MFN principle (referred...
Words: 2421 - Pages: 10
...Culture and Globalization Table of Contents PREFACE ............................................................................................................................................................................... 2 INTRODUCTION ...................................................................................................................................................................... 2 GLOBALIZATION VS. LOCAL CULTURES .................................................................................................................................... 3 THE INFLUENCE OF U.S. CORPORATIONS ON LOCAL MORES ................................................................................................... 3 THE DOMINANCE OF THE AMERICAN MARKET .......................................................................................................................... 4 THE INTEGRATION OF CULTURES ............................................................................................................................................ 6 REAFFIRMATION OF LOCAL CULTURE ...................................................................................................................................... 6 A CLASH OF CIVILIZATIONS?.................................................................................................................................................. 7 CULTURAL IMPACTS OF GLOBALIZATION ....................................................
Words: 17261 - Pages: 70
...Assignment On Globalization and its impact on women rights and empowerment Course Title Development Economics Course Code F-210 Submitted To AlfarunnaharRuma Lecturer Dept. of Economics Submitted By Group- 01 Session: 2010-2011 Finance & Banking JatiyaKabiKaziNazrul Islam University Trishal, Mymensingh Submission Date: 24 January 2013 Members of group one Serial No. | Name | ID Number | 01 | Md.DelowerHossain | 11132601 | 02 | MahimaAkter | 11132602 | 03 | PankazePadaBhoumik | 11132603 | 04 | MahmudulHasan | 11132604 | 05 | SadiqurSattarAkand | 11132605 | Globalization and its impact on women rights and empowerment INTRODUCTION In the 21st century, globalization has become the ‘Zeitgeist’ re-shaping different dimensions in life. Globalization also affects women’s rights and its overall impact on women has become a critical agenda in gender-related studies. In an attempt to empirically investigate this argument, much of the literature focuses on the effects of economic integration on women’s economic activities. These studies look into the impact of globalization on women through an angle of traditional trade theory, comparative advantage and competition, thus analyzing whether economic integration could create more employment opportunities for women and increase their wages. This focus on economic integration and women’s employment raises the question of how certain types of economic reform affect particular forms of women’s rights and welfare. It is not...
Words: 4811 - Pages: 20
...1. INTRODUCTION Malaysia as described by many economists and development scientists is one of the fast growing developing countries in the East. The rapid process of economic development and increase number of population is a resulted from the globalization that Malaysia had experience. Globalization may be thought of initially as the widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual. Globalization is a situation explaining a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade (Wikipedia). Meanwhile, Palmer (2002) defines globalization as "the elimination of state-enforced restrictions on exchanges across borders and the increasingly integrated and complex global system of production and exchange that has emerged as a result”. Professor Madya Dr. Zaid Ahmad stated that, globalization is a recently emerging fashionable expression that carries several connotations. There are those who have used it to express what they argue as new phenomenon enveloping societies the world over. Generally, globalization involves three distinct processes such as the distantless, borderlessness and interconnectedness of nation-states Society always arguing about a process which is naturally unstoppable. Either unprepared for it or against it, they will simply engulfed...
Words: 5806 - Pages: 24
...THE IMPACT OF GLOBALIZATION ON HAIER Name: Institution: Date of submission: THE IMPACT OF GLOBALIZATION ON HAIER Introduction People across the world have been interacting with other cultures in numerous ways, many of them for economic reasons. Integrating the insights of the past, one could envisage that it was difficult initially for people to communicate and do business together. However, these obstacles still subsist even in today in international business. Despite that, our world has become undoubtedly smaller in the last decades, cultural and geographical contexts still take place in shaping different societies and their methods of relations. The term globalization is the method of international incorporation arising from the exchange of worldviews, products, ideas, and other aspects of culture. There are several factors generating interdependence of economic and cultural activities which include telecommunications and transport infrastructure. Most recently, due to the industrial revolution and innovation in the transportation and communication, the units of international interaction resulted into multinational corporations who were finding materials, labor, and clients outside their own. It can be realized that multinational corporations are agents of globalization. Haier Group Company has10 industrial parks world wide and 22 other plants overseas and has been impacted by the global world. The reality of this branches from the fact that it has many subsidiaries...
Words: 2864 - Pages: 12
...The review looks at the impact of globalization on the financial execution of creating countries with specific reference to Nigeria. The review utilizes the Ordinary Least Square (OLS) technique to dissect the model embraced, in which Gross Domestic Product is utilized as an intermediary to quantify monetary execution, and relies on upon the level of openness, conversion scale, and outside direct venture which are records of globalization. Yearly time arrangement information was gathered from the Central Bank of Nigeria (CBN) Statistical Bulletin from 1980 to 2010. The review uncovered that globalization has a noteworthy positive effect on the financial execution/development of Nigeria. It suggests that the legislature ought to consistently...
Words: 1117 - Pages: 5
