International Business and Global Change

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International Business and Global Change

Introduction

International business has provided companies and industries with a chance to grow and develop in the world. It refers to the act of transferring goods and services from one country to another. It has also helped in improving the economic conditions of several countries, by providing them with an opportunity to deal across the border. Today, most of the organizations are dealing internationally, which has made them successful, and has also given them the opportunity to grow. International business has resulted in bringing change globally, and this change can be tracked easily by viewing the difference in the world since 1980. Globalization is one of the biggest reasons of bringing changes in the world, and these changes include improvement in foreign relations, trade of goods and services around the world, global presence of brands and products, change in lifestyles, attitude, culture, way and standard of living and globalization has also improved technology. The global changes and a comparison of 1980's business world and today's business world are done in this paper, which will help in understanding the several changes brought in the global world.

Factors Affecting Globalization

International business and globalization have been challenged by different factors, which include political, environmental, economic, cultural, and financial factors. The government of the countries decides that to what extent the countries can participate in globalization, and can get involved in trade of products, goods and capital from one country to another. The different factors affect globalization, as when an organization existing in one country is getting globalized and is entering another country, it has to follow the political, environmental, cultural and financial aspects of that country. The government is responsible for protecting their economy by setting strong policies for international trade so that their economy is not affected in a negative manner. They need to set policies which can protect the political and governmental rights, environmental conditions of the country and also protect the culture.

Critical Review of the Key Studies and Their Results

The world has undergone several changes as a result of globalization and international business, where products, goods and capital are being traded from one country to another. Globalization has resulted in bringing changes globally, and these changes are influenced by different factors. The global changes are brought in by globalization and international business, and these have also created uncertainty in the world. There are many positive as well as negative changes that international business has brought in the world.

The era of 1980's changed the face of the world economies as more and more countries started taking part in globalization and welcomed other economies to enter their economy. The foreign relations were improved, and the financial conditions of the countries have also improved. The trade helped in creating a balance in the economy where imports contributed in production of goods, and exports helped in raising money for the economy.

International business has brought changes in the world as it ...