International Management

International Management

Question. How has globalization affected different world regions? What are some of the benefits and costs of globalization for different sectors of society (companies, workers, communities)?

Ans .

Globalization is defined as the process of linking and integrating different countries of the world. It can be further elaborated as the process involving economic, cultural, social, political and technological integration among the different countries of the world. Globalization has affected different world regions in a positive way and has brought wealth, jobs and technology to many regions of the world.

The benefits of globalization for different sectors of society are that it leads to increase in trade and competition in the market. As a result of which prices are lowered and economic growth is enhanced. The levels of investment also experience a rise. . Companies, workers and communities all benefit from globalization On the other hand, the different costs of globalization for different sectors are that under developed and developing countries usually have to strive hard to compete with the developed countries.

Question. How has NAFTA affected the economies of North America and the EU affected Europe? What importance do these economic pacts have for international managers in North America, Europe, and Asia?

Ans .

NAFTA has significantly affected the economies of North America and similarly the EU has affected those of Europe. Both of them are converting their respective regions into single integrated huge markets. These pacts have huge importance for international managers in the mentioned regions because they are seen by them as markets having huge potential for investment, trade and business.

Question . Why are Russia and Eastern Europe of interest to international managers? Identify and describe some reasons for such interest.

Ans .

Russia and Eastern Europe are of interest to international managers for some reasons. One of these is ...