Globalization in International Business

I need 2 replies to students at about 100 words each. I added in several students’ posts.

ANSWER

Replies

Hello Tabacu, globalization refers to the process by which organizations and businesses develop international influence. Globalization encompasses both economic and social changes. Companies that have gone global must adapt to the culture and the ways of life of the countries where they move their business. I agree with you that globalization has more advantages than disadvantages. Apart from the economic growth that it offers, it also offers the intertwining of cultures and the growth of new cultures that come from globalization. For example, in the fashion industry, cultures can borrow different styles and blend into each other, creating diversity and oneness.

Second Response

Hello Rebecca, the drivers of globalization include technological drivers, political drivers, market drivers, cost drivers and competitive drivers. I believe these four are the main drivers of globalization. Technology plays a crucial role in globalization. This is because it has been useful in the transportation of good services and the connection of different organizations t all parts of the world. I believe that globalization is advantageous despite having some disadvantages. Most good things have flaws in them, and so does globalization. Despite having a few disadvantages, globalization has numerous advantages, especially for people in developing countries who benefit from the job opportunities created by international businesses.