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Globalisation today: what it is and what it means for international marketing 02161 Essay Example

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Globalisation today: what it is and what it means for international marketing 02161

In this regard, globalization has played a significant role in many countries and encouraged it to become the independent developer in global market. It is observed that globalization has created dramatic change in business environment globally. The threats and opportunities related to globalization have forced the companies around the world to devise strategies accordingly (Cable, 1995; Poggi, 1978). The companies respond to these trends for improving their performances and retain the customer base without losing them to its competitors.Globalization is defined as closer integration of countries around world and its people. Closer integration helps in connecting the people around the world with each other on a common ground. It refers either to a company or an economy. Globalization results in reduction in cost of communication and transport; globalization also helps in breaking the artificial barriers that are developed against the flow of services, goods, capital, people and knowledge. It is actually a complex range of social, cultural, political and technological changes that can be observed as an increasing interdependence, interaction, integration between the companies and people (Held, 1991; Modelski, 1972; Hirst and Thompson, 1996).International business is referred to the wide range of business activities that can be undertaken across the national border. With the increasing globalization, it is observed that international business has gained prominence and drawn attention of government officials, business executives and academics. It is evident that there are both opportunities and challenges in the international business. Hence, the managers of the companies have to take care of this phenomenon before devising any strategy internationally and manage the international operations.Globalisation, in the contemporary scenario has transformed into a rapidly spreading phenomena in context of the corporate sector. However, in the old times it basically influenced the international business sector and the multinational firms which are depicted by various scholars such as Held (1991) and Modelski (1972). Presently, according to Castellani and Zanfei (2006), the impact of globalisation on the MNEs can be better reflected by observing the fundamental characteristics of the business houses. The large scale

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preview essay on Globalisation today: what it is and what it means for international marketing 02161
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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