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Globalization and Culture

Corporations are interested in the relationship between expense or cost incurred and income or profits earned. For most corporations, entering international markets is expensive, but the payback is substantial. Sometimes, corporations find it difficult to cope with the local conditions, but they need to deal with such conditions to be able to seek entry into international markets.

Tasks:
Research articles on globalization by using the key words globalization, international business, and culture.

Answer the following questions:
How has globalization impacted international business? Suggest ways by which you can derive benefits from globalization.
How has culture impacted international business? Provide examples from your research to support your views.

Solution Preview

Corporations are interested in the relationship between expense or cost incurred and income or profits earned. For most corporations, entering international markets is expensive, but the payback is substantial. Sometimes, corporations find it difficult to cope with the local conditions, but they need to deal with such conditions to be able to seek entry into international markets.

How has globalization impacted international business? Suggest ways by which you can derive benefits from globalization.
With the term globalization referring to the "growing interdependence of countries resulting from the increasing integration of trade, finance, people, and ideas in one global marketplace" (Globalization and International Trade, n.d.) the first impact can be inferred in that businesses can no longer work in a vacuum and conversely need each other to survive. With the narrowing of the global marketplace, liberalization has also taken center stage within the environment of international business. So saying, governments around the world have increasingly reduced the amount of protection they initially imposed on the economies and permitted local businesses to be exposed to the pressures and benefits of international business. Of course this is with the assumption ...

Solution Summary

Globalization and cultures are examined. How globalization has impacted international businesses are given.

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