Globalization And Production Globalization On Business Essay
knowledge becomes increasingly interconnected. Globalization increases economic growth and generates a wider
range of products and services. Globalization refers to the changes in the world where we are moving away from
self-contained countries and toward a more integrated world. Globalization of business is the change in a
business from a company associated with a single country to one that operates in multiple countries.
The impact of globalization on business can be placed into two broad categories: market.
globalization and production globalization. Market globalization is the decline in barriers to selling in countries other
than the home country. This change will make it easier for your company to begin selling products internationally,
since lower tariffs keep consumer prices lower and fewer restrictions when crossing borders makes it easier for a
company to enter a foreign market. Production globalization is the sourcing of materials and services from other
countries to gain advantage from price differences in different nations. (Carol Woods)
Globalization of business can have a profound impact on the decision-making processes of managers
responsible for making these complex interrelated decisions.
Expanding the geographic footprint of your business has always been an expensive and risky proposition – the