In recent decades, it is clear to see that globalization has been a part of a worldwide economic transformation. Businesses and governments are connecting globally and expanding production through operations that essentially increases exports and imports. Globalization did not happen overnight, there have been many key drivers in this economic procedure and since 1970, international business has slowly risen to the powerhouse which it is in our 21st century today.
What we do know is that globalisation was driven and is still being driven by the advancements in technology, transportation and the global financial market. Lowered costs, upgraded digital communications and the accelerated use of cargo ships has helped the expansion immensely and …show more content…
I consider it as a part of technology due to the fact that technology change helped make transportation what it is. With updated machinery and resourceful services, the invention of commercial jet aircrafts and super-freighters international trade is simplified because of shortened travel time, and being able to go from one country to another (Hill, Cronk and Wickramasekera, 2013. Pg.25). Yet we can also consider the usefulness and magnificence of a super-freighter because the cargo amount that it can carry has made an immeasurable difference to global business …show more content…
Which further underlines how outsourcing strengthens globalisation. Due to the fact that the efficiency of a production can be better in one country than it is where it currently produces. This acceleration of internationalism follows in line with the theory of international trade, which I believe to be a smart way to manufacture and grow within global trade. I also believe that these tactics within trade have created a progression that takes full advantage of globalisation because in a business mindset efficiency is key to the succession in a
What we do know is that globalisation was driven and is still being driven by the advancements in technology, transportation and the global financial market. Lowered costs, upgraded digital communications and the accelerated use of cargo ships has helped the expansion immensely and …show more content…
I consider it as a part of technology due to the fact that technology change helped make transportation what it is. With updated machinery and resourceful services, the invention of commercial jet aircrafts and super-freighters international trade is simplified because of shortened travel time, and being able to go from one country to another (Hill, Cronk and Wickramasekera, 2013. Pg.25). Yet we can also consider the usefulness and magnificence of a super-freighter because the cargo amount that it can carry has made an immeasurable difference to global business …show more content…
Which further underlines how outsourcing strengthens globalisation. Due to the fact that the efficiency of a production can be better in one country than it is where it currently produces. This acceleration of internationalism follows in line with the theory of international trade, which I believe to be a smart way to manufacture and grow within global trade. I also believe that these tactics within trade have created a progression that takes full advantage of globalisation because in a business mindset efficiency is key to the succession in a