Globalization Has Changed The World Of Business Essay

2051 Words May 9th, 2016 9 Pages
Globalization has drastically changed the world of business throughout the years. Once independent from the business needs and demands of other nations, companies have had to adapt and overcome the repercussions of this ever-changing event in order to remain competitive and afloat in their industry. One way to ensure sustainability and growth is by establishing practices of international trade and manufacturing to be preformed outside of the United States making the organization a multinational corporation (Block & Hirt, 2014).
As an aspiring entrepreneur of a children’s clothing line, one of the top priorities would be to find a good quality material at a reasonable price. With labor costs in China rising and factories in Bangladesh not complying with request from *clients* India is emerging as a premier destination for textile products, rising 17.5% in the year 2013 compared to the previous year (Malhotra, 2015). According to India’s Foreign Trade Policy an export is defined as an act of taking out of India any goods by land, sea or air with the proper transaction of money ***XXX***. Driven by their transformation and growth, India utilizes the skills of their nationals, the countries improving infrastructure as well as their financial and legal compatibility with various international systems to provide simpler, cheaper products for businesses around the world.
Before making a decision on purchasing the fabric from India simply based on price, one has many other factors…

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