Essay about International Business Environment
INTERNATIONAL BUSINESS ENVIRONMENT INTERNATIONAL BUSINESS ENVIRONMENT
Globalization refers to the widely flow of production factors within the entire globe in order to understand the optimum resource allocation. Different authors provide different definitions of globalisation with their profound research. According to international monetary fund, globalization increases the rapid and extensive transmission of technology along with international commodity, transactions of service and scale of global capital flow. The mutual independence of economy is also strengthened by Globalisation.
Economic globalisation builds international capital, production, technology, market, resources and manpower in order …show more content…
Secondly, the trade of information technology has also turned to an important driving force to develop global trade. Economic globalization is based on this rapid development of modern science and technology where the advancement of technology is the material base of the economic globalization. However, the core reflection of this advancement of technology is the rapid development of information technology. Economic globalization reacts to this information technology while the process of economic globalization is promoted which further develops information technology. The trade of information technology has become the engine of the development of the global trade. The elimination of tariffs, reduction of cost of information production and promoting the labialization of trade are the effectiveness of the production of information technology which are the general requirements of the global trade nowadays.
The third feature global trade liberalization is the rapid increase of service trade which is closely related to the economic globalization. Multinational companies are playing significant role with the trade of goods and services and investment in