Essay International Business

12318 Words Jan 27th, 2016 50 Pages
International Business ( Semester 2, 2014) * Topic 1: Context * Globalization: There is no agreed or consistent definition for globalization but the key features including: * Everything and everyone equal * Intensive and rapid flows cross border flows (eg product, finance) * Not just economic but social, culture also. * Implication for nation states (countries)- a loss on power for the countries on politically as well as economically. * “ Globalization is about growing mobility across frontiers- mobility of goods and commodities, mobility of information and communications products and services, and mobility of people” ( Robins 2000). * Globalization has become a leading concept in doing …show more content…
* Information is the most expensive and valuable production factor in the current environment. It now can be easily transferred and exchanged from one to another country. This issue is similar to the technology is that the rapid changing of market requires also quick transfer of knowledge and efficient using of that knowledge and information. * Moreover, as globalization is increasing, corporate social responsibility is also one of the most major concern for all the business when doing business in home and host countries to ensure the compliance with local lawa, international norms, and ethical standard. It is the key elements in a company’s relationship with the society in which operates and its stakeholders, as well as other global entities, national government and individual citizens in order to maintain sustainability of the organization. * There are current trends in economic integration such as EU, AFTA, NAFTA, liberalization of trade and investment, globalization of market and products, roles of MNCs and supranational institutions like WTO, World Bank, IMF, United nations and ILO in globalization. * Question 6: Please explain why “ Globalization of Market” and “ Globalization of products” are important concept for International business? * According to Hill (2008), There are two main components for Globalization of Business: * 1. The Globalization of Markets: * Diversity in “Doing” business: which

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