October 16, 2012
Globalization and technology moves the world of business forward. Globalization and technology are essential elements in providing new grounds for business transactions. Understanding how globalization and technology work to make negotiating across countries possible. This examination will discuss the various implications of globalization and technology in the negotiation process. Further, provide insight into the value of globalization and technology in business transactions. Globalization plays a substantial role in the everyday business processes. Globalization allows companies or businesses to expand and outsource jobs to maintain a low price for products. “Negotiations and contracts constitute one of the major issues in business”(). Expansion to other countries will bring in more revenue for the business and create jobs. In a domestic business transaction, globalization may also include the expansion from one state to another. The business process may vary from state to state; moreover, the needs and wants of the consumers vary as well. In negotiation, globalization takes the same business processes into consideration regarding whether to greet people in a specific way, a preference of gender at business meetings, or even the style of business cards. Another method of globalization may be from purchasing an ethnic item at the grocery store. The negotiation process to arrive at an agreement or contract to distribute this specific ethnic product took place to allow this product to exist in the store. Undoubtedly, globalization employs the use of technology to permit an ease of business transactions. For example, instead of hosting a teleconference with the advancement of technology, businesses may videoconference and have the face-to-face connection. In relation to negotiation, videoconferencing allows the negotiations to take place through globalization....