MGT 448 Global Business Strategies
Based on a global questionnaire, this evaluation was made. Included in this evaluation will be several comprehensive responses on globalization. In addition, globalization will be clearly defined as well as some international trade theories that help to support globalization. This assessment will also include what drives globalization while also giving examples of these driving factors. Finally, this assessment will discuss several of the effects associated with globalization that have major influences on the community as a whole. Globalization Defined
It was defined through International Business; competition within the Global Marketplace globalization has become a trend in favor of converting to a huge global market instead of distinct national economic units. Globalization is defined as a process of integration and interaction that takes place between companies, governments of all nations, and communities. The main drive of globalization is international trades and information technology. Globalization has an effect on many aspects such as prosperity, the well-being of individuals, culture, economic development, and much more (Nash, 2008). International Trade Theories
International trade theory was put into place to focus on difficulties associated with countries that have a poor economy, increases in prices, and large unemployment rate throughout their community. Some examples of international trade theories are Mercantilism, International Product Life Cycle and Absolute Advantage. International Product Life-Cycle Theory shows the ways in which a country’s exports can be turned into their imports with the aid of different stages. These stages include Maturing Product Stage, New Product Stage, and Standardized Product stage. Next, is the Mercantilism theory. This theory has a belief that economic...
References: Hill, C. W. (2007). International business: Competing in the Global Marketplace. McGraw-Hill/Irwin.
Nash, C. (2008). The Positive Effects of Globalization. Retrieved August 15, 2011 from http://ezinearticles.com/?The-Positive-Effects-of-Globalization&id=1126427
Please join StudyMode to read the full document