Global Business Aspects: Drivers of Globalization, Barriers and Benefits of International Business, Role of WTO, and Difference between Domestic and International Market

This presentation discusses the drivers of globalization, barriers and benefits of international business, the role of WTO, and the difference between domestic and international market. It highlights the importance of understanding the scope of economic transactions across the world and the role of WTO in liberalizing international trade. The presentation also covers the impact of trading blocks on world trade and the benefits of enabling free trade activities between different countries.

INTRODUCTION
This poster will discuss about the
drivers of globalization, barriers and
benefits of international business, the
role of WTO and the difference
between domestic and international
market
Drivers of globalization
Globalization refers to the process of the movement of
people, goods, technologies and also the information
across the national boundaries. There are several drivers
behind the globalization of the business (Segal, U.A.,
2019). It mainly includes the government, cost, market
and the competition.
Barriers and benefits to internationalization of
business
There are various benefits of the expansion of the
business internationally such as it gives or provides
new markets for the growth and the expansion and
also give the new opportunities to increases the
profit percentage of the business
Difference between domestic
and international business
Domestic business refers to the
activities or the functions of
business and also the economic
transactions that are conducted
within the local borders of the
country. In this type of business
the sellers or the manufactures
and the buyers or the customers
belongs to the same region
(Jafari-Sadeghi and et.al., 2021).
Whereas, the international
business is that where the scope
of economic transaction are from
several countries across the
world.
The role of WTO
REFERENCES
Books and journals
Segal, U.A., 2019. Globalization, migration, and
ethnicity. Public health. 172. pp.135-142.
Giffin, S.A. and et.al., 2019. Pharma Collaboration for
Transparent Medical Information (phactMI) Benchmark
Study: trends, drivers, success factors, and value of
globalization in medical information. Therapeutic innovation
& regulatory science. 53(3). pp.332-339.
The effect of trading blocks in
international business
The role of WTO
The effect of trading blocks in
international business
The role of WTO
World Trade Organization (WTO) pays an important as well as
necessary role for the organizations in international business. It
is the only international organization that deals or made the
global rules and the regulations of the trade. It aims and
focuses on to liberalise the international trade which means to
remove the barriers between the nations regarding the
exchange of goods and services.
The effect of trading blocks in international
business
Trading blocks are now becoming very powerful for
the world trade and having the benefits of enabling
the free trade or the business activities between the
different countries that are geographically close to
each other (Bonga-Bonga and Mabe, 2020).