Globalization and Business: Internal and External Factors

GLOBALIZATION AND
BUSINESS
INTERNAL AND EXTERNAL FACTORS

INTRODUCTION
• Globalization has become an essential aspect of business during the
last few decades.
• It has affected the economy of the countries, society, business life and
international environment in various ways and changed them in
various ways (Keller, 2017).
• The changes brought about by globalisation are mostly associated with
the enhanced about of competition as well as the changes in the
information and technologies.
• These have either affected the business in positive or the negative
ways.
• Therefore, the all categories of business remain ready to respond
against thus effects and survive.

GLOBALIZATION FOR BUSINESS
• With the growth of national
economics, the business of different
countries have started to
internationalization process.
• The business of one country is
entering the market of another
country and either exporting their
goods or manufacturing in that
market itself.
• This is the reason why the business
are more depending more on the
external and internal environment
• The external environment of
the business include
• Political situation of the country
• Economy
• Social situation
• Technological growth
• Legal issues
• Environmental aspects.

GLOBALIZATION FOR BUSINESS
• These external issues get directly involved with the internal
factors which include-
• owners, employees, business culture and board of directors in
the oraganization itself
• Customers
• Competitors
• Strategic partners
• Governmnet and their regulations