Globalization in the Business Environment

Globalization in the business environment 1
GLOBALIZATION IN THE BUSINESS ENVIRONMENT
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Globalization in the business environment 2
Abstract
The past decades have seen the development in the intensity of cases of globalization in a
business environment. Globalization has been argued to be the primary force that has shaped
societies, politics, as well as economies. The major objective of this research paper is to evaluate
different theories on perspectives on the extent globalization within business operations. This
paper focuses on illustrating if impacts of globalization have been positive or negative for
various consumers together with wider global society. The presentation of this paper commences
by giving a clear description of the concept of globalization in the business environment.
Following the definition, the presentation of this paperwork will outline some of the key
perspectives of globalization phenomena. Some of the aspects that will be addressed in this work
comprise of hyper-globalist perspectives along with skeptics’ perspective. After that, the
presentation of ideas on this paper will aim at the examination of policy concern and the manner
it connects to skeptics’ perspective on the case of globalization. The presentation concludes by
examining various impacts that globalization has on the consumer and wider society before
giving verdict whether it has positive or negative impacts to the two elements under examination.
Introduction
Globalization refers to a concept that has received a lot of argument to have no distinct
description. However, it has been recorded that globalization refers to the process of interaction
as well as the integration of people, corporations, alongside authorities around the international
communities. As the complex as well as multifaceted phenomena, globalization is a term
considered by some individuals in the business community to be the form of capitalist
development that entails the integration of local with national’s finances into the worldwide,

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unregulated economy of the market (Negoita 2013). However, the aspect of globalization in the
business environment has grown due to several reasons. For instance, it has grown due to
advances in the system of transportation and advancement in the technology used for
communication. With advancements in international interactions comes the development of
global trade, customs, and ideas of conducting businesses. Globalization thus becomes primarily
the financial or economic process of interaction as well as integration that is linked with different
aspects such as social alongside custom aspects (Fırat 2017). However, cases of diplomacy and
conflicts are also large sections of the history of globalization together with modern
globalization. Therefore, the primary objective of this research article is to crucially compare
diverse perspectives on the level of globalization within the business setting through ideas that
are drawn on relevant theories. This paper also aims at examining if the influence that
globalization has are optimistic or harmful for customers alongside wider community.
Globalization in the business environment
In most cases, globalization remains to be the term utilized to describe how various
nations, individuals, and businesses around the global society are becoming more interconnected.
The interconnection is evident due to different forces that include technology, transportation, and
media, along with international economies that make it simpler for goods and services across
traditional boundaries or limits (Barannyk 2017). Besides, globalization offers both benefits as
well as challenges to customers, business operators, and wider society. It is clear that
globalization can provide a tremendous chance for economic progress to improve the life quality
for most individuals. It can also lead to different challenges with the workers’ welfare, their
economies, and the environment as businesses globalize and shift their operations amid nations

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to take advantage of lower charges of conducting business in other markets around international
business community (Boon 2017). Globalization creates various opportunities for several nations
to experience expansion in their economies. Economic advancement is the enhancement in the
number of goods together with services produced by the economy over the duration. The best
way of classifying the economic progress of nations due to globalization is to divide them into
various categories (Khandwalla 2017). These categories comprise of industrialized, developing,
as well as less-developed nations. Therefore, the concept of globalization is generally used
presently not only in social science but in other areas such as journalism and popular disclosure.
However, globalization is still poorly described on how it impacts the business environment and
consumers in every activity they undertake in business.
The advancement in global economy in the current century as transformed economic,
political, social, and educational landscape in the profound as well as indelible manner. Never
before in the history of humanity has the pace of changes in business structure been more
pervasive, rapid, alongside international in its context (Yasin and Faqir 2016). The advanced
economy is supposed of the trilogy of different interactive forces that comprise of globalization,
liberalization of trade, and the revolution of information technology and communications.
Globalization has melted different borders of states, free trade has improved integration of the
economy, and the revolution of communication and information has been made geography and
time irrelevant (Chung 2014). Moreover, the advanced economy is created on the custom of
innovation. Indeed, the mark of signature of the new global economy is new technologies, ideas,
along with new initiatives in the business environment.
Concept of globalization