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Case Study on New Global Challengers in Business

   

Added on  2020-04-07

4 Pages451 Words33 Views
0Running head: INTERNATIONAL BUSINESSInternational businessName of the student:Name of the University:Author’s note

1INTERNATIONAL BUSINESSAnswer 1Dimensions of market globalization:The case study video ‘The new global challengers’ talks about the changes in the businessprocess due to globalization. This has resulted in huge growth in cross border trade. Thevideo explains about the key dimensions of market globalization which are as follows:1.Integration and interdependence of national economies: Achieving financial stabilityand economic growth is one of the major challenges facing countries today globally.The process of globalization or the integration of economies worldwide has becomeeasier due to movement of good and services across border. Technologicaladvancement has made it easier to complete trade and financial flows. Globalizationhas given people the opportunity to tap into diversified markets and this has facilitatedgrowth and interdependence of economies(Surugi & Surugiu, 2015). Hence,supported by the process of globalization, unprecedented growth in international tradehas occurred and each country is dependent on another for goods or services. 2.Rise in regional economic integration blocs such as the European Union: Regionaleconomic integration is also an element of globalization. For example thedevelopment of trading blocs like European Union has increased the movement oflabor and capital. Trade among EU member countries is high and they follow singlemonetary policy for trade and business However, such trading blocks can also createbetween parties competing for regional interest (Pettinger 2017)..3.Increase in global investment and financial flows: Due to the greaterinterconnectedness of global market and advanced communication process, newinvestment opportunities have increased. Hence, it has become easy for marketanalyst to identify risk and opportunities in business and create positive relationship

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