How International Expansion has affected the Business world today
The business world as we know it today has changed from the business world that existed when our parents were growing up. Many business leaders and companies are beginning to expand their business internationally or globally. The advances in technology, and with the use of internet, television shows and politics we see the mention of globalization everywhere. What in fact is globalization, and how has it affected the business world today? When it comes to doing business internationally or globally, there are many different factors that one must take into consideration such as language ...view middle of the document...
However there are many business and companies who do not do as well making the transition from domestic to international expansion and end up hurting their company versus helping their company. Some companies do not understand all there is to know about doing business internationally and then there are other companies who have not educated themselves on the language and culture barriers that have an impact on doing business internationally. Not only do you have to be educated on language and culture barriers, but you also need to understand about the negotiation of contracts, and various laws that affect international business. “All managers need to have a basic knowledge of international business to be able to meet the challenge of global competition (Ball, Geringer, Mcnett, & Minor, 2013, p. 8).”
I have inspirations of one day opening my own professional organization business; I also feel that this business can be a benefit to not only the United States but to the international market. Professional organizers are becoming more and more of a demand in the US and if there is a demand in the US there also has to be a demand internationally. I can also use my business as a way to promote my faith. “Christian business owners are increasingly meshing prayer with profits- marketing to the like-minded, proselytizing to the unbelieving (Cullen, Akin, August, Brown, & Fulton, 2005, p. A6).” Along with expanding my business globally, I may also experience other challenges not yet mentioned depending on the country that I chose to expand my business.
However, before we can get into all the various factors and how some of those factors have affected international expansion and the business world, and my own personal business goals we must first have an understanding of exactly what globalization is, so let’s begin there.
According to Ball, Geringer, McNett, & Minor (2013), the most common definition for globalization “is that of economic globalization which is the tendency toward an international integration of goods, technology, information, labor and capital, or the process of making this integration happen (p.15).” Many companies and also countries are looking for ways to advance globalization and also their business or company. Over the past few decades the talks of globalization has generated both proponents for and against globalization. “The proponents of globalization have argued that the openness and integration is a beneficial process for countries. It will bring prosperity to the larger number of people in the world. They strongly believe that globalization is a key to economic development and reduction of poverty and inequality. On the other hand, opponents call globalization a depressing process that makes our world more unequal due to the limited role of government and the increased gap between those who participle in the integrating world and those who do not (Samimi, Guan, & Aziz ,2013,p. 237).” No...