International Business Essay Example | Topics and Well Written Essays - 3000 words - 18

International Business - Essay Example Although many scholars have worked to identify what the phenomenon of globalization is, they all have very conflicting views on what it actually is. The simplest way to describe the word has been done by Laurence e. Rothenberg who describes it as the acceleration and intensification of interaction and integration among the people, companies, and governments of different nations. This process has effects on human well-being (including health and personal safety), on the environment, on culture (including ideas, religion, and political systems), and on economic development and prosperity of societies across the world. Next it is important to identify how this came into being. The sudden rise in globalization can be attributed to the advances in communication technology. People all over the world want to remain connected with everyone, regardless of location and time. This means that now there scope of knowledge and information has broadened beyond their own city/country. People are now aware of the latest trends and happenings and this creates a simple need of wanting those same things in their own country. This has been identified by various corporate entities that look to expand their operations into other countries and tap into this prepared customer base. There are many advantages to globalization, some of them are: The integration of rich and poor nations is not a zero-sum game where the gains of one come at the expense of the other. Driven by the rapid democratization of information, technology, and finance, globalization is turning out to be a remarkably progressive, liberating force Globalization helps break the regressive taboos responsible for discriminating against people on the basis of gender, race, or religious beliefs. It is an antidote to the intolerant fundamentalism that oppresses millions of the world’s poorest Globalization causes the poor citizens having more