Business

How do the economic trends/forces affect the way we conduct business? How are these trends/forces necessary for countries, as well as companies, to succeed? Economic globalization is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through trade and financial trade. Many people see global economic integration as a malignant force that is crushing millions of workers’ aspirations while exacerbating inequality, unemployment, insecurity, and instability. Others argue that today’s global economy is on the way to delivering profound worldwide prosperity.

The proponents say that the information revolution is creating strong links between nations, peoples, and companies, even as the embrace of freer markets if fueling enormous increases in international commerce and encouraging democracy. I want to analyze the trends and forces that affect the way we conduct business and how these forces are necessary for our company and country to succeed. It is hard for us to ignore the impact that globalization poses on the business world because it eliminates many of the barriers we once thought were impossible to have. Take for example outsourcing to India; because of globalization it is easier for businesses around the world (especially in the United States) to outsource to India for cheap manual labor.

Within this research paper, I hope to eliminate many of the misconceptions that people have about globalization by providing examples of how we can benefit from this emerging international trend. Globalization does not have to be an evil force but rather a new way of conducting business with cultures that once were impossible to communicate with on an international level. This research paper is primarily intended for individuals who do not understand the implications of economic globalization on businesses. I will analyze the advantages as well as the disadvantages of economic globalization. This paper will provide information on how globalization affects the way we conduct business.

Thesis: Globalization is not just a trend; rather it is an emerging international force where the greater part of social life is determined by global processes, in which national cultures, national economies and national borders are dissolving.

I. What is Globalization?

a. Globalization is the process by which social institutions become adopted on a global scale

b. Globalization