GLOBALIZATION AND ITS IMPACT ON INTERNATIONAL BUSINESS

Abstract

Purpose of the study: The aim of this paper is to boost the knowledge regarding globalization and its impact on international business. International business is a vast range of business activities involving the exchange of goods and services among individuals and businesses across national borders. In conjunction with the galloping of globalization, international business has been a topic among business executives and has drawn the attention of all industries. Methodology: Data for this study were obtained from existing literatures on the role of globalization and its impact on international business. The methodology relied on existing previous literature on the subject being dealt with. Findings: Globalization in the international era and the contrasts between countries result in both opportunities and threats to international businesses. Therefore, all business entities need to bear in mind and take notes on any changes in the globalized business environment when executing any adjustment and resolution and in administering current international operations. Implication: The present study broke down how the various types of globalization affected international business. A firm’s competency to trade goods and services internationally, transfer their production to other countries, and pick up the knowledge from abroad on the efficiency of operation. It has been growing due to the technological advancement, rising earnings, liberalization of cross-border movements and cooperative arrangements among nations.