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Globlization

In: Business and Management

Submitted By rajat1993
Words 915
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UNIT -1

GLOBALIZATION AND
INTERNATIONAL BUSINESS
Chapter 1: Globalization and International Business Prof. Madan Survase

Globalization & International Business

Learning Objectives
  

To explain the concept of globalization To elucidate factors influencing globalization To discuss global business expansion strategy for emerging market companies To explicate the concept of international business To delineate motives for international business expansion To expound the strategy for managing business in the

  

globalization era

Globalization & International Business

Chapter 1: Globalization and International Business Prof. Madan Survase

Globalization of Business: A Historical Perspective
In the initial years of human history, there were hardly any formal barriers, such as tariffs or non-tariff restrictions, for the movement of goods or visa requirements for the people. The concept of globalization can be traced back to the

phenomenon of a nation-state.

Globalization & International Business

Chapter 1: Globalization and International Business Prof. Madan Survase

Concept of Globalization
The process of integration and convergence of economic, financial, cultural and political

systems across the world.

Globalization & International Business

Chapter 1: Globalization and International Business Prof. Madan Survase

Definition of Globalization
Dictionary of Trade Policy Terms, WTO: “The increasing integration of national economic systems through growth in international trade, investment and capital flows.” OECD: “A dynamic & multinational process of economic integration whereby national resources become more and more internationally mobile while national economies become increasingly interdependent.” Jagdish Bhagwati: “Economic globalization constitutes integration of national economies into international

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