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    This document provides an overview of international business and globalization. It discusses the process of globalization, key viewpoints on globalization like hyperglobalism and transformationalism, and the main elements that drive globalization including political, economic, technological and cultural forces. It also outlines the differences between international and domestic business operations and common motives for firms to internationalize, such as increasing profits, improving capacity utilization, gaining market power, and strategic objectives.

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    This document provides an overview of international business and globalization. It discusses the process of globalization, key viewpoints on globalization like hyperglobalism and transformationalism, and the main elements that drive globalization including political, economic, technological and cultural forces. It also outlines the differences between international and domestic business operations and common motives for firms to internationalize, such as increasing profits, improving capacity utilization, gaining market power, and strategic objectives.

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    This document provides an overview of international business and globalization. It discusses the process of globalization, key viewpoints on globalization like hyperglobalism and transformationalism, and the main elements that drive globalization including political, economic, technological and cultural forces. It also outlines the differences between international and domestic business operations and common motives for firms to internationalize, such as increasing profits, improving capacity utilization, gaining market power, and strategic objectives.

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    Download as ppt, pdf, or txt
    89 views14 pages

    WA0021.enc

    Uploaded by

    Lïkïth Räj
    This document provides an overview of international business and globalization. It discusses the process of globalization, key viewpoints on globalization like hyperglobalism and transformationalism, and the main elements that drive globalization including political, economic, technological and cultural forces. It also outlines the differences between international and domestic business operations and common motives for firms to internationalize, such as increasing profits, improving capacity utilization, gaining market power, and strategic objectives.

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    You are on page 1of 14

    International Business

    Sumati Varma

    Chapter 1
    Globalization and International Business

    1
    Learning Objectives

    •Understand the process of globalization

    •Discuss the characteristics of globalization

    •List the major motivations and drivers of globalization

    •Examine the major differences between domestic and international


    business

    2
    Globalization Is:

    • the process of increasing interconnectedness between societies.

    • characterized by the convergence of tastes and preferences in different parts of


    the global economy (e.g., McDonald’s burgers, Apple iPods).

    • facilitated by networks of information, technology, trade and investment flows.

    3
    Globalization Viewpoints

    GLOBALIZATION VIEWPOINTS

    Hyperglobalists Transformationalists

    4
    Hyperglobalists

    An extreme view that believes in:

    • the emergence of a global cosmopolitan corporate culture

    • the decline of nation states

    • the increasing power of TNCs

    5
    Transformationalists

    • View globalization as a complex, uneven process

    • A multidimensional view: includes economic processes alongside


    regional and cultural issues

    6
    Elements of Globalization

    Economic globalization

    Political globalization Cultural globalization

    7
    Economic Globalization

    • Globalization of the business corporation

    • Globalization of supply

    • Globalization of demand

    8
    Cultural Globalization

    A process of cultural homogeneity of the global economy. Cultural


    globalization is characterized by:

    • Cultural homogenization: uniformity and similarity in global products


    and processes

    • Cultural heterogeneity: local differences

    • Cultural hybridization: adaptation of the global to local conditions,


    meaning reattribution and re-contextualization

    9
    Political Globalization

    The emergence and domination of global and regional institutions and


    trans-governmental networks such as:

    • IMF

    • The World Bank

    • WTO

    • UNCTAD

    10
    Drivers of Globalization

    Political
    forces

    Increasing Economic
    competition forces

    DRIVERS

    Global Technological
    governance developments

    11
    International Orientations

    INTERNATIONAL
    ORIENTATIONS

    Ethnocentrism Polycentrism Regiocentrism Geocentrism


    (home-country (host-country (regional (world
    orientation) orientation) orientation) orientation)

    12
    International Versus Domestic Business

    Characteristics of international businesses that set them apart from


    domestic businesses:

    • Diverse business environment

    • Enhanced risk and uncertainty

    • Operational complexity

    13
    Motives for Firm Internationalization

    MOTIVES

    Increased profits

    Capacity utilization

    Market power

    Strategic motives

    14

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