A Study on the Impact of Globalization on Business

Exploring the Multifaceted Effects of Globalization on Business

Abstract

Globalization refersto the changes in the world where we are moving away from self-containedcountries and toward a more integrated world. Globalization ofbusiness is the change in a business from a company associated with asingle country to one that operates in multiple countries. The ongoingglobalization increases the overall need for knowledge of cultural differencesbetween not only countries but also corporate cultures. More and more employersstart transferring their experts from country to country to help build newsubsidiaries or to support existing ones in certain projects. Their success isclosely linked to not only the obvious need for language skills but also theunderstanding of sub cultural influences, different communication styles andsocial behaviors of each society.