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1.INTRODUCTION Globalization involves a variety of links expanding and tightening a web of political, economic and cultural inter-connections. Most attention has been devoted to merchandise trade as it has had the most immediate (or most visible) consequences, but capital, in and of itself, has come to play an arguably even larger role than the trade in material goods. Human movements also link previously separate communities. Finally, there is the cultural connection. All the individual data would indicate that we are undergoing a process of compression of international time and space and an intensification of international relations. The separation of production and consumption that is the heart of modern capitalism appears to have reached its zenith. Globalization is not just another "buzz-word" (globaloney), but very much a real and significant phenomenon. But, what does it mean? What does a globalized world look like? Despite the extensive discussion on globalization and international interdependence, we still have a relatively limited idea of what this new world looks like. We understand that there are more international connections taking place, that a wider variety of goods and services are being exchanged across boundaries, that more and more people live their professional, family, and intellectual lives in more than one country, and that cultural autarky is no longer possible. At its most basic, there is nothing mysterious about globalization. The term has come into common usage since the 1980s, reflecting technological advances that have made it easier and quicker to complete international transactions—both trade and financial flows. It refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity—village markets, urban industries, or financial centers. Markets promote efficiency through competition and the division of labor, the specialization that allows people and economies to focus on what they do best. Global markets offer greater opportunity for people to tap into more and larger markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, and larger export markets. 2. REASONS FOR GOING ABROAD Generally, the reason for even considering an international expansion fall into four separate areas... ... middle of paper ... ... 4.Gibbs Paul, 1992, Doing Business in the European Community, 2nd Edition, Kogan Page, UK 5.Hofstede G, 1980, Culture’s Consequences: International Differences in work-related values, Sage, UK 6.Hofstede G, 2001, Culture’s Consequences: Comparing values, Behaviors, Institutions, and Organisations across nations, 2nd Edition, Sage, USA 7.Lane H W, Beamish P W, op.cit., 1990 8.Merton R K, 1968, Social Theory and Social Structure, New York: Free Press 9.Morosini P, 1998, Managing Cultural Differences, International Business and Management, Pergamon, UK 10.Perlmutter H V, Hennan D A, Cooperate to compete globally, Harvard Business Review, March-April, 1986, pp.136-152 11.Psimmenos Iordanis, 1997, Globalisation and Employee Participation, Ashgate, UK 12.Seth A, 1990, Sources of value creation in acquisitions: am empirical investigation, Strategic management Journal, 11, pp.431-446 13.Trompenaars F, Hampden C, 1997, Riding the waves of culture, 2nd Edition, Nicholas Brealey Publishing, Finland 14.UK Business in Europe (A statistical Comparison), Eurostat, 1995, London INTERNET 1. www.tesco.co.uk 2. www.sklavenitis.gr 3. www.flash.gr 4. www.eu.com
Geert Hofstede, Culture’s Consequences: Comparing Values, Behaviors, Institutions, and Organizations Across Nations. Second Edition, Thousand Oaks CA: Sage Publications, 2001
The personal networking helps to build relationship with a larger range of people. Here to make the relationship some strategies need to be taken.
He soon became a successful trader in other London markets outside of the East End and also branched out into wholesaling for other market traders.
Globalization, a term that has an ever-changing definition. It is defined as “transcontinental-or interregional flows and networks of activity, interactions, and the exercise of power” by some, while it is the “widespread recognition of a world wide human or of world society as a whole as the framework of action” to others (Larner, 497). Globalization is ambiguous because it is used to describe an all encompassing practice. When thinking of globalization, the images that come to mind will vary based on one’s interpretation of the word. In this focus group we attempted to understand this powerful term and dissect what comes along with the practice of globalization.
“Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages” (What is globalization). For centuries many people and companies had invested in other countries even before the First World War. Globalization is a huge issue, because it affect on all the people around the world. It can affect in several of ideas, cultures, local and regional economics, societies, communication, and trade. Globalization can influence the environment of the people, security, and the exchange of the ideas between the countries. It distribute in a fast way, which emerge of new technologies, rise in free-trade activities, and markets worldwide acceptance.
Hofstede, G. (1993) ‘Cultural constrains in management theories,’ in Academy of Management Executive, Vol. 7, Iss. 1, pp. 81-93.
Since the late 1970s and early 1980s, a new position has become dominant in world’s major economic and political circles. This new and unprecedented situation is the term of globalization. Globalization can be seen as the present process of becoming global by the emergence of a world economy, a cosmopolitan culture and international social movements. Nowadays, we cannot avoid the notion of globalization as it affects everyone since it presents them with a world context which influences them in some of their doings.
As defined by the Oxford dictionary (2013), Globalization is the increase of trade around the world, especially by large companies producing and trading goods in many different countries.
The world "Globalization" is relatively new in the collective vocabulary. This expression appeared at the turn of Sixties and Seventies. The key feature of this process is the interconnectedness of the world. Today, trade, financial activity, cultural effect extends to the entire planet. The geographical location, definitely, puts a significant influence on strengthening relationships between countries, and developing interdependence relationships between participants.
Vitell, S.J., Saviour, L., Nwachuckawu, A. & Barnes, J.H. (1993). The effects of culture on ethical decision making: An application of Hofstede’s typology. Journal of Business Ethics, 12, p.753 -760.
In recent years the process of globalization has accelerated due to various factors such as increased labor, capital mobility and advancement in technology. Global travel has become easier due to improved transport. There has been a rapid growth in air travel which enables movement of people and goods across the globe. People are more eager to move to different countries in search of work opportunities. Global trade provisions now play a key role in transfers from developed to developing countries. In recent years there has been a general reduction in the capital barriers making it easier for the capital to flow between different economies. The expansion of the multinational companies with a global presence has also resulted in merger of various economies. Financial systems are also increasingly becoming global in nature. For example when USA suffered mortgage crisis, it affected majority of the banks in the other countries who had bought financial derivatives from the USA banks. Due to an increase in the growth of global media and technology it is easier to communicate and share information across the globe. There is a growing exchange of cultural patterns and ideas across the world. The people of the world are incorporated into a single world society. It has promoted trade liberalization of various national economies. Thus the major economic decisions in today’s world are being influenced by the global conditions. Globalization intends the process of removing officially imposed restrictions on the movements of goods between the countries to promote borderless and open world economy (Scholte, J.A. 2008). Globalization is the triumph of capitalism on a universal scale over nationalist and local sovereignty. Globalization is more than a purely economic phenomenon demonstrating itself on a world
The phenomenon of globalization as the acceleration and intensification of economic, social and political among the people, companies, and government of different nations around the world. Observers of globalization are increasingly recognizing that globalization is having a significant impact on matters such as local cultures, matters which are less tangible and hard to quantify, but often fraught with intense emotion and controversy. In this globalization western has a big part in order to influence others countries. Globalization, of course, does more than simply increase the availability of foreign-made consumer products and disrupt traditional producers. It is also increasing international trade in cultural
Globalization is the connection of different parts of the world. Globalization results in the expansion of international, cultural, economic, and political activities. As people, ideas, knowledge, and goods move easily around the globe, the experiences of people around the world become more similar. (“Definition of Globalization“, n.d., ¶ 1)
Globalization alludes to the inclination of worldwide exchange, speculations, data innovation and outsourced assembling to weave the economies of different nations together. In business and back, it essentially alludes to the monetary incorporation of worldwide markets, however the term is additionally used to depict socio-social combination among nations. By and large, globalization has had the impact of particularly expanding both worldwide exchange and social trade.
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.