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Globalization and its Effects on International Marketing - Term Paper Example

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The goal of this paper is to define globalization and its effects that have led to defining the form of an international firm today. The paper also discusses the impact of political, social, and cultural factors that have affected international marketing with reference to a particular case…
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Globalization and its Effects on International Marketing
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Download file to see previous pages There is a rapidly expanding literature on globalization and its impact on many aspects of peoples lives—including their working lives. There are many definitions of globalization. These range from narrow technical definitions, associated with the structure of international trade, to those that define globalization as a fundamental change in the ideological principles underpinning the international social, political, and cultural order.
As a result of the impact of globalization the overall world economy has been changed. On the one hand, this process is getting influenced by various internal and external environments of the firms operating in the global market place; on the other hand, the same has influenced various environmental factors in the countries these have been operating within. In the last few decades, the world has been experiencing various changes on the technological, economic, and political fronts. These changes have supported the reduction of various barriers to international exchange and trade. Faster communication and transportation services supported this exchange to a large extent. It also has minimized the cost of effective and speedy communications. Innovations in various fields facilitated the process of globalization worldwide. On the economy front, various countries opened their local markets for global firms. This also led to financial innovations. There has been tremendous growth in the financial innovations and the development of international bodies to protect and support global activities of firms. It eased the movement of capital from one part of the world to the other or within a country. On the political front government and states of various countries opened their market fully or partially based on their economy, local industries, and economical growth goals. ...Download file to see next pagesRead More
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