Internationl Business Practice - Essay Example

The main person responsible for coining the term globalization is considered to be Theodore Levitt. With the passage of time, the phenomenon has grown at a steady rate whereby the setting under which it is held is one that focuses on the global patterns related with the sociological findings. The aspect of whether or not globalization is a newer form of western imperialism is manifested in the definition of the same word. Globalization, for that matter, is remarked as Internationalization since the nature of the two terms is on a worldwide scale more than anything else.

West tries to exploit the basis of globalization which the third world countries could bring to the benefit of the developed nations. However, on the part of the two terms, the one thing common however is the fact that these have identified themselves well with the changing (and growing) trends, where most of these are credited on the shoulders of the World War II, after which there has been a resurgent rat race nonetheless. Globalization is a phenomenon and it is one that is here to stay for long.

The world has become a global village due to globalization and it is a good omen if seen in the proper perspectives. In an economic zone, globalization plays a significant role at increasing trade on an international front which as compared to the global economy, is much faster and ahead of its time. Globalization improves the technological infrastructures and supports in the development of the telecommunications not only on a regional scale but throughout the world, thus providing help and facilitation to the west more than anything else.

With the help of globalization, the legal stance is one that focuses more on the increase in the number of different standards worldwide, which in all essence must be made use of. These include copyright laws, privacy obligations, patenting and others which somehow or the other mesh along well with the legal framework of different multinationals and institutions