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Barriers and Challenges Within the Global Business Environment

University:

  • Unit No:
  • Level: High school
  • Pages: 10 / Words 2494
  • Paper Type: Essay
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  • Downloads: 668
Question :

This assessment will cover following questions:

  • Discuss and give examples of how the growth in international trade is impacted by the factors affecting global economy.
  • Evaluate how the global business environment impacts the growth and development of international business.
  • Explain global business environment with example of how the growth in international trade is affected by factors of global economy.

 

Answer :

International Business:

International business involves cross-border transactions which are related to goods as well as services between two or more countries which is also known as globalization. Globalization has grown due to advances in transportation as well as communication technology. Globalized companies will increase global interactions which comes with the growth of international trade, culture and ideas. In respect of that, the essay will explain and give examples of how the growth in international trade is influenced by factors affecting the global economy and analyse how the global business environment influences the growth and development of international business.

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Globalization is the word that is used to describe and explain the growing or interdependence of the world's economics, culture and populations which has brought about cross-border trade in goods and services. The international monetary fund is identified in four basic aspects trade and transactions, capital investment movements, movement of people and dissemination of knowledge integration (Doh, Luthans and Slocum, 2016). There are a number of indicators present that show the growing importance of globalization, such as capital movements and foreign direct investment, international trade and economic activity of international firms, employment and internationalism of dissemination of technology. The indicators on capital investment and foreign direct investments. Economic globalization increases economic interdependence between various national economies that are across the world through a rapid increase in the cross-border movement of goods and services, technology, and capital.

The key indicators of globalization include international trade, technological advancement as well as international investment. There are explained main drivers of globalization are technological drivers, market, cost, and competitive and political drivers. The phenomenon not only has economic consequences but also has social, political, cultural and legal aspects (Bedianashvili, 2016). Technology gives shapes and sets the foundation for modern globalization. Technological drivers, With the help of technology businesses, are able to make innovative products and services for the company to meet success in the global market. The main and rapid growth of the internet is the use of the latest technological drivers which are creating global e-business and e-commerce. Market drivers, as the domestic markets become more and more effective which are create opportunities for positive growth for the company to overcome these situations (Three types of Trade Barriers, 2018). For customer needs or opportunities use global marketing channels and transfer marketing for extent incentives to selected internationalization. The cost driver is sourcing costs vary from country to country and global companies can take effective and valuable advantage of this fact. Competitive driver, in the global market, having global intercompany to increase competition. This creates the strongest interdependences among the countries and high two-way trade which supports business at the international level.

Barriers of Globalisation

Barriers to globalization have gives impact on the business at the global level. Those are here explained in a proper manner such as technological barriers, ethical barriers, economic barriers, cultural barriers and legal barriers. Trade barriers are included in economics because trade barriers affect directly the economy of the country in a negative manner (Tallman, Luo and Buckley, 2018). These barriers government government-induced restrictions on international trade. This includes tariffs, import and export licences and other factors. The tariff is a related world of tax and non-tariff is a barrier to trade and can take many forms. This may include subsidies to domestic producers, import quotas, special packaging and labelling regulations. For example: increasing the rate of tax on imported goods creates an impact on the

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