Globalization - the growing integration of economies and societies around the world - has been one of the most hotly-debated topics in international economics over the past few years. I would like to describe three basic theories of globalization: world-system theory, world cultrure theory and world polity theory…
It is a capitalist world-economy because the accumulation of private capital, through exploitation in production and sale for profit in a market, is its driving force; it is "a system that operates on the primacy of the endless accumulation of capital via the eventual commodification of everything" (Wallerstein, 1998).
A polity is a "system of creating value through the collective conferral of authority" (Meyer, 1980). Nation-states are, of course, the invention of early modern times, institutions produced by the rise of capitalism. Capitalism required a jettisoning of the feudal regime with its patchwork of autonomous sovereignty. Difference was absorbed into the homogeneity of the nation-state, producing a unified legal code that protected private property and the investment of the capitalist and allowed for the circulation of a single currency. This economic act was, of course, represented as the creation of a harmonious community of people with a common language and a coherent culture and worldview.
World culture theory is a label for a particular interpretation of globalization that focuses on the way in which participants in the process become conscious of and give meaning to living in the world as a single place. In this account, globalization "refers both to the compression of the world and the intensification of consciousness of the world as a whole"; in other words, it covers the acceleration in concrete global interdependence and in consciousness of the global whole (Robertson, 1992).
From economic point of view globalization theories are devided into two theories: neoclassical and Marxist. Reassessing economic theories of globalization. Attention to the economic processes that shape positionality alters our ideas about the spatial dynamics of globalization. Much of the received wisdom of how markets work, both in neoclassical and Marxist economic theory was developed under the assumption that economies have no spatial extent. This received wisdom can be questioned, however, because the production of positionality challenges some key theoretical claims emanating from economics: the stability of market-based equilibria, the possibility of regional economic equality, the social benefits of free trade or land markets, the likelihood that rational choices lead to expected outcomes, the stability of class alliances, and the theory of value (Harvey 1982; Sheppard and Barnes 1990). It follows that the contrasting grand narratives about globalization associated with these two economic theories, of globalization as modernization and globalization as polarization, respectively, are also questionable. The global capitalist economy is better conceived of as an out- of -equilibrium, complex and contested spatiotemporal system whose long-term outcomes are unknowable.
2. Differences in national business systems
Initially differences in national business systems (NBS) could be explained by institutional differences. In order to be effective, business firms would not only have to behave rationally toward the market and be technologically efficient as organizations, they would simultaneously have to behave effectively toward the institutional context in which they operated. Thus, if the different European states constitute different formations of institutions, business firms will in effect organize differently ...
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(International Business Paper Exam Essay Example | Topics and Well Written Essays - 1250 Words)
“International Business Paper Exam Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.net/politics/291059-international-business-paper-exam.
The country has a multiethnic population made up mostly of young people, the median age of who are 18-19 years old. The political situation is one of the factors that determine success of investments. The business sector has potential the progress of which is limited by corruption, with many government agencies expecting kickbacks in exchange of contracts.
Also, strategy resulting from undue or total reliance on either factor may lead to forceful conditions for business to change the course of action; moreover, realization of this fact may occur in point of return having serious implications. Porter model enhanced emphasis on MBV considers the external environment only.
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This has had further adverse effects on the people of various countries, many of whom are being laid off from their jobs or are facing pay cuts as international and local businesses try to cope with the downturn in the global economy. It is this same story that is dominating the headlines all over the world from both a global and local perspective as mechanisms change and new measures are brought into place to buck the trend.
These new markets provide new avenues for business which can be converted into profitable opportunities. Globalization aided by communication technologies have made the locus of today’s business has shifted to the developing countries. In this scenario during the 1980s
good room for reaching out to more donors, present to customers an efficient way of booking gym sessions, and give customers an opportunity to air their views on the club’s progress and services, which would be vital to the club’s management for the purposes of improvements
d strategies of this company, Ajmal International in the market of the People’s Republic of China and that of Turkey with new cosmetics products along with perfumes and cosmetics. Currently, Ajmal International deals in one category of consumer goods which is fragrances.
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