International Business Strategy and Team Management
Classified in Social sciences
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Globalization: Advantages and Disadvantages
Advantages
- Technology: It shortens distances thanks to technological advancements.
- Development: There is growth and development in developing countries.
Disadvantages
- Cultural Loss: The tradition of each culture is lost as new cultures are inserted. This is why people show more interest in a new culture than the traditional one.
- Market Competition: Small national companies disappear due to competition from larger multinational companies.
The Role of Culture in International Business
Culture is a society’s (or group’s) system of shared, learned values and norms; as a whole, these values and norms are the society’s (or group’s) design for living.
Cultural Considerations for Success
- Understanding the culture