Essay on Global Trends - 1308 Words

1. Conducting Business during the 21st century has many dimensions. To what extent are national forces being superseded by global trends, especially in terms of multilateral institutions such as the European Union and various economic agreements in the Western Hemisphere and Asia? When a company considers investing internationally, what circumstances should influence how much priority is given to global concepts and/or national differences when evaluating the four alternatives for strategic choice? Globalization has triumphed since the last century after the end of the cold war in the late 1980s. It has made extensive efforts to unify the world’s economic order, created tremendous benefits for the countries that participate and is the†¦show more content†¦The trade agreements in the western hemisphere such as the North American Free Trade Agreement (NAFTA) which exists between the United States, Canada and Mexico has led to the removal of trade barriers and restrictions on FDI. As a result, the Canadian and the Mexican economies became stronger. A similar trade agreement exists between the â€Å"Asian Tigers† i.e. Japan and China and the United states known as the Asia- Pacific Economic corporation (ASEAN) and it aimed at eradicating the trade barriers that exist between these countries. The main function of the World trade organization was to facilitate trade amongst countries and currently it has 120 countries under it’s umbrella. These agreements and organizations are facilitating economic integration on a regional and worldwide basis. Major companies that participate in investing internationally are affected by these economic integrations. Market entry strategies such as FDI, Joint ventures, Mergers and Acquisitions, franchising etc. are highly dependent on these integrations and enhance cross-border collaboration among businesses. When a company decides to invest internationally and become a globally competitive firm, it must develop an international strategy based on the firm’s overall strategy. Three objectives namely efficiency, flexibility and learning must be taken into consideration. The firms need to be efficient overseas inShow MoreRelatedGlobal Trends in the Environment Essay945 Words   |  4 Pages The environment of planet Earth is being harmed and the causes of environmental degradation are mostly man made. Natural resources are being exploited to provide energy, food, and technology for an ever-growing global population. In the process, the globe is warming at an unprecedented rate, water and air are being polluted, and forests are being destroyed; however, awareness and education are encouraging the search for environmental first aid. 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