Sample Essay Globalization of the world economy has come along with a number of challenges.…
According to Yeung (2002), “….globalization does not have an independent existence outside these forces and thus cannot be mobilized to explain empirical outcomes in the absence of these forces”. In other words, the management has to understand that it is correct to state that globalization as a phenomenon is not static in its features, changes in government operations, international foreign policies of countries, technological expertise, people’s culture, taste, and innovative technologies tend to bring a future change in the effect and assuming force of globalization.It is of paramount essence for the management to invest in the developed countries since their currency is mostly utilized for transacting business in international and sometimes local business across countries and happenings in these developed countries like, the US, Japan, and China, affect global business and investments climates across countries world. Globalization thrives in the countries with stable growth in the country’s economy over the years. However, recently, the economic depression in many economies had led to continuous fall in the international currency which has made management, economists and governments across the globe to have cause for concern. Nevertheless, the economies that have supported the growth of business concerns; especially for those with strong strategies that cannot be easily replicated (Ulijn et al 2000).
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