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Globalization should provide firms with an opportunity to leverage their know-how and reputation across countries to create value.
It is possible that globalization has only limited effects on Asian business systems at the structural level but significant transformational impact on Asian business firms at the level of key actors.
The findings suggest that a focus on the transvergence perspective can be an important addition to our understanding of how globalization can affect firm behavior and result in new business strategies.
These developments underscore the significance of a recent phenomenon in Chinese business — the globalization of Chinese business firms.
In this article, I argue that the dialectical tendencies of globalization towards homogenization and differentiation have differential impacts on the configurations and dynamics of Asian business systems and their constituents.
Such a proposition carries implications for the process of globalization as well as for the dominant frameworks utilized in International Business.
Journal ArticleDOI
01 Jan 1997-European Review
94 Citations
This paper argues that we do not and that the concept of globalization is often used in inappropriate ways.

Related Questions

How does globalization impact the financial performance of companies?4 answersGlobalization has both positive and negative implications for the financial performance of companies. On one hand, it creates novel prospects for growth and profitability by enabling businesses to expand their markets beyond borders. On the other hand, it poses challenges such as increased competition, cultural differences, and geopolitical risks. The COVID-19 pandemic has further highlighted the impact of globalization, with multinational corporations (MNCs) experiencing a larger decline in firm value compared to purely domestic companies (DCs) during the stock market crisis caused by the pandemic. The underperformance of MNCs is influenced by factors such as industry and region, and is exacerbated by stringent government responses. Additionally, the relationship between internationalization and financial performance is a controversial issue, with studies showing mixed results. In the case of firms in Turkey, their financial performance decreases as internationalization increases. Overall, globalization presents both opportunities and challenges for companies, and its impact on financial performance varies depending on various factors.
How has globalization affected the way businesses operate?4 answersGlobalization has significantly impacted the way businesses operate. It has created opportunities for growth and profitability by enabling businesses to expand their markets beyond borders. Companies have transcended nation states and operated on a global scale, leading to innovations in corporate structure. Technological advancements have also played a role, as businesses now face stiff competition and must look beyond their domestic markets for new opportunities. The intensification of foreign trade has become a fundamental requirement for economic growth and business internationalization. Additionally, globalization has led to changes in the country's internal trade, with an increase in electronic commerce and the development of new distribution channels. In summary, globalization has both positive and negative implications for businesses, requiring them to adapt their strategies, understand local markets, build relationships with stakeholders, and invest in technology and innovation to thrive in the dynamic global landscape.
How has globalization impacted the business environment?5 answersGlobalization has significantly impacted the business environment by creating new opportunities for growth and profitability, but also introducing challenges such as increased competition and cultural differences. Companies have expanded their operations globally, transcending national boundaries. Micro, small, and medium enterprises (MSMEs) need to focus on technological capabilities and analyze market opportunities to compete in the globalized market. Globalization and the use of digital technologies have led to changes in internal trade and the growth of electronic commerce. Additionally, globalization has driven managers to be globally oriented and has increased the importance of information and communication technology in business. Overall, globalization has shaped the global business environment by increasing complexity, breaking down national boundaries, and emphasizing the role of technology.
Why globalisation is vital for International Business.?5 answersGlobalization is vital for international business because it allows companies to participate in global markets, expand their operations internationally, and take advantage of comparative advantages in different locations. It enables businesses to access new customers, resources, and opportunities, leading to economic development, growth, and increased employment. Globalization also facilitates the establishment of business connections and cooperation across borders, disregarding national and cultural boundaries. For businesses to ensure their sustainable development, especially in the face of increasing economic interdependence and the importance of international markets, going global has become a necessity. However, while globalization presents opportunities, it also poses challenges, and firms from advanced economies tend to be more successful in going global compared to firms from emerging economies like China.
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