Corporations are interested in the relationship between expense or cost incurred and income or profits earned. For most corporations, entering international markets is expensive, but the payback is substantial. Sometimes, corporations find it difficult to cope with the local conditions, but they need to deal with such conditions to be able to seek entry into international markets.
Tasks: Research articles on globalization by using the key words globalization, international business, and culture.
Answer the following questions:
How has globalization impacted international business? Suggest ways by which you can derive benefits from globalization.
How has culture impacted international business? Provide examples from your research to support your views.