Globalization and Business Complexities Dissertation

Globalization and Business Complexities - Dissertation Example Methods, results, and their implications for business are discussed. Recommendations for future research are provided. Globalization and Business: Analyzing Complexities Introduction The process of globalization is actively discussed by different scholars and has not only many supporters but also many opponents. But before discussing its positive and negative effects it is necessary to define this term. Globalization can be described as â€Å"†¦a widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual† (Kose, Prasad & Terrones 2003). Globalization has already become one of the major trends affecting all aspects of national and international business activity. A phenomenon which leads to and causes global unification of the world’s business, economic, and social orders, globalization presents a serious challenge to businesses. That the concept of globalization is new cannot be denied. The gap between globalization and nationalization of businesses continues to persist. Globalization does not erase but on the contrary sharpens the cultural and social distinctions across countries and businesses. These however are not the only challenges faced by businesses in a globalized world. The current state of science does not provide adequate information on what businesses really think of globalization and how they can deal with it. Professional opinions and beliefs vary across groups and countries. However, better knowledge of individual and business perceptions of globalization and its complexities can create a foundation for developing new business strategies. This is why this study is designed to shed light on business people’s perceptions of globalization complexities and their implications for business development. Research questions and objectives The main objective of the study is to highlight the main complexities unde rlying globalization and their implications for business. More specifically, the study explores the main business complexities of globalization from the viewpoint of business people. As a result, this study will help to identify the main challenges of globalization in business, assess business people’s views on these complexities, their effects on business, and create the basis for developing new business theories, strategies, and frameworks. The main research question is: what are some of the complexities the concept of globalization has brought to businesses and how can they be minimized? Sub-questions: Are business people aware of the effects globalization causes on business? What do business people in Nigeria think of globalization? What are the main complexities underlying globalization and its implication for businesses? What is the most serious globalization complexity affecting business? How to minimize it? Literature review Globalization is the phenomenon pervading a ll aspects of international business activity. According to Kose, Prasad & Terrones (2003), globalization is essentially about rising international trade and financial integration of all economic processes, which has gathered steam in the past years. Changes in transportation, elimination of geographic borders, and recent advances in technology and communication contribute to globalization in all aspects of individual and