The degree of globalization can be gauged by the political difference that exists between the trading countries. the cultural proximity can augment such businesses, the institutional factors that help increase the enrollment of international students and information dissemination. In short, without globalization, international businesses would not have seen such success.Globalization is a phenomenon that has gathered immense attention and importance in terms of business-related activities over the past two decades. It is due to globalization that different country economies, societies, social structures, cultures are now amalgamating together and a common global culture is emerging. The world has now become a global village, where more and more people are connected through advanced telecommunication systems. social networking websites have further strengthened these connections. When it comes to international business, one of the biggest reasons for its popularity and cost advantages is globalization. Improved communication networks, transportation networks, etc have helped both globalization and international business to prosper. Therefore, the impact of globalization on international business has been fairly fruitful and beneficial. (Scholte, 2000) Globalization even has been helpful in market expansion. making markets stronger, more diversified for risk, and efficient.This research paper aims to identify the advantages that globalization has had on the lives of people, as well as on the likes of a business. It then outlines the major areas through which globalization and international business are linked and support each other. they are through foreign direct investment, international trade of goods and services from all across the world. Another aspect of globalization, the linking of markets, is outlined through discussion on the recent financial crisis.
Globalization and International Business