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The Study of International Business Is Fine If You Are Going to Work in a Large Multinational Enterprise, but It Has No Relevance for Individuals Who Are Going to Work in a Small Firm. Evaluate the Statement.

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[1] "The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in small firms." Evaluate this statement.

Comments:

Globalization is changing the world economy. Firms, even small ones, can no longer ignore events going on outside their borders because what occurs in one country has implications for the rest of the world. Individuals who believe they can act in isolation by working for a small firm are not being realistic, but rather myopic and insular. Today, thanks to advances in technology, many small firms sell and source internationally very early in their evolution, those that fail to take advantage of international opportunities may not achieve their full potential, and ultimately may fail as competitors that do recognize the importance of international business dominate. In the United States, for example, almost 90 percent of firms that export employ fewer than 100 people. They also account for more than 20 percent of U.S. exports.

[2] How have changes in technology contributed towards the globalization of markets and of production? Would the globalization of products and markets have been possible without these technological changes?

Comments:

Technological change has made globalization a reality. Major advances in communication, information processing, and transportation have brought the world closer together. The development of the microprocessor is perhaps the single, most important innovation as it increased the amount of information that could be processed by individuals and firms. The Internet has facilitated the creation of a 24/7/365 market place where information is available in real time. Advances in transportation have enabled firms to take advantage of the savings associated with dispersing production to low cost…...

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