International Business FINAL Essay Example | Topics and Well Written Essays - 3500 words

International Business FINAL - Essay Example The trend of distributing the production networks all over the world offers a firm the advantages like competitive edge and cost cutting. Competitive edge is achieved when the firm’s produced products are sold all over the world bringing in a good amount of profit. Cost cutting takes place when the firm’s production system takes into consideration and exploits all the cheap factors of production that are available in different parts of the world at cheaper price. 2. Globalization has created lots of changes throughout the world. The changes introduced both positive and negative impacts on the countries. It is believed that the developed countries reap the maximum benefit out of the process of globalization. The developed nations shift their production units to the places where the cost of production will be cheaper. The cheaper production cost helps the nation to generate more profit from the sale of their produced products. This is helping the economy of certain develo ped nations to prosper and grow. However on the other hand the underdeveloped nations and the developing nations are constantly losing their resources which are being purchased by the wealthy nations for the purpose of manufacturing products and services which in turn are again being sold in the developing or underdeveloped nations. Thus it has become a topic of debate that addresses the issue whether globalization is a blessing or a curse. The positive side of globalization is that it enhances the job opportunities and economy across the world. But the negative side denotes that since the developed nations are shifting their plants to the overseas nations due to the availability of cheap resources, the labor there are getting under paid in comparison to the labors of the developed nations. Therefore despite the creation of job opportunities, globalization also creates disparity in the amount of wages received by the workers of the developed and developing nations. 3. Religion is on e of the important elements of culture. Religion determines whether a person is Hindu, Muslim, Christian, Sikh, etc that implies which God does the person believes in and which rituals related to their religion does they follow. Globalization has created the integration of all the religions and this has affected the business operations to a great extent. For example the case of McDonalds can be taken into account in this respect. McDonalds prepare different kind of fast foods that contain both vegetarian and non vegetarian items. The non vegetarian foods contain chicken, egg, fish, beef, lamb, pork etc. However McDonalds have eliminated beef and pork from its wide range of menu while entering the Indian market, since the Indian market included people from both Hindu and Muslim religions and beef and pork are restricted for these two religions respectively. Moreover religion affects the language, dressing style, values and morals of a person. Thus the business operations get highly i nfluenced by these factors as these are the elements that form the basis of a human being. 4. The term culture includes the behavior, beliefs, arts, languages, institutions, etc. of an individual. Culture decides how a person should behave at a social