Do the geographical and the national boundaries limit a business in the world of the 21st century? The answer is simply “NO”. The term Globalization has invaded the mind of every successful businessman and the concept of Global Village is a common issue in the modern business world.
What really the globalization is? The answer seems simple “if a firm or an organization expands its sales or production beyond the national boundaries, then it is globalization”, but it does not cover the real meaning of the term. Globalization actually means more, much more than that; it is realizing that there is a big world out there, geographically, that reaches far beyond our small community and that the world is getting closer to us all the time. Globalization is the realization that, whether we like it or not, this big world is becoming an ever increasing factor in our daily lives.
The concept of globalization today has invaded the globe and the national boundaries have been virtually eliminated. So what is the effect of this? Simple, the world today has became a small but a very very complex and dynamic neighborhood. Today we live in a global village and this means that our activities have crossed the national boundaries to become global. Today we do not need to rely on the products produced in our native place or look for a job in the hometown, but we think and act globally in terms of consumption or selling of our services. So is the case of producers or organizations of today, most of the big firms have already became the multinational giants. They may have there factory any where around the globe, they may sell their products and services in any markets and the most important thing is that they may hire qualified personnel from any corner of the world. This is all because of globalization and this all has become possible because the huge world of the past has turned into a global village today.
The globalization has changed the b...