International business Essay Example | Topics and Well Written Essays - 2500 words - 3

International business - Essay Example Partly, this may be because not all those who use the term distinguish it clearly enough from the popular notion of internationalization. Some writers, in fact, use the two terms interchangeably (Ibid.). Literature shows there is no single agreed definition of globalisation, but that it may be the concept of the 1990s. According to Sklair’s (1999) research, its importance is much exaggerated, but most books suggest it is an idea whose time has come. To sort out all these ideas, globalisation as a concept makes use of Sklair’s (1999) taxonomy of perceiving globalisation in this paper towards the end. Each model is briefly discussed and analyzed from the point of view of sociology. The discussion tapers with a summary of these models, and as presented by Sklair (1999) makes note that they are dominated by European European-North American literature devoid of views from Asia. However, these are only done after discussions in light of how globalisation as a phenomenon has prevailed in the new millennium. What follows are how globalisation has visited the new millennium politically, economically, socially or otherwise. Globalisation, interpreted as global economic integration, is argued, as not being recent since there have been periods of globalisation over many centuries. (IPS, n.d.) It is only that there is now the increasing speed of movement of goods and services, people, capital and technology being experienced around the world. Specifically globalisation in the new millennium is marked by accelerated reduction in transport and communication costs, greater international specialization because of liberalization of trade, increasing trade in services due to the digital revolution, and increasing integration of major emerging markets into the world economy. (IPS, n.d.) . Politically, Macedo (n.d.) would add, the increasing alignment of cultural standards and standards of consumption; the weakening of