Globalization as a business condition and international business are often used synonymously in casual conversations. However, when this concept is applied especially to company functions when moving beyond domestic boundaries, they are quite distinct. Globalization has a more comprehensive and universal idea of the global market, while international business is applied to a business model in different markets.
Thanks to advances in technology and communication, the Internet, the emergence of new developing and developed countries and a more open view of free trade, the world has become a more global economy in the late 20th and early 21st centuries. The United States has signed free trade agreements with Canada and Mexico and has formalized a global partnership with other countries. The evolution of the global economy gives countries opportunities for mutually beneficial economic partnerships and gives businesses better opportunities for less limited trade.
Globalization of business
Globalization at the business level is linked to the development of a unified global business system. In essence, a domestic company prefers to set up or manage its business around the world, and does so with a fairly universal approach. Operations, marketing, advertising, sales and services are generally consistent from one country to the next when a multi-national company has a global business strategy.
International business, although used to describe the interactions between and among global businesses, is used in various applications to express the strategy of operating your business in each global market. When companies use international business practices, they behave as unique markets in each country. And the suitability of each country Suitable for business activities, marketing, advertising, sales, service and other business tasks by adjusting.
Understand the differences
By comparing globalization with international business as a management and marketing strategy, you can identify several specific differences. An international business strategy usually costs more money, as you need to develop unique business systems and processes for each market. Globalization in marketing and advertising means consistent delivery across all markets and generally uniform brand and product messages. International marketing means you develop and communicate individual messages more effectively in each country and culture.