The process of conducting business on a global scale is called Globalization. Nowadays, many companies are trying to expand to other markets in order to be more competitive both locally and abroad.
The process of globalization is a natural reaction to the market tendency for companies, people, and governments of other nations to have more interaction and to be more integrated. The complete process is principally driven by international trade and the subsequent investments derived from foreign sources.
The globalization process has been aided by the newest technological advances of the information technology era.
It is not easy for a company to decide to go global. There are many different considerations that top managers must consider, before venturing into a foreign market. The wrong decision could damage your business in an irreversible way.
Globalization is here to stay, and only those businesses which conduct detailed research of the possible global markets they want to enter, are the ones that have a chance to be successful.
