For every organization, its goal or objective is to maximize profits. Over the years, the increase in competition causes organization to either disintegrate or rise on top of other competitors. Therefore, the best tactic for any organization is to construct innovative ways in conducting a business. To be more specific, globalization provides a key to an organizational success.
Globalization and International Trade Theories
Globalization is the “shift toward a more integrated and interdependent world economy.” (Hill, 2004, P6) In simpler terms, globalization is a business expansion in one or all 4 of the continental areas. Wal-Mart is an example of a business’s global expansion. Furthermore, Wal-Mart has successfully expanded its businesses in 4 different areas such as Europe, Canada, South America, and Asia.
International trade theories play a major role in globalization. Free trade is an example of the international trade theory. Mercantilism is the root cause......
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