7/13/2023 0 Comments Opera mail download![]() In any international business relation, the uncontrollable factors, such as economics, politics, legal, technological, and culture, are expected to impact the trade processes and relations within the nations. The period of globalization, with its unparalleled intensification and acceleration of the flows of information, labor, and capital, across different regions is significantly impacting the culture across the globe. With the help of advancements in the information technologies, people in the Western regions are able to get familiar with the styles in the Eastern regions, and vice-versa. Hence, the term globalization comprises a system or a policy which promotes global interconnection and interdependence among the nations via advanced technologies. In addition to this, the process has also been addressed from the perspective of social sciences, international relations, politics, and economics. ![]() For years, globalization has been equated with the economic growth across the nations in the world. Globalization is a multidimensional phenomenon which encompasses not only the economic components but also the political, ideological, and cultural, along with other similar facets (Prasad & Prasad, 2006). Transnational flows of financial resources, people, culture, information, and goods across the nations have been witnessing significant rise over the years, thereby drastically transforming the world (Ritzer, 2001).
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