International Business Essay Example | Topics and Well Written Essays - 1000 words - 1

International Business - Essay Example The Cold had ended, with the emergence of one single bloc. The world had become a single ‘market place’ (Eriksen, pp.3, 2007). This was aided by the phenomena, Globalisation. Globalisation is undertaken as a reality, and Renato Ruggeriero has put it aptly, a reality that has overwhelmed all others (Scholte, pp.1, 2000). Globalisation has been aided by free trade and the increment of international businesses. What in essence is free trade? There are various definitions of free trade; free trade is trade that is not held up by national or international laws (Baggini, Fosl, pp.32, 2010). Globalisation is a term that is on everyone’s lips. However, only a few people have had a clear and definitive definition of the term. However, definitions form the basis of an individual’s perceptions and evaluations (Scholte, pp.42, 2000). The definition of globalisation, according to the European Commission is: â€Å"Globalisation can be defined as the process by which mar kets and production in different countries are becoming increasingly interdependent due to the dynamics of trade in goods and services and flow of capitals and technology† (Held, pp. 92, 2000). In essence, increased trade, and international economic activity, faster communication networks define globalisation. In a way, globalisation has led to the compression of the world. Due to this, the world has been brought closer, in different ways, for better or for worse (Eriksen, pp.4, 2007). The beginning of the paper will identify the benefits that have been brought due to increased trade and international business. The neo-liberals largely advocate the working of the free market, and in effect promote free trade. A very common theory that promotes free trade is that of comparative advantage. This theory assumes that there are two countries in the world, each producing one single good. In a way, these two countries will only produce goods in which they are better off, because it wi ll be more profitable, and exchange the goods with each other. Therefore, ‘comparative advantage theory’ is the rationale for free trade. For example, India and China have a comparative advantage in the production of clothing because of cheap labor. In addition, Japan has a comparative advantage in electronic equipment because it has a technological edge (Gitman & McDaniel, pp.73, 2008). David Ricardo gave this theory. Technically speaking, the consumption frontier of a country will lie outside the production frontier of a company due to free trade (Thirlwall & Lopez, pp.7, 2008). In addition, another rationale for free trade has been the neoclassical factor endowment theory. This theory argues that it is not because of â€Å"technological differences that free trade is required, but because different countries are endowed with different factor supplies† (Todaro & Smith, pp. 560-565, 2003). In a sense, neoclassical thinkers suggest that trade has provided nations with the opportunity to capitalize on those resources which are abundant (Todaro & Smith, pp 561, 2003) In addition, although globalisation has received much criticism, a closer look into statistics will also show that globalisation has created wealth and jobs. Because of globalisation, livings standards have greatly improved, because a large consumer market is created. International competition also keeps prices down, therefore keeping the risk of inflation quite low. For example, since 1997,

Team Communication Essay Example | Topics and Well Written Essays - 750 words

Team Communication - Essay Example Team development can be achieved by effective communication which increased cohesiveness of the team. These types of work structures require a whole new notion of collaboration-collaboration with external constituencies. A potential impediment to the success of work teams comes from differences in employee preferences and values. Just as some cultures are more individualistic or more collectivistic than others, individuals within cultures also vary on this dimension-even though there is, on average, more variation across cultures than within cultures. For example, when faced with the prospect of moving to a team-based work environment, some employees in a study conducted in the United States expressed concerns that reflected their individualistic values. "The communication gauge is read by individually asking team members about the purpose of what they do, why this project exists, and what success looks like for the purpose of team understanding" (Thompson and Border 2008, p. 10). Nu merous impediments will challenge the effective implementation of teams across national contexts, including the inherent time lag between implementation and results, the often tenuous relationships between teams, cultural differences that require adaptations in practices to fit the context, and increasing domestic demographic diversity within nations. As temporary team structures, multicultural teams, and virtual teams proliferate, these team-savvy practitioners will be able to lead their organizations through successful implementation and use of teams in multinational contexts (Hermelis et al 2008). In addition to increasing the likelihood of informal communication through increased contact, proximity increases the quality of communication. By high-quality communication, we mean two-way interactions involving more than one sensory channel. The opportunity for interactions of this type is especially important during the initiation and planning stages of a project, when the need for a rich communication modality is strongest. In addition to increasing the likelihood of informal communication through increased contact, proximity increases the quality of communication. By high-quality communication, we mean two-way interactions involving more than one sensory channel. t (Thompson and Border 2008). The main challenges of team communication are diversity (cultural, age and gender and different perspectives on the research projects. Having multiple opportunities for high-quality, low-cost interactions makes it possible for potential collaborators to find each other and to manage their work efficiently. Without these opportunities for informal communication, collaborations don't get started, and if the opportunity for informal communication declines, collaborative work typically slows down, becomes more burdensome and, sometimes, comes to an end. Teams in individualistic cultures appear to be particularly susceptible to overconfidence. "That the biases inherent in self-selection could skew the exit questionnaires and thus our research findings." (Hermelis et al 2008, p. 342). Individualists view their team as an entity in and of itself rather than one that is connected to the external context and are therefore even less apt to use external sources of information to make correction s in their behavior and improve their performance. Particularly in