Booksummary of Cross-Cultural Management: Essential concepts (3rd edition) by Thomas and Peterson
“Dramatic shifts in economics, politics and technology shape the role of the international manager. These shifts are often encapsulated in the term ‘globalization’.” (Thomas and Peterson, 2015) Globalization = A process whereby worldwide interconnections in virtually every sphere of activity are growing. Some of these interconnections lead to integration/unity worldwide; others do not. The increase in interconnections is the result of shifts that have taken place in technological, political, and economic spheres.Four categories of change that illustrate the process of globalization:Growing economic interconnectedness; Causes of a greater degree of interconnectedness are:The establishment of free trade areas. The three largest trade groups are the European Union, the North American Free Trade Agreement, and the Asia-Pacific Economic Cooperation.The World Trade Organization established with the goal of reducing tariffs and liberalizing trade across the board. Therefore, local economic conditions...
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