HARCOURT WHITE POLYTECHNIC

ELELE IKWERE L.G.A

RIVERS STATE

DEPARTMENT OF PUBLIC ADMINISTRATION

A SEMINAR TOPIC:
GLOBALIZATION AND ITS IMPACT ON BUSINESS

PRESENTED BY
JOHN ANGEL GISERE
2024/25/ ACADEMIC SESSION
NATIONAL DIPLOMA (ND 2)
023/ND/BAM/309

SUPERVISED BY: MR DARLINGTON ONETE

 ABSTRACT –

The modern liberal, capitalistic and economic action becomes a conglomerate of factors and
reasons, analysis, information, means, mediums, skills and predispositions. In terms of
minimized barriers and openness of the world, the inevitable process of the globalization and
the business actions represent projects that are facing success potentials, as well as risk and
failure potentials. The indisputable accent on these aspects is certainly the success and the
reliability of the business ventures for which the ultimate goal is the economic satisfaction,
minimizing the risks as well as the establishment of long-term experiences in order to maintain
a particular enterprise in a particular environment. The participation on the world's global
markets, the internationalization and the transfer of the business activities on all geographic
meridians, encountering different and often uncertain environments is a constant business
story of the international economic activity for at least three centuries ago. The global
economic interaction is as old as it is old the society in its more or less organized form. From
the industrial revolution until today, there is ongoing irreversible global economic integration.
The reasons are simple, business and profits do not recognize borders, national and cultural
unsurpassed characteristics, where more or less a mutual benefit of certain cooperation is
recognized, a business connection is immediately established.
KEY WORDS: globalization, internationalization, business, global markets, economic
integration
 Chapter 1:
INTRODUCTION TO GLOBALIZATION AND ITS IMPACT ON BUSINESS

1. Definition of Globalization
Globalization refers to the increasing integration and interdependence of world economies
through rising trade, foreign investment, and financial market integration. This phenomenon
has transformed the way businesses operate, compete, and interact with customers, suppliers,
and partners worldwide. Globalization has created new opportunities for businesses to expand
their reach, improve efficiency, and increase competitiveness. The global changes in the
world, changes in political, economic and business activities as well as the development of
technology, transport and communications, impose the need for enterprises in its struggle for
survival, to change their strategies and go out from the borders of their own country. Limited
market, competitive pressure, demand for cheaper resources and the dynamics of the
postmodern era, forcing business leaders to change their focus from traditional targets to
alternative measures for successful business and the entrance on global markets, with the
purpose of making competitive advantage.
The impact of globalization on the business International business is a term used to describe
all commercial transactions, in general, (private and governmental, sales, investments, logistics
and transport) which occur between two or more regions, countries and nations beyond their
political borders (Radebaugh & Sullivan, 2007).
International business refers to those business activities which include cross border
transactions of goods, services or resources between two or more nations. Transactions of
economic resources include capital, skills, people for international production of physical
goods or services, such as finance, banking, insurance, construction (Joshi, 2009).
According to Rugman and Collinson, international business analyzes transactions that take
place across national borders in order to meet the needs of individuals and organizations.
These economic transactions consist of trade (imports and exports) and foreign direct
investment (Rugman, Collinson, & Hodgetts, 2006). According to Ball, international business is
a business whose activities are carried out beyond the borders of their country and here not
only include international trade and international production but growing service trade in
areas such as transport, tourism, advertising, construction, retail and mass communication
(Ball, McCulloch Jr., Frantz, Geringer, & Minor, 2002).
The companies that are active in international business are called multinational enterprises.
Multinational enterprise is an enterprise or corporation that owns substantial resources and
performs various business activities through a network of branches located in different
countries and each branch form its business strategy, based on the different market
characteristics (Cavusgil, Knight, & Riesenberger, 2008). Multinational company is based in one
country but has business activities in several countries.
There are opinions that the multinational company is one that is so structured that conducts
business or property held in many countries or a company is organized into global production
parts.
The reasons why a company becomes a multinational, Ansoff separates the two categories
(Ansoff, 1984):
• Operational needs: providing materials, equipment, technology and release of surplus
production;
• Strategic needs: ensuring the inviolability of future changes in the external environment,
steady growth (maintaining historic patterns of growth, avoiding stagnation caused by
saturation, increasing the volume of business, increasing the rate of growth) and better
profitability. The development of international business activities coincided with widespread
phenomenon of globalization of markets (Cavusgil, Knight, & Riesenberger, 2008).
The globalization of markets refers to the growing economic integration and the growing
interdependence of countries worldwide.
Internationalization of the companies refers to the tendency of the companies to
systematically increase the international scope of their business activities, while globalization
refers to a makro trend intensive economic relations between the countries in the world.
Globalization encourages companies to internationalize and to substantially increase the
volume and types of cross-border transactions in goods, services and capital. Also, the
globalization leads to rapid dissemination and diffusion of products, technology and
knowledge in the world, regardless of the origin.
The process of globalization is a natural process that is a result of the growing and accelerated
process of generalizing of the character and process of production.
The development of science, engineering and technology and the expansion of markets for
goods, worldwide, lead to internationalization of economic and financial developments and
their global deployment. If globalization is understood as a process that leads to greater
economic integration of national economies, as a process of fragmentation of the world
economy and the international economy, than the globalization is a process of opening of
national economies through the removal of economic and financial boundaries of national
economies and thus their transformation into an international economic and financial market
(Jovanovski, 2007).
Globalization is a worldwide trend, through which economies in the world lose their borders
and connect to each other. The companies are no longer imprisoned in their borders and can
implement a wide range of business activities around the world. Many companies are present
in markets around the world, procured their raw produce or conduct research and
development worldwide. Trade barriers fall and global trade between countries in goods and
services is growing faster than domestic production. As a result of this, companies cannot
afford the luxury to assume that the success of the domestic market will lead to long term
profitability (Cullen & Parboteeah, 2010).
The flow of money across national borders is freer, and companies seek better financing rates
in the world and investors everywhere are looking for a more favorable return on investment.
Globalization, developed from economic aspect, has two main components: the globalization
of markets and globalization of production. The globalization of markets refers to the merging
of historically different and separate national markets into one big global market. In recent
years, constantly is discussed that the tastes and preferences of consumers in different
countries and nations begin to resemble on a global level and the way that they help in the
creating of a global market. The companies that offer standardized products worldwide, help
in the creation of a global market. The most common global markets are not the markets for
mass consumer products, because there are still differences between countries in terms of
tastes and preferences, which still have great meaning and a sort of brake on globalization, but
these are the markets for industrial goods and materials that have universal need the world.
The globalization of production refers to the tendency of the companies to find suppliers of
goods and services from locations around the world, in order to realize the advantage of
national differences in price and quality of the factors of production. Companies do this in
order to reduce overall costs and thereby to improve the quality or to improve the
functionality of their product offering to compete more effectively (Hill, 2008). In economics,
internationalization is seen as a process of increased involvement of enterprises in
international markets (Susman, 2007). The process of globalization, the fight for survival,
constant pressure and the need to preserve and strengthen the market position, force the
companies to be willing to constantly innovate and explore opportunities for achieving
competitive advantage and expanding business activities outside the domestic market.
Entrance of the companies in the global market becomes inevitable not only because of
limitation of the domestic market but also because of the globalization; the domestic market
share is under threat from foreign competition (Bartels, Buckley, & Mariano, 2009).
There are several specific factors that promote globalization and guide enterprises to strive for
business development and growth through the international and global operations and
include: political changes, development of technology, international business climate, market
development, expenses and competition (Ball, McCulloch, Geringer, Minor, & McNett, 2001).
2. Importance of Globalization

Globalization has become a major challenge to governments, institutions, and organizations,

offering opportunities for growth, expansion, and development.
• Political changes. The globalization trend of unifying and socializing the global community, as
well as, forming preferential trade agreements and groupings such as NAFTA and the
European Union, which united more nations in a single market, allow the companies
significant market opportunities. Two aspects of this trend, which contribute to the
globalization of business operations are: progressive reduction of barriers for trade and
foreign investment by most governments, which leads to intense opening new markets by
international companies, which also exported them and build production facilities in them,
and the privatization of most of the industry in the former communist countries, as well as
opening up their economies to global competition.
• Development of technology. The development of computing and communication
technologies has enabled increased flow of ideas and information across the borders of the
countries, providing introduction of the consumers with the goods worldwide. Internet and
networking have enabled smaller companies to compete globally, as a result of the rapid flow
of information, regardless of the physical location of the seller or buyer. Also, allows
international companies to hold corporate meetings among managers from headquarters and
branches, without wasting unnecessary time for travel.
• International business climate. The development of communication and information
technologies have contributed to the process of globalization, but also provided instruments
that facilitated the processes of globalization. Newly emerging markets also recognize the
economic benefits, technological development and growth opportunities that globalization
provides them.
• Development of markets. Information and communication technologies, the rapid
development of international tourism, widespread cultural exchange and improved the living
standards, in many developing countries have contributed to the emergence of a group of
consumers in different countries and regions of the world with similar educational profiles,
lifestyle, purchasing power and for good products, as well as, aspirations for high quality. This
scenario, in combination with the liberalization of international trade and the availability of
global distribution channels, opens great opportunities for companies that want to offer their
products to global markets. Large market potential exist outside of the domestic market, that
is why the companies go out on the foreign markets, generate sales and have opportunities for
profit that cannot be achieved at home.
• Expenses. The liberalization of trade and investment flows, which emerged in the 80s of the
last century, which inexorably moved forward, is a stimulus for globalization of the businesses.
Trade liberalization, global consumer habits, rising development costs and the need for
economies of scale, pressure from foreign competitors in the domestic market as well as the
development of information and communication technologies, are considered drivers of the
globalization. Because of the need to introduce new products and investment in research,
development and innovation, achieving economies of scale, reduce costs and access to
cheaper raw materials; companies are forced to plan activities, taking into consideration the
global market. Economies of scale and cost reduction are the main goal of management. That
is why companies decide to locate production in countries where the cost of developing and
producing are smaller.
• Competition. One of the reasons that the companies join global strategies is the need of
maintaining or gaining a competitive advantage in foreign markets and avoiding competition in
the domestic market. Competition in international markets is huge and growing, with more
multinational competitors who win markets worldwide.
The companies improve their competitive position by opposing competitors in international
markets or premature intrusion into the domestic market of the competitor in order to
destabilize or to suppress its development. As the globalization increases the speed and
prevalence, and for the companies more opportunities are opening easily, to perform on the
international markets.
The managers develop and adapt strategies for internationalization in order to transform their
organizations into globally competitive enterprises. Managers seek to coordinate the supply,
production, marketing and other activities based on international activities.
The organization of the company globally is a challenge and requires strategic positioning,
organizational skills, a high degree of coordination and integration, attention to the needs of
individual markets and the implementation of common processes. The strategy, in an
international context, is an organization plan for positive positioning, compared to the
competitors. This plan lead the company to selected customers, markets, products and
services in global markets, not just a particular international market. The strategy in an
international context should help managers to formulate a strong international vision,
allocation of scarce resources on the World, the participation of the major markets,
implementation of global partnerships, and involvement in competitive activities in response
to global rivals and establish activities that add additional value on a global level (Cavusgil,
Yeniyurt, & Townsend, 2004). When the companies compete outside of their country, they
face a number of challenges and pressures.
These pressures and challenges to maintain competitiveness, require from the companies cut
costs, in order the consumers do not evaluate their products or services as too expensive. This
leads to the need to locate production facilities in places where production costs are lower,
and the development of high standardized products in most countries. In the context of the
pressure to reduce costs, managers must strive to be ready to respond to local pressures to
adapt products to local market requirements, where the company is active.
This requires differentiation of their offer and strategies in different countries, in order to
preserve the tastes and preferences of consumers, but also the differentiation of distribution
channels, management of human resources, and government regulations. Because the
strategies and tactics for differentiation of products and services in local markets create
additional costs, they can also lead to increased costs for the company. These two pressures
that enterprises face, resulting in four basic strategies that the companies use to compete in
the global market. These strategies are: international, global, multi-domestic and transnational
strategy (Dess, Lumpkin, & Taylor, 2004).
The strategy that will be chosen by the company depends on the pressure faced by cost-
cutting and the importance of adapting to local markets. Conclusion Today, the word
international company is quite a common phenomenon, which reflects actual business
transactions and large expanses between a number of people from different cultures and with
different approaches. What unites them in the complex network of relationships is the need of
development, rapid exchange of resources and tools and integrated cooperation, which should
contribute to ensuring cooperation and ensure the transfer of capital. Can be concluded that
today's decisions for crossing domestic borders and internationalize the business is a
prerequisite for serious growth and development of a business entity. As such, he is always
searching and analysis of potential areas where the company from small or medium business
entity would become a corporate organization striving to constantly expanding and increasing
its own portfolio. To make a decision to invest outside of the own borders is a complex and
comprehensive process. This process is achieved through several stages and approaches that
contain a long term comprehensive analysis and scanning newly elected investment location.

Some key benefits of globalization include:

- Access to New Markets: Globalization enables businesses to reach new customers and
markets, increasing their revenue and growth potential.
- Increased Efficiency: Globalization allows businesses to take advantage of economies of
scale, reducing costs and improving productivity.
- Innovation and Competitiveness: Globalization fosters innovation and competitiveness,
driving businesses to improve their products, services, and processes.
3. Thesis Statement
This presentation explores the impact of globalization on business, highlighting its benefits,
challenges, and best practices. By examining the opportunities and challenges presented by
globalization, businesses can develop effective strategies to navigate this complex and
dynamic environment.

4. History of Globalization
Understanding the evolution of globalization and its drivers is essential to grasping its impact
on business. Some key milestones in the history of globalization include:
- Ancient Trade Routes: Early trade networks, such as the Silk Road, facilitated the
exchange of goods and ideas across regions.
- Industrialization and Colonialism: The Industrial Revolution and colonial expansion
accelerated global trade and investment.
- Post-WWII Globalization: The post-war era saw the emergence of international
institutions, trade agreements, and global markets.
- Technological Advancements: Recent advancements in technology, such as the internet
and social media, have further accelerated globalization.

5. Types of Globalization
Globalization encompasses various dimensions, including:

- Economic Globalization: The integration of economies through trade, investment, and

financial flows.
- Cultural Globalization: The exchange of cultural practices, values, and ideas across borders.
- Political Globalization: The increasing importance of international institutions and global
governance.
Each type of globalization has distinct implications for businesses, requiring them to adapt and
respond to changing market conditions, regulatory environments, and cultural norms.
6. Drivers of Globalization
Several factors have driven the process of globalization, including:
- Technological Advancements: Improvements in transportation, communication, and
 information technologies have reduced costs and increased connectivity.
- Trade Liberalization: The reduction of trade barriers and tariffs has facilitated the
exchange of goods and services across borders.
- Foreign Direct Investment: The flow of investment across borders has enabled
businesses to expand globally and access new markets.

7. Impact of Globalization on Business

Globalization has transformed the business landscape, presenting both opportunities and
challenges. Some key impacts of globalization on business include:

- Increased Competition: Globalization has increased competition, forcing businesses to

innovate and improve their products and services.
- New Market Opportunities: Globalization has created new market opportunities,
enabling businesses to expand their reach and customer base.
-Cultural and Regulatory Challenges: Globalization has also presented cultural and
regulatory challenges, requiring businesses to adapt to diverse environments.
By understanding the history, drivers, and impacts of globalization, businesses can develop
effective strategies to navigate this complex and dynamic environment.
 CHAPTER 2:
OPPORTUNITIES AND CHALLENGES OF GLOBALIZATION

1. OPPORTUNITIES
Globalization presents numerous opportunities for businesses to grow, expand, and improve
their competitiveness. Some key opportunities include:

- Access to New Markets: Globalization offers businesses the chance to expand into new
markets, increasing their customer base and revenue. This can be achieved through exports,
foreign direct investment, or partnerships with local businesses.
-Increased Competition: Globalization fosters competition, driving innovation and
improvement in products and services. Businesses must innovate and adapt to stay
competitive in a global market.
- Economies of Scale: Globalization enables businesses to benefit from economies of scale,
reducing costs and increasing efficiency. By producing on a larger scale, businesses can reduce
their costs per unit and improve their profitability.
- Access to New Resources: Globalization provides businesses with access to new resources,
including raw materials, labor, and technology. This can help businesses improve their
productivity and competitiveness.
- Diversification: Globalization enables businesses to diversify their revenue streams, reducing
their dependence on a single market or customer base.

2. CHALLENGES
While globalization presents numerous opportunities, it also poses significant challenges for
businesses. Some key challenges include:
- Cultural and Regulatory Differences: Businesses must navigate diverse cultural and regulatory
environments, adapting their strategies to suit local markets. This requires a deep
understanding of local customs, laws, and regulations.
- Increased Competition: Globalization also brings increased competition, threatening local
businesses and requiring them to innovate and adapt. Businesses must develop strategies to
differentiate themselves and stay competitive in a crowded market.
- Supply Chain Disruptions: Globalization increases the risk of supply chain disruptions,
requiring businesses to develop robust risk management strategies. This includes identifying
potential risks, developing contingency plans, and building resilience into their supply chains.
- Currency Fluctuations: Globalization exposes businesses to currency fluctuations, which can
impact their profitability and competitiveness.
- Intellectual Property Protection: Globalization also raises concerns about intellectual
property protection, requiring businesses to develop strategies to protect their intellectual
property rights.
3. MANAGING GLOBALIZATION CHALLENGES
To succeed in a globalized market, businesses must develop strategies to manage the
challenges associated with globalization. Some key strategies include:
- Market Research: Conducting thorough market research to understand local market
conditions, customer preferences, and regulatory requirements.
- Cultural Competence: Developing cultural competence to navigate diverse cultural
environments and build strong relationships with local partners and customers.
- Risk Management: Developing robust risk management strategies to mitigate the risks
associated with globalization, including supply chain disruptions and regulatory changes.
- Partnerships and Collaborations: Building partnerships and collaborations with local
businesses, suppliers, and customers to navigate complex regulatory environments and build
trust.
- Investing in Technology: Investing in technology to improve efficiency, reduce costs, and
enhance competitiveness.
4. BEST PRACTICES FOR GLOBALIZATION
Some best practices for globalization include:

- Develop a Global Strategy: Developing a global strategy that aligns with overall business
objectives, including market research, partnerships, and cultural competence.
- Invest in Talent Development: Investing in talent development to build a team with the skills
and expertise needed to navigate global markets.
- Build Strong Partnerships: Building strong partnerships with local businesses, suppliers, and
customers to navigate complex regulatory environments and build trust.
- Monitor and Adapt: Continuously monitoring global market trends and adapting strategies to
stay competitive.

By understanding the opportunities and challenges associated with globalization, businesses

can develop effective strategies to navigate this complex and dynamic environment.
 CHAPTER 3:

GLOBALIZATION STRATEGY AND BEST PRACTICES

1. Globalization Strategy
A well-defined globalization strategy is crucial for success in global markets. Key components
include:

- Market Research: Understanding local market conditions, customer preferences, and

regulatory requirements.
- Partnerships and Collaborations: Forming partnerships with local businesses to navigate
complex regulatory environments.
- Cultural Competence: Developing cultural competence to navigate diverse cultural
environments.
- Risk Management: Mitigating risks associated with globalization.

2. Market Research
Thorough market research is essential for understanding local market conditions and customer
preferences. This includes:

- Identifying New Opportunities: Identifying new market opportunities and potential customer
segments.
- Understanding Customer Preferences: Understanding customer preferences and behaviors in
different markets.
- Navigating Regulatory Environments: Ensuring compliance with local laws and regulations.

3. Partnerships and Collaborations

Partnerships with local businesses can provide:

- Local Knowledge: Access to local knowledge and expertise.

- Network and Connections: Access to local networks and connections.
- Risk Sharing: Shared risk and responsibility.

4. Best Practices
Best practices for globalization include:

- Conduct Thorough Market Research: Understanding local market conditions and customer
preferences.
- Develop a Globalization Strategy: Aligning globalization strategy with overall business
objectives.
- Foster Cultural Competence: Developing cultural competence to navigate diverse cultural
environments.
- Build Strong Partnerships: Building strong partnerships with local businesses and
stakeholders.
- Monitor and Adapt: Continuously monitoring global market trends and adapting strategies.
5. Implementation and Execution
Effective implementation and execution of globalization strategies require:
- Strong Leadership: Leadership that understands globalization and its implications.
- Cross-Cultural Teams: Teams that can navigate diverse cultural environments.
- Flexible Organizational Structure: An organizational structure that can adapt to changing
global market conditions.
6. Measuring Success
Measuring the success of globalization efforts requires:
- Key Performance Indicators (KPIs): Establishing KPIs to measure progress and success.
- Regular Monitoring: Regularly monitoring progress and adapting strategies.
- Continuous Improvement: Continuously improving globalization strategies and practices.
By following these guidelines, businesses can develop effective globalization strategies and
achieve success in global markets.
 CHAPTER 4:
CASE STUDIES AND FUTURE DIRECTIONS

1. Case Studies
Examining businesses that have successfully globalized can provide valuable insights into the
strategies and practices that contribute to success. Some notable examples include:

- Apple: Apple's global success can be attributed to its strong brand, innovative products, and
effective marketing strategies.
- Amazon: Amazon's global e-commerce platform has revolutionized the way people shop, and
its success can be attributed to its focus on customer satisfaction and logistics.
- Coca-Cola: Coca-Cola's global brand recognition and successful marketing campaigns have
made it one of the most recognizable brands worldwide.
- McDonald's: McDonald's has successfully adapted its menu and marketing strategies to suit
local tastes and preferences in different countries.

2. Challenges and Lessons Learned

Each of these businesses has faced significant challenges in their globalization efforts,
including:

- Cultural and Regulatory Differences: Adapting to diverse cultural and regulatory

environments.
- Competition: Competing with local businesses and other global players.
- Logistics and Supply Chain Management: Managing complex global supply chains.
- Brand Reputation: Maintaining a positive brand reputation in different markets.
The lessons learned from these experiences include:
- Importance of Market Research: Understanding local market conditions and customer
preferences.
- Adaptability: Adapting to changing market conditions and regulatory environments.
- Strategic Partnerships: Forming partnerships with local businesses and stakeholders.
- Cultural Competence: Developing cultural competence to navigate diverse cultural
environments.
3. Future Directions
Future research on the impact of globalization on business could explore:

- The Role of Technology: The impact of emerging technologies on globalization and business.
- Sustainability: The role of sustainability in globalization and business.
- Global Supply Chain Management: Strategies for managing complex global supply chains.
- Cross-Cultural Management: Best practices for managing cross-cultural teams and
partnerships.

4. Conclusion
In conclusion, globalization presents both opportunities and challenges for businesses. By
understanding the strategies and practices that contribute to success, businesses can develop
effective globalization strategies and achieve success in global markets.

5. Recommendations
Based on the importance of market research, globalization strategy, cultural competence, and
partnerships, businesses should:

- Invest in Market Research: Understanding local market conditions and customer preferences.
- Develop a Robust Globalization Strategy: Aligning globalization strategy with overall business
objectives.
- Foster Cultural Competence: Developing cultural competence to navigate diverse cultural
environments.
- Build Strong Partnerships: Building strong partnerships with local businesses and
stakeholders.

By following these recommendations, businesses can navigate the complexities of

globalization and achieve success in global markets.
 REFERENCE
1. Hill, C. W. L. (2019). International Business: Competing in the Global Marketplace. McGraw-
Hill Education.
2. Daniels, J. D., Radebaugh, L. H., & Sullivan, D. P. (2019). International Business:
Environments and Operations. Pearson Education.
3. Steger, M. B. (2017). Globalization: A Very Short Introduction. Oxford University Press.

Articles:
1. Levitt, T. (1983). The Globalization of Markets. Harvard Business Review, 61(3), 92-102.
2. Porter, M. E. (1990). The Competitive Advantage of Nations. Harvard Business Review,
68(2), 73-93.
3. Stiglitz, J. E. (2006). Making Globalization Work. W.W. Norton & Company.

Online Resources:
1. World Trade Organization (WTO). (n.d.). Retrieved from [(link unavailable)]((link
unavailable))
2. International Monetary Fund (IMF). (n.d.). Retrieved from [(link unavailable)]((link
unavailable))
3. United Nations Conference on Trade and Development (UNCTAD). (n.d.). Retrieved from
[(link unavailable)]((link unavailable))

Journals:
1. Journal of International Business Studies
2. Journal of Globalization
Additional Resources:
Ansoff, H. I. 1984. Implementing Strategic Management. Prentice-Hall International,
Englewood Cliffs, NJ. Ball, A. D., Wendell, H., McCulloch, Jr., Frantz, L. P., Geringer, J. M.,
Minor, S. M. 2001. International Business – The Challenge of Global Competition. International
Edition, McGraw-Hill. Bartels, L. F., Buckley P., Mariano G. 2009. Multinational Enterprises’
Foreign Direct Investment Location Decisions within The Global Factory. UNIDO, Vienna.
Cavusgil, T. S., Yeniyurt, S., Townsend, J. 2004. “The Framework of a Global Company: A
Conceptualization and Preliminary Validation”. Industrial Marketing Management, 33.
Cavusgil, T., Knight, G., Riesenberger, J. 2008. International Business: Strategy, Management
and the New Realities. Prentice Hall. Cullen, B. J., Parboteeah, K. P. 2010. International
Business, Strategy And The Multinational Company. Taylor & Francis. Daniels, D.J., Radebaugh,
H.L., Sullivan, P.D. 2007. International Business: environment and operations. Prentice Hall.
Dess, G., Lumpkin, G.T., Taylor, M. 2004. Strategic Management: Creating Competitive
Advantages. Hill, W. L. C. 2008. Global business today. McGraw-Hill Irwin. Joshi, M. R. 2009.
International Business. Oxford University Press. Jovanovski, T. 2007. Megjunarodni Finansii.
Skopje: Euro-Mak Kompanii. Susman, I. G. 2007. Small and Medium-sized Enterprises and the
Global Economy. Edward Elgar Publishing.