GLOBALIZATION OF BUSINESS AND INTERNATIONALIZATION OF COMPANIES AND THEIR IMPACT ON COMPANY MANAGEMENT

Răducu Ștefan Bratu
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Răducu Ștefan Bratu: University of Craiova, Faculty of Economics and Business Administration, Craiova, Romania

Annals of University of Craiova - Economic Sciences Series, 2022, vol. 2, issue 50, 39-47

Abstract: Over the past few years, globalization has become increasingly popular. In addition to having a theoretical significance, it is also a political and ideological slogan that mobilizes supporters and opponents for certain actions, not just in the sphere of politics, economics, or sociology. A key characteristic of the late 20th and early 21st century world economy is globalization. Despite having been slowed down or blocked in various ways, it has also been strengthened by global institutions that regulate economic activity in various ways. This activity gradually takes on the characteristics of a global strategy, first through regionalization, then more broadly. Several economic factors had an impact on the process of adaptation, including a change in the structure of the world market, the division of labor, and a change in the way “center” and “periphery” were defined. These factors gave birth to a global process that encompassed most countries, giving it a global character.

Keywords: Globalization; business; internationalizations; company management; world economy (search for similar items in EconPapers)
JEL-codes: F15 F23 F63 M21 O19 (search for similar items in EconPapers)
Date: 2022
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