Annals of the University of Craiova: Economic Sciences Series (Dec 2022)
GLOBALIZATION OF BUSINESS AND INTERNATIONALIZATION OF COMPANIES AND THEIR IMPACT ON COMPANY MANAGEMENT
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.
