The Business Environment as a Global Village

Abstract

Globalisation is thought of as the fast-growing move towards a world in which national economies are merging into an interdependent global economic system. A more business view of globalisation conceives it as a process by which industries transform themselves from multi-national to global competitive structures. ICT, transportation technologies and global institutions have played a determinant role in the phenomenon of globalisation. Various levels of integration have been established. Globalisation of companies has been identified as the micro level, whereas the interconnectedness of economies is termed as the macro level of globalisation. The merging of businesses is referred to as the meso level. Thus, all these levels must be differentiated when dealing with its issues and should be understood as different interrelated stages. If at the heart of globalisation is the interdependence and integration of the national economies into global economy, does it also mean that cultural differences for instance have been subsumed or sublated?