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Assignment 3 Globalization

Directions:

Think about what you have read and seen in the news on globalization. Consider the fact that the clothing we wear, the cars that we drive, the cell phones we use to communicate and the computers we use to work, are each likely to have been manufactured in whole or in part in different parts of the world. While there are still companies and firms that maintain local and national borders, it is almost unheard of in the 21st century that an industry does not maintain an international strategic position.

From an executive’s position, identify and explain at least three challenges and opportunities that might face an international executive over the next five years. Provide possible solutions of how the executive might address these issues in order for their firm to maintain a competitive advantage.

Prepare a 3-4 page paper that describes the impact of globalization on U.S. businesses. In your analysis, please include information about the impact of at least four economic drivers that might impact globalization.

Assignment 3 Globalization

Globalization refers to cross-border integration and interaction of people, organizations, and governments.  As such, globalization is not only limited to the economic aspects but it also extends to incorporate other factors such as religious views, education, cultural and political views (Gleeson, 2018). Effective globalization is attained through healthy economic drivers and has both positive and negative impacts; therefore, it should be handled with care to ensure the country’s economy is sustainable. This paper discusses the impact of globalization in the U.S and provides an analysis of the economic drivers affecting it.  

Impact of Globalization on U.S. Businesses

The U.S has been at the center of the world globalization due to the petrol dollar also known as the U.S dollar, which have been used as a reserve currency for the last seven decades.  This has been of significant importance in the global financial markets in relations to other foreign economies (Crane & Matten, 2016). Foreign countries are therefore required to transact their businesses using the U.S dollar. As a world currency, the U.S dollar has brought about negotiation power to the U.S businesses, which has seen a rise of the multinational corporations and increased market for local businesses (Crane & Matten, 2016). Moreover, the country has been able to establish relationships, negotiations and trade based on the U.S dollar by either through force, threat or collaboration.   Another impact is incre