The Impact of globalisation on international business strategy and operation: A cross sectional study of expert’s Opinion

Abstract

Globalization has significantly altered the international business terrain, which has impacted the strategies and operations of companies across the globe. The amplification of global interconnectedness and the dismantling of trade impediments have enabled businesses to proliferate their markets beyond their borders, thereby creating novel prospects for growth and profitability. Notwithstanding, globalization has also posed manifold challenges, such as augmented competition, cultural variances, and geopolitical hazards. To flourish in this milieu, enterprises must adapt their strategies and operations to efficiently navigate these challenges. This encompasses the development of an intricate understanding of local markets, the establishment of robust relationships with stakeholders, and substantial investments in technology and innovation. Furthermore, businesses must remain poised to embrace a flexible approach and acclimate to fluctuations in the global business landscape. In summation, globalization has both auspicious and adverse implications on international business, and companies must adopt a tactical and adaptive approach to prosper in this dynamic landscape