On a large time scale, the world has been on a gradual, but accelerating, track of globalization for the last thousand years. Advancements in transportation technology enabled intercontinental trade, and this led to the exchange of goods, ideas and cultural influences over large portions of the planet. By the 17th century, explorers and merchants were capable of circumnavigating the globe; this was the first time the world became a single, contained system of politics and economics. In more recent times, the advancement of technology has accelerated the trend of globalization. For instance, telecommunications technology allows for instantaneous exchange of information around the world in the form of telephone calls, emails and video conferences. Digital technology allows for distribution of information content around the world, so European music or American films can reach remote villages in Asia and Africa within minutes. This advancing technology allows for commercial opportunities on broader market scales as well as exchanges of cultural elements to an unprecedented degree.

1. Institute For Prospective Technological Studies

2.4 Industry Globalization Drivers. Yip identifies four sets of “industry globalization drivers” that underlie conditions in. The globalization process may be. Identify the types of companies that participate in international business. Describe the global business environment and identify its four main elements. Globalization is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

Institute For Prospective Technological Studies

As a result, children growing up anywhere in the world can experience the same culture and pursue the same economic opportunities as they mature. Political forces around the world are also serving to open up trade between nations and facilitate cooperative development of commercial opportunities.