Globalization can be defined as an intensification of cross-border relations and the association between countries has brought significant transformation in the international structure. This characterization of the term globalization enables us to grasp the adjustment of relationships between each respective country from a side by side presence towards their incorporation in an international system that make them more reliant on each other than previously and where occasions occurring outside their region are significantly more prone to affect them than they would have had an about century ago.Globalization is the key factor for international business.
This new era of globalization brings with it opportunities and also new considerations and challenges with the dynamics of a free market. Globalization grant access to benefit from the international division of labor, technologies, international specialization, inter-cultural exchange and the consumers enjoy a wider variety of products at lower prices. With globalization, there comes a higher level of thinking and strategizing. Business evolves in new ways.