International Business Essay Example | Topics and Well Written Essays - 2500 words - 12

International Business - Essay Example Additionally, this part will attempt to explain why comprehending the local religious practices and beliefs are significant to the success of a business. Dreher (46) defined globalization as both a process and worldwide condition in which the globe is becoming more interconnected while communication has become instantaneous as each day passes. Technology is the key driver to globalization. On the other hand, cultural individuality is the opposite of collectivism. Therefore, in an individualistic culture, concepts and views are based on the self and thus they are independent instead of relying on the group. As a result, they often value their personal goals more than the group’s goals. In most instances, cultural individualistic societies are made up of a diverse population exhibiting low communication and low power distance characteristics. Countries such as Canada, Australia ,and New Zealand are said to possess a highly individualistic culture. People in countries such as Singapore used to eat fried rice at the time McDonalds was opening in America. That is in 1955. During this period, most people had not heard of the term cheeseburger. Little people from Singapore expected that McDonald would soon be a big hit there within a very short time. Currently, McDonald is an enterprise operating in many countries worldwide. A recent survey conducted in about six countries revealed that many more people are familiar with the McDonald symbol than they are with the Christian cross. This example signifies the importance of globalization in enhancing or promoting cultural sameness. Thus, through globalization, multinational corporations and companies have promoted and designed a specific type of consumerist culture where standard commodities which are often promoted by worldwide marketing campaigns create same lifestyles globally. Through globalization, multinational corporations influence the values of its employees and customers.