What was pre-dominantly doing business within the country with local manufacturing for local consumption is now increasingly becoming local for global. Markets in the past were pre-dominantly in the Americas and Europe. In the last 5 years we see there is a clear emergence of the markets in Asia. The American and European companies are looking to these emerging markets to sell their goods, leverage manufacturing capability and design skills available in Asia to boost their economies. While there are clearly big advantages to tap into the Asian markets there are challenges that needs to be handled due to this phenomena of shifting markets which in turn is fueling globalization.
Capability of managing business owing to globalization, international and transnational activity needs immediate attention. Managing global business would need good understanding of- Economic, Political, Cultural, Religious, Social, Demographic, Environmental, Defense, etc in the countries where the business is done.
