Communication Technology's Development and its effect on Management Practice

... INTRODUCTION Nowadays, more and more companies chose to go globally as the growth in communication technology and transport. It is easier for companies to expand the business activities across countries. When a company expands a large potion of its business outside its own country, it becomes a global business. Globalisation is not a single process, but can be described as a number of processes by which products, people, companies, money and information are able to move effectively and quickly around the world. It has two main components: the globalisation of markets and the globalisation of production. Globalisation of markets is referred to the merging of historically distinct and separate national markets in one huge global marketplace. The globalisation of production is referred to the tendency among firms to source goods and services from different locations around the globe in order to take advantage of national differences in the cost and

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