Cyber Times International Journal of Technology & Management

This research paper would illustrate the involvement of major drivers’ of globalization and its results in forming an international business environment. Globalization, a process of transformation of small regions to form bigger region helps in increasing global connectivity, trading of goods over national borders and across continents. In short it helps in forming a borderless world in goods, services, cultural and ideas. Some of the key drivers of globalization involves the changing economic paradigm where the growth and managing of economies forms economic liberalism. Spreading of international governance and regulation in doing international business where economic liberal ideas gets invited and cross border barriers gets eroded; leads to the development of globalization amongst GATT and WTO. Trade and investments increases globally results in parallel movement of finance and capital. Innovative technology plays a vital role in globalization, helps manufacturing system and transforming value-chains leading to low transaction and operational costs which invented ecommerce and the rise of de-territorialization. Global consumer emergence helps building common preferences across borders and creates opportunities of global products and gets a global market. This paper will delineate the scope of globalization, its intensity of effect in global market growth which creates unprecedented new opportunities for sustainable development. It will also depict how globalization forms the embeddedness and extensiveness of the integration that takes place within and outside the countries and to the firms worldwide.