In our world today, the availability of the internet has made it possible to reach out to just about all corners of the world. Businesses have seen the benefit of reaching out to other countries with their products and services. Places other than the United States can offer a wealth of knowledge and ideas a company can benefit from tremendously. Markets and corporations around the world have integrated together through internationalization (Wheelen and Hunger, 2012). This is called Globalization. Companies and market seek to outsource their products for many reasons. It could be for cheaper labor costs, less restrictive environmental controls, their target market audience is located there, and countless other reasons.
Globalization has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world (What is globalization, n.d.). This concept is not new though it has been around for thousands of years and was used with the Silk Road that linked Europe and Asia for trading in the Middle Ages (What is globalization, n.d.).
The internet makes it possible for just about any company to reach out to the world. Take for instance Amazon, they have adapted and globalization and their whole mission is providing the world a place to shop online and have all your needs and more at the tip of your fingertip. Another example of globalization is the outsourcing technology and software development to areas like China and India (Wheelen and Hunger, 2012). These countries offer and incredibly wide knowledge base and are well talented in the field.