The institution-based view of global business focuses on internal factors that can help a firm overcome its external environment.
What is Global Business?
- While a worldwide business is a corporation operating globally, a global business refers to Global Business.
- The history of Global Business across huge distances is quite old. Long-distance trade was already taking place in Europe during the Stone Age, according to anthropologists.
- Global Business over the sea was customary in many parts of the world before Greek civilization.
- Although obviously not "global" by definition, such trade nonetheless exhibited the same traits.
- All of the continents began to be regularly connected by ocean-based communications in the 16th century.
- At the beginning of the 17th century, Global Business in the modern sense quickly followed; it might be more appropriate to say that it "returned," as such trading had existed in Roman times.
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