The Global Frame Of The International Business System

Frames, in short, are used to help people interpret the world around them as well as a way to represent that world to others. They can be thought of as cognitive shortcuts that one may use to make better sense of complex information. When it comes to the Global frame, it is by no means a new concept. The idea of globalization has been around for a long time, but today, has gotten a new meaning. With the advent of the internet and other information systems, societies have never been so close and connected with each other. The first significant characteristic of the Global frame is that of the International business system. This includes competition, commodities, knowledge, financial, trade, and a transitional economy. The international business system basically means that the world of business is all integrated with one another, connected mainly by the Internet. This system allows anyone to utilize more markets as well as allowing companies to operate both efficiently and econ omically. All of this ties in with the next significant characteristic, which is Integration Technologies of markets and nation states. Because more and more international business are integrated with each other every year, the deregulation of certain governmental policies is occurring and this has also resulted in privatizing many sectors. The next significant characteristic to be described is the World Wide Web Digitization of Communication networks, Interconnectivity, and Cyberculture.Show MoreRelatedFinancial Globalization And The Financial Crisis1274 Words   |  6 Pagescurrency worldwide currency that can be regulated and managed by a single global monetary institution. The first era of unrestricted financial globalization took place in late 1860s. During this time, it is argued that London played the role of the heartbeat of all of financial undertaking. 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