Global Business Today by Charles W. L. Hill – Book Report/Review Example

The paper "Global Business Today by Charles W. L. Hill" is an exceptional example of a management book review.
Reading through chapter one of the book Global Business Today by Charles W. L. Hill was quite educative. It was a revelation especially as far as the issues to do with globalization are concerned with the world trade issues. First, I learnt that globalization is an aspect whereby there is a shift towards an integrated and interdependent world economy. Essentially, the concept of globalization in an economic sense tends to focus on two facets: markets and production. In markets globalization, there is an aspect of easing the trade barriers to facilitate free trade patterns. The tastes and preferences of the consumers converge. A good number of firms do promote the trend by making an offer of the similar products throughout the world. Production globalization concept entails sourcing the goods from various locations in the world, while at the same time taking advantage of the varying costs, of production factors.
The concept of global institutions that do manage, regulate, create policies and promote the multinationals treaties was also of vast importance. I learned about the various functions of these bodies, such as the General Agreement on Tariffs and Trade, the World Trade Organization, International Monetary Fund, and the World Bank (Hill, 2003). Their functions form a key drive to the promotion of economic globalization. It is worth mentioning the drivers of globalization, and how the author expounds the way, they do affect the globalization process. I achieved a greater understanding of the globalization concept when I read about these drivers.
The concepts of multinational enterprises and the relationship between globalization and other factors of production did sum up the chapter one reading. Primarily, I leant that the globalization debate is an ongoing discussion in which people are at the verge of bringing up a relationship between the loss of jobs, environmental degradation, and culture washout and labor policies (Hill, 2003). This was quite an interesting area, especially where economics draws an argument that the rift and margin between the poor and the rich are getting wider and wider due to globalization. Others draw their argument that globalization has come to aid such poor countries to grow. In essence, chapter one was quite an educative area where I learnt so much about globalization.