Difference between internationalization and globalization Essay Example For Students

Difference between internationalization and globalization Essay What is the difference between the stages of internationalisation and of globalisation? Internationalization and Globalization are two footings that are frequently assimilated and sometimes used as equivalent word. This is a error because these footings have many differences. get downing with the clip they began to happen. Internationalization started as portion if the Industrial Revolution between 1870 and 1914. whereas globalisation is a station 1960’s phenomenon. Other differences between these two footings include their impact on houses. on planetary trade. and on society and civilization. First of all. while globalisation is frequently used to depict the alteration in the universe economic system to a more broad and mutualist system. internationalisation refers more narrowly to the activity of houses on an international graduated table and the resulting impact of their determinations. Internationalization is. for illustration. a European house seeking to export its merchandise overseas. and the causes and the effects of this act. A house seeking to standardise its merchandises on an international graduated table is besides considered as internationalisation. Second. many recent progresss in technological Fieldss such as communicating and transit have helped globalisation addition worldwide trade and investing. The beginning of this ‘free-trade’ epoch started when the Soviet Union was defeated by the United States. and the terminal of the Cold War. This helped many organisations such as the WTO ( World Trade Organization ) or the IMF ( International Monetary Fund ) support free markets. doing the economic system less province dependant. These organisations have helped to make a more globalized economic system by the creative activities of TNCs ( Transnational Corporations ) . This resulted in the rapid and successful industrialisation of some states ( NICs ) and on a different manner of spliting production worldwide ( NIDL ) . On another manus. internationalisation did non truly globalise the economic system but instead promoted the activity of a state and its companies internationally. A typical illustration would be subscribing a trade or investing contract with another state ( or states ) to put in good economic dealingss between them.