International business essay Example | Topics and Well Written Essays - 1000 words

International business - Essay Example These same forces influence the growth of globalization, which is the ongoing political, economic, and social process that deepens the interdependency amongst nations. In the world today, approximately 25 percent of the produce globally is sold outside the country from which they originated (Boyer, 2012). This is due to the continuous reduction in the restrictions that concern imports and exports. This has helped the expansion of multinational retail, as the retailers take advantage of these incentives to venture into foreign markets. In addition to the reduction in import restrictions, the regional trade agreements signed amongst various countries have enabled the retailers to reduce the costs of foreign licensing, as the globe is transforming towards the reliance in regional trade balances (Dicken, 2011). The easy movements of resources across borders are a factor that influences the retail activities all around the world. Contrary to the previous trends that made it difficult to move resources across the precincts, this current trend facilitates mechanisms that increase the access of retailer resources in the foreign market (Connell, 2005). Besides, the trade restrictions on foreign investment allow foreign retail investors to open multiple store branches across a foreign market. This is coupled with the increasing need of governments to fulfill the overgrowing customer tastes in trying foreign retail services and products. In a bid to diversify the consumer tastes, Marks and Spencer ventured into the Italian dressing industry, opening multiple stores that competed against the trademark Italian Giorgio Armani cloth line. This example has championed the growth of economic blocs, such as the COMESA, NATO, and European Union that have general agreements on the conditions of trade as we ll as suitable tariffs (Schmalz & Ebenau, 2012). The expansion of multinational retail services and activities is attributed to the expansion in