IMPACT OF GLOBALIZATION ON COMMERCE AND MANAGEMENT

Abstract

Globalization has profoundly influenced commerce and management practices, reshaping the global business landscape. This review paper aims to explore the multifaceted impact of globalization on commerce and management, examining how it has driven innovation, altered competitive dynamics, and transformed organizational strategies. The paper delves into the key areas affected by globalization, including market expansion, supply chain management, technological advancements, and cross-cultural management. By analyzing various case studies and theoretical frameworks, this study provides a comprehensive understanding of the opportunities and challenges globalization presents to contemporary businesses. The findings underscore the importance of adaptive strategies and cultural intelligence in navigating the complexities of the global market. This paper contributes to the existing literature by highlighting emerging trends and proposing strategic approaches for businesses to thrive in a globalized economy.