Today's new ventures take place in a business environment defined by rapid change in the world's social, economic, and governmental behavior. Globalization can be defined as the process and results of these changes. The world is transforming from one in which business was created and conducted primarily within political and geographic borders to one in which distance serves as neither a significant obstacle nor a significant advantage. This transformation has major implications in the selection, planning, and execution of new ventures and in the planning and management of careers.

Definitions and Trends

Globalization results from, and continues to build, a worldwide consensus around shared values, in spite of loud protests to the contrary. Roland Robertson, in a 1992 article, explained that globalization “refers both to the ...

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