The Impact of Globalization on Business Strategies: A Systematic Review

Pragya Gangele; Aarush Kumar

doi:10.69968/ijisem.2025v4i164-71

Authors

Pragya Gangele Principal, The Rising International School Bangalore Karnataka India
Aarush Kumar Student of Grade 11 IBDP, Greenwood High International School Bangalore Karnataka India

DOI:

https://doi.org/10.69968/ijisem.2025v4i164-71

Keywords:

Globalization, Business strategies, Small and medium enterprises (SMEs), Economic growth, Multinational corporations (MNCs), etc

Abstract

This research examines the transformative impact of globalization on business strategies, emphasizing the role of technological advancements in dismantling barriers and driving competition. Globalization has reshaped economies and societies through a network of trade, investment, and cultural exchange, yielding both benefits and challenges. Positive outcomes include expanded markets, economic growth, and poverty reduction in countries, while adverse effects include income inequality, environmental degradation, and cultural homogenization. The study underscores the importance of innovation, localization, and sustainability as key success factors in navigating globalization. Multinational corporations employ innovative strategies, adopt market-specific business models, and integrate sustainability to remain competitive. Case studies highlight the need for strategic adaptability and balancing global integration with local responsiveness. Capital, government expenditure, and labor emerge as critical drivers of economic growth, with globalization linked to economic progress. The research emphasizes supporting small and medium enterprises (SMEs) to overcome globalization challenges and thrive globally.

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