Dynamic Globalization in International Business

Abstract

As globalization has been accelerating in recent years, there have been debates on whether business people must follow global standards or not. This paper discusses some related models and proposes a new perspective on global standards. Unlike other studies, this paper views global standards in a dynamic rather than static way. One important implication of this study is that global firms add values to the product and thereby global consumers rather than just to exploit global market. This paper also suggests that global managers should be careful not to overemphasize the local characteristics of product if they want to make the product truly competitive in the global market.