To what extent does an understanding of the history and evolution of Assignment

To what extent does an understanding of the history and evolution of business and globalization help in our understanding of business today; and what value could this have for your career - Assignment Example world reach unprecedented levels of globalisation; this has been as a result of liberalising economic trade, which has seen human capital flow from regions where it is surplus to the regions where there is shortage (Gerdes, 2006, p87). Businesses have also capitalised on the opportunities brought about by globalisation and expanded their market in different regions in the world, which has necessitated them to send expatriates in those regions. Initially, when protectionism and imperialism were the order of doing business in the world, movement of people from one country to another was restricted and countries attempted to be self sufficient; both in terms of technology, human capital and goods (Boudreaux, 2008, p107). However, when countries realised that opening up their boarders to trade provided more opportunities for them, the process of globalization began. One of the greatest effects of globalization was movement of human capital from areas where there it was in surplus to wher e it was needed. This movement of people created several challenges due to different cultures and competitions. In order to overcome this barrier, there was need for businesses to develop intercultural competencies in order to deal with people from different cultures (James, 2007, p90). The desire to develop people with such skills has made organizations to train their employees, a practise that has been developing with time and which s currently very popular with a large number of international NGO’s and multinational corporations. Opening up of trade between countries which saw a shift in trade policies from protectionism to open economic systems is also part of history that can be used to understand why countries trade the way they do, for instance, countries are interested in making bilateral and multilateral trade agreements. In understanding the inspiration between these agreements, it is important to define open and closed economic systems as countries are moving from