The world has changed significantly in terms of how the different markets in the world operate and how the businesses are initiated, and managed. The dramatic change in the resources and technology available to manage and sustain a business in terms of the internet and other communicative technology has enabled a mass shift of perspective for businesses. Initially only the multinationals and established large manufacturers and traders were able to go global and provide their goods and services to the international market. However now with the feasibility of establishing a business which much less infrastructure through the internet, even small and medium scaled businesses have been able to expand into the international market. This has changed the characteristic of the businesses that are present in the international market.
Keeping up with the business and market trends, event the literature has been changing depicting the shift of the businesses worldwide to have a wider and global perspective in regards to their operations and their target markets. “The literature on political risks (and opportunities) in international business has expanded far beyond its initial preoccupation with expropriation and instability in “third world,” developing countries. The literature has thus become more concerned with other types of government policies and with political conditions in “first world” and “second world” countries as well. In those respects, the literature has developed analytically and become of more widespread relevance to managerial issues in international business.” (Brewer, 1993)
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