What is Politico-Economic Blocks

As globalization continues to be a reality around the world, the rules and context of business activity have been affected. Globalization increases the complexity of businesses and drives managers to be globally oriented. With globalization, people from various cultural backgrounds get together virtually and interact. National boundaries of countries are becoming less relevant. More significantly, the impact of technology and particularly information and communication technology (ITC), is the other characteristic aspect of the 21st century. ITC is essential in today's business and modern globalization as business partners are constantly in communication around the globe. This chapter discusses the effect of globalization and the global business environment as it is shaped by various economic and politic-economic blocks around the world.