In the business world today, borders are blending and multi-national mergers are causing many company nationalities to become indistinct. As the globalization of markets rapidly increases, many companies are finding international expansion a necessity of competition. North America is greatly affected by this movement towards a global market, and many companies are finding it extremely important to adapt to other cultures.
Favorable trade agreements and explosive growth of the middle class in countries once considered underdeveloped have both been important factors in the rush towards globalization. However, the most important factor in increased globalization has been technological advancements, including new transportation and information technologies. Presentation of information is more frequently processed by members of a virtual team - a work group not necessarily in the same geographical location. With the proliferation of e-mail, videoconferencing, fax machine, and the telephone, virtual teaming is becoming increasingly efficient.
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