Mahnaz Afkhami once said “We have the ability to achieve, if we master the necessary goodwill, a common global society blessed with a shared culture of peace that is nourished by the ethnic, national and local diversities that enrich our lives.” The word ‘Internationalization’ not only confines with the idea of connecting people globally but also signifies bringing forward their varied experiences, ideologies, cultures and traditions and therefore, opening ourselves to them.
Internationalization and innovation have now become the key to the future. These elements reinforce each other to the level that today’s economic analysis have to take these two things under consideration in order to analyze the success of the firms working in the international market. But, the intriguing question is whether internationalization and innovation are interdependent or not? Well, with the new technological innovations, the world is getting smaller and even more accessible with every passing second, and it is very much evident that a strong appropriability regime i.e. amalgamation of means to protect knowledge and the return on investment made on innovation leads to technological advancements and thus, internationalization.
Michael Spence has rightly said that “Globalization is the process by which markets integrate worldwide.” World economies have been brought closer by internationalization and thus, making markets more available and accessible for businesses and entrepreneurs. Businesses have acknowledged to each wave of internationalization by harnessing the technological innovations and advancements introduced to elaborate their strategies and increase growth. The next era of going global will bring new and advanced technological innovations which will include artificial intelligence (AI), will present with its own new stumbling rocks and edifying us to evolve and adapt in this dynamic world.
Internationalization is a fact of economic life and an exceptional opportunity and it is and will always remain an integral part in the world’s growth. It has always been known to promote strategic and critical thinking leading to innovations and modernization by encouraging alliance across borders. That’s why the best business schools bring with them the flavour of internationalization. Symbiosis NOIDA provides global exposure to the BBA students through semester exchange programs, summer schools and Global immersion.
Personally, being a student of Symbiosis NOIDA, I feel that the main aim of “Internationalization” has always been to make a meaningful contribution to the society and being able to work in unison with the global village. Moreover, amidst living in such fast-paced life, we must take a pause, appreciate and further evaluate and sustain the various resources surrounding us in the best possible way leaving no stone unturned in expanding our knowledge for the new global world.