What is Business Organization?
Globalization is related with the integration of economies of the world through uninhibited trade and financial flow. It also contributes to mutual exchange of knowledge and technology (Goyal 2006). Globalization has greatly impacted on the structure of organizations. Globalization has introduced the concept of strategic alliance, outsourcing, virtual organization and multinational organization in the business. All these organizational forms are effective for the businesses in terms of increasing market share, sustaining competitive advantage, strengthening core competencies and building international market image. This paper will discuss about all these organizational forms in terms of what they are and how they are beneficial for the business. This paper will also discuss about the relationship and differences among the concept of virtual organization, outsourcing, multinational organizations and strategic alliances.