To what extent does an understanding of the history and development of Essay

To what extent does an understanding of the history and development of business and the nature globalization help in our underst - Essay Example Notably, the founding of the history of business can be accredited to Wallace Don ham (Eibe, 2012). Business education originated since the Second World War and it can be accredited to the United States. Many of the business schools in the United States enrolled business history in their academic programs. Europe has been accredited for producing the first work on the company history. Additionally, in India, business education can be referred back in the 1960s where the Indian institute of management was among the first to implement business history in their curriculum. This study discusses the contributions of business history and emergence of globalization on the way of performing business in the current society. With that in mind, the implication of the understanding of business and globalization will be enlisted. ... In the same regard, understanding of business history helps managers to regain managerial and managerial techniques. As noted, the history of business has been in the limelight for quite a long time, however it is only until recently (late 1990s) that more effective work towards the value of business history was recognized. More importantly, an understanding of the business history helps in the development of the business and the economy especially in formulation of  strategies in the current rapid changing business environment. In 1996, a survey carried out by the management history division of the management Academy established, adoption of business history courses yielded a variety of benefits. Their research, formed as a basis for continued research in the contributions made by business history in today’s business. Indeed, the historical component of business on the following key points. History is an important aspect for understanding of the nature of human and his/her past endeavors, thus giving light on the present as well as future activities in a number of ways. A historical study expounds on the understanding of humanity and key lessons for human ambitions, aspirations as well as organizations. Additionally, history enhances communication skills and the ability to evaluate healthy skepticism and evidences to some opinions and propaganda (Know ells, 2008). It offers business studnts with an exerpt of development of a country economy and international economy, providing insights into the structure of industries as well as, evolution of business strategies (Gibson et al, 1999). Business history broadens business education through the focus on technology, business ethics, the corporate culture as well as government