The recent changes and developments taking place in information technology and international business over the past decade have dramatically accelerated the pace of globalization. The world is becoming more homogeneous. Distinctions between national markets are fading and some products will disappear altogether. Participation in global business has begun to shift from a mere ‘option’ to an imperative. A change in business orientation is, therefore, urgently needed on the part of businesses in order to remain competitive in global markets.