ABSTRACT
The internationalization process started at the business level as transactions taking place between developed Western countries have largely similar levels of environmental characteristics and economic development. Alternatively, the conditions of internationalizing were dominated by Western countries, politically and economically supreme, that allowed them to inflict ways of conducting international operations on less developed nations. Currently, the conditions under which international business is conducted are far more complicated. The internationalization process encompasses countries on different level of their economic development, with various political structures, and other environmental characteristics. The democratization of societies and liberalization of business activities create conditions for convergence in circumstances under which international business operations take place. The likelihood that an economically strong country can readily inflict its ways of conducting international business is continuously diminishing. This means that the economic interdependence of businesses, countries, and regions has been constantly reducing the relative power of more developed businesses and countries.
