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IMPACT OF MANAGEMENT IN THE GLOBALIZATION
OF BUSINESS.
Prepare an essay on the topic of the impact of management in the globalization of business.
The world that we are living in is becoming smaller and smaller from day to day while it is the same in size. The access to vast volume of information that are available to us, the world communication, and transport make the world a very small village. Businesses are not producing for a particular country, but for the world. That is why managers, that are responsible of the companies, must always have the world customers in head in the process of producing. Although, the phenomenon of making the world village is referred to as globalization. What is globalization?
Globalization in short, points to the whole effort towards making the world global community as a one village. Knowing the definition of globalization, we can now precede our discussion on the impact of management in the globalization of business. Scholte in his article states “Because of globalization the economies of the world are being increasingly integrated, example mobile phones and internet have brought people closer. The world is becoming a smaller place. Work can be outsourced to any part of the world that has an internet connection” (Scholte J.A., 2000).
In order to better understand and talk about this subject, having a depth comprehension of the word management is critical. So, what is the meaning of the word management? According to what we have learned from this week reading, I can say that management is the process of getting the works done through the efforts of other people. But, if I have to provide my own definition, in this case, I would say that: it is the mean of communicating effectively with others and ...
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...of globalization in the workplace has yet to be realized, but as more companies embrace this trend and become more diverse, certain changes are emerging. (Kate McFarlin).
Managers all over the world have faced many issues related to the globalization problem. Among them, we can talk about communication problem, cultural problem, ethical issues, and so forth. So, as the world is become so small, it is critical for managers to be able to overcome those issues; otherwise they will be getting in trouble. For instance, I am pretty sure that they know how to acquire those skills in order for them to run businesses smoothly.
Works Cited
http://www.ukessays.co.uk/essays/management/effects-of-globalization-on-business-management.php#ixzz2ypzzLCqp http://en.wikipedia.org/wiki/Multinational_corporation http://smallbusiness.chron.com/effects-globalization-workplace-10738.html
In the beginning of globalization, organizations have started redefining their approaches of management. It is because of the fast, continual, and uninterrupted change being experienced by organizations in the contemporary period. Organizations have taken into account strategic approaches, which have not only developed their competencies but also prolonged the competitive survival of their businesses. Cross-cultural management is one of such approaches, which organizations, in the recent times have tried. Organizations have tried these approaches and have found proven results for their long-term business sustenance.
In recent decades, the process of globalization has accelerated and the world economy has become increasingly interdependent. The rise in the number of businesses that extensively operate in more than one foreign country, which is known as multinational corporations, plays an important role in the ongoing procedure of globalization. The United Nations has reported that multinational corporations hold one-third of world’s productive assets and control 70 percent of world trade (Schermerhorn et al., 2014). As there is a considerable growth in international businesses, worldwide economy is becoming more highly competitive. The global economy not only offers great opportunities for multinational enterprises but also on the other hand, creates many difficulties for them. Therefore, success in the large-scale economy requires a number of elements. One of the major determinants is dependent on global managers. In the operation of organizations, managers may encounter different international management challenges that restrict their business development. These challenges often include issues associated with the host countries, the global workforce diversity management, management across cultures, difficulties in competitive global business environment as well as in the process of global planning and controlling. This essay is going to discuss the above international management challenges in a broad sense and giving illustration in aspects of each challenge.
Nowadays, business is set in a global environment. Companies not only regard their locations or primary market bases, but also consider the rest of the world. In this context, more and more companies start to run multinational business in various parts of the world. In this essay, companies which run multinational business are to be characterized as multinational companies'. By following the globalization campaign, multinational companies' supply chains can be enriched, high costs work force can be transformed and potential markets can be expanded. Consequentially, competitive advantages of companies can be strengthened in a global market. Otherwise, some problems are met in the changed environments in foreign countries at the same time. The changed environments can be divided into four main aspects, namely, cultural environment, legal environment, economic environment and political system problems. All the changed environments make problems to multinational companies. In particular, problems which are caused by changed culture environment are the most serious aspect of running a multinational business. This essay will discuss these problems and give some suggestions to solve them.
Globalization remains a pivotal topic in many schools of thought, and continues being a topic of controversy even in local economies today. Perhaps the reason for this is integration and competitiveness the world over. Conceivably, even more than integration, is the competitiveness of organizations, has possibly facilitating the fascination and misconception about of globalization. Nevertheless, globalization has brought about a number of effects influencing the design and geographical location of the organization. However, globalization has effectively placed the world in a bubble, or maybe one could equate the changes to being placed in an envelope.
To be successful in today’s global market, managers and leaders need to understand more than just technical skills. Managers and leaders should also understand globalization and organizational behavior. Globalization is the tendency of businesses, technologies, or philosophies to spread throughout the world, or the process of making this happen. The global economy is sometimes referred to as a globality, characterized as a totally interconnected marketplace, unhampered by time zones or national boundaries (Search CIO). Organizational behavior is a field of study that studies individuals groups, and structure. Organizational behavior applies the knowledge gained about individuals, groups, and the effect of structure on behavior in order to make organizations work more effectively (Robbins,2014).Gaining an understanding of globalization and its effect on organizational behavior is crucial to interacting effectively in the modern global economy. Globalization affects an organization’s behavior in several ways like stimulating hyper competitive pricing for a product or service, perpetuating continuous operations and communicating around the clock and globe, capitalism is replacing governmental control and organizations are no longer constrained by borders, and corporations are becoming more heterogeneous and adapting to people who are from different nationalities and cultures. To be successful in a global economy, professionals should have a thorough knowledge of sociology, psychology, communication, and management.
The study of international business is fine if you are going to work in a large multinational enterprise, but it h...
In today’s continuously changing world, many experts say that globalization is what every business, organization, and nation should seek and welcome as a positive change. However, many people are unaware of the main focus and meaning of Globalization, especially in comparison to Localization. A large number of people believe that globalization is just another common word used to refer to changes and differences that cannot be explained or accounted for. Therefore, many different activities or changes are improperly labeled to be a part of or caused by globalization.
As a conclusion international business best described as a Globalization. A globalizing business sector advertises viability through rivalry and the division of the work it permits individuals and economies to keep tabs on what they specialize in. It also allows people to go globally. Globalization has stretched the assets, items, administrations and markets accessible to individuals. The increasing set of reliant connections around individuals from distinctive parts of a world that happens to be separated into countries
Globalization is the connection of different parts of the world. Globalization results in the expansion of international, cultural, economic, and political activities. As people, ideas, knowledge, and goods move easily around the globe, the experiences of people around the world become more similar. (“Definition of Globalization“, n.d., ¶ 1)
Globalization is the increasing interconnectedness of people, places, and cultures throughout the world today. The effects of this homogenizing process that we call globalization can be seen in all aspects of life. From McDonalds being in almost every country, to the majority of North American clothes being made in periphery countries, to the technological ability that allows us to instantly communicate with people anywhere in the world, the effects are everywhere. Economically today, globalization has had both positive and negative effects around the world, with many similarities to colonization. Globalization has also led to increased poverty amongst the global periphery, and a specific group of winners and losers within this process of globalization.
Globalisation is a very complex term with various definitions, in business terms, “globalization describes the increasingly global nature of markets, the tendency for transnational businesses to configure their business activities on a worldwide basis, and to co-ordinate and integrate their strategies and operations across national boundaries” (Stonehouse, Campbell, Hamill and Purdie, 2004, p. 5).
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
The purpose of this essay is to highlight the importance of managerial skills. A management process is a line of activities and procedures such as planning, deciding and evaluating. We would be using an article titled What Great Managers by Marcus Buckingham as a base of discussion working on points that was overlooked and missed out though the report.
Globalization is a very complex phenomenon, basically it means the relationship and connection between countries are getting closer, and they have more contact, politically and economically. Globalization has influenced the world in many different ways, like culture, economy and politics.
A question raised here that why we called the world as a Global Village or what does Globalization mean in real? If we look few years back, I was very difficult for people to get them connected or make contact with their dear ones who lived in far areas, people just knew about the famous food of any country but didn’t have availability to have it. People didn’t get full information of any news at the time, what’s going on other countries; they didn’t have any access to make them updated with all this stuff. But now a day, the scenario gets change with the help of new scientific inventions in media sector. Communication is one of the basic elements which play an important role in flourishing the process of globalization in all over the world. Technology is the basic extension of increasing communication at same time in different places. Technology eliminates the concepts of space and distance; it becomes easy for anyone to get connected with anyone at any corner of world through using internet, social websites and technological tools. New inventions in communication and media