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Introduction to globalisation
Theory of globalisation
Globalisation in today's society
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Nowadays world lives in a time of permanent changes. Things that were innovative yesterday – today becomes outdated. Time flies and technological progress lead world to new milestone of development. It is obvious that this process has an impact not only on the some technological issues but also humanity at all. Progress is necessary for this stage of development and one of the major points in this process is globalization. Globalization is considered as a process of global integration of the country; to vanish the economical and political borders between countries. Of course, globalization has an impact on all spheres of human entity. However, it has more dramatic influence on the business area, in particular on human resource management. In the past, recruitment officers had a strict geographical frame for hiring new staff. In consequence of this, people stay in their workplace much more longer period of time than nowadays. Their skills were demanded for a long period of time. In our time, market demand new products and services in a dramatically shorter time than in the past. Product changes and employes should keep in-touch with new product, be more flexible, be innovative and proactive to keep their place in the labor market. Current employe should have great compatibility to save his position in front of other people, who pretend on his place because specialist that has been educated two years before has not got some knowledge that get current alumni. Anyway, globalization influenced workplace and labor market and it is not certain – is it good or not for employes themselves.
What globalization means for the whole business at all? Companies that pretend to compete on the global area faced with the problem of new demand not on...
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...e loyal to the company and have less wish to change or quit their jobs or be redundant (R. Blundel, L. Dearden, C. Meghir and B. Sianesi, 1999).
On the onther hand, from the point of view f the company, it considers that the fast and effective introducing of new technologies requires support of highly-qualified technical specialists. The existing skills of company’s workers show not only the type, variety and quality of the product itself but also task flexibility and speed of production(R. Blundel, L. Dearden, C. Meghir and B. Sianesi, 1999). If the level of manpower skill is low, it is found to negatively affect firm productivity, the types of machinery, the ways of usage of machinery, and introduction of new technology. There are strong links between human capital of workers and its innovative capacity (R. Blundel, L. Dearden, C. Meghir and B. Sianesi, 1999).
...a single employer typically got 8% increases in compensation a year compared with about 5% for people with a history of job hopping” (Wang) showing how by staying loyal to one job allows for a better income than those who keep changing jobs. Therefore, people who are more loyal to their company tend to make a better salary increase than those who constantly change jobs. Also, people who stay with one company and are loyal to that company tend to be more productive and creative for the company. Furthermore, staying loyal to one company who that person likes and enjoys tend to be more loyal and are happier in their life overall. Many people who are more loyal to their loved ones, jobs, and friends tend to be more trustworthy and happy.
The world is growing increasingly competitive, with newer technologies making the earth seem to shrink in size. Now this isn't literally of course but figuratively. Information can be shared faster, and at a fraction of the cost that it used to. Therefore this newer technology has flattened out the world, Thomas L. Friedman stated that “ Every young American today would be wise to think of himself or herself as competing against every young Chinese, Indian, and Brazilian.”. Globalization makes it easier for people to connect and share their ideas. It also makes it easier for people to travel to work and connect with their co workers who may be hundred of miles away. Globalization is bringing the world closer. When competing for a job one may be competing with an Indian or Brazilian and whoever has the most education will get the job. Moreover it isn't local competition anymore it’s now on the global level, whether its offshoring the job or having the employee move. Friedman stated that “…data entry to securities analyst to certain forms of accounting and radiology that were once deemed non tradable are now tradable.”. More and more jobs can easily be off shored to a Chinese, Indian, or Brazilian who is more qualified than an American. Furthermore the likely hood of offshoring is increasing and so is the level of education one needs to have the job they want.
In many countries globalization is a problem for many people,and many are affected by it. Globalization is becoming a threat to the environment,factories are causing smoke to spread in the environment. Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale Also the people that live there are being affected by it so they have to wear a mask. The elderly have to work,even if they are weak.
We say that we are heading toward a more global economy because of the fact that competition in today’s markets is global. This means that corporations in the United States can compete in foreign markets and vice versa, therefore U.S. corporations and foreign corporations become interdependent and thrive off each other. This can have a good impact on the United States because it allows U.S. corporations to seek materials and labor outside of the U.S. in countries such as China, India, and Mexico, where workers are paid a lot less money than U.S. workers, thus allowing them to sell their products for significantly cheaper than if they were produced in the U.S.; however, the tradeoff is that many American workers in the industrial sector lose jobs due to this shift of labor to overseas. In the long run this will be beneficial for the U.S. and although some percentage of workers are losing work, new jobs in the services sector, in fields such as computer technology, telecommunications, and language skills are opening up and experiencing growth because of this change.
Globalization is huge part of the success of some the biggest firms today, from Apple, General Electric, to Google. It allows a business to develop international. It allows reduced costs by maximizing production known product lines, allowing to expand into different markets gives a more competitive edge and expanding to new technology helps to increase to a bigger company, having more political edge within trade agreements.
Globalization of human capital is where, human resources are sook after by companies from all over the world. Due to the increased demand for skills at a lower cost, companies will tend to look for employees to work in their premises from all over the world (Webforum, 2015). In this regard, since companies are extending their operations the entire world over, human capital globalization is inevitable since they will need to work with people from these countries for them to successfully exploit global markets.
Svensson, G., 2001. 'Globalization' of Business Activities: A 'Global Strategy' Approach, Management Decision, 39(1), pp.6-18.
...e located and the human resource management to effectively manage the global workforce diversity. Furthermore, management practices across nations should be more focused in terms of enhancing expatriates’ experience with cross-cultural training. It is also highlighted that executives of international firms must efficiently devise the best strategies and plans to increase the business positive performance and for controlling resources of their foreign subsidiaries. As a consequence, global managers play a very important role in the development and success of multinational corporations in the current competitive international market since there are numerous issues that they have to deal with in the operating process. If the enterprises could overcome the management challenges, they would gain great opportunities in the global economy and achieve favorable outcomes.
With the advent of the Internet, decreased shipping costs, and the removal of trade barriers, the world market has shrunk in such a way that everyone can be a player. While many businesses thrive solely on serving a small local area, a globalized company has the benefits of increased customer markets, gross production, and brand awareness. Take for example Coca-Cola; this multi-national corporation offers products in countries all over the world, operates in over 200 of those countries with the help of its franchisees, and is the most well-known beverage companies. It is interesting to note however, that as positive as globalization may seem, there are many negative ramifications and a large population of detractors to this movement. While increased product availability is good for profits, if a local market is inundated with imported products, locally grown or manufactured items may be squeezed out, to the detriment of the local economy. Although it is cost effective to have your product produced in another country with low wages, you are essentially taking away jobs from the people of your own country, negatively impacting your national economy. However, if you manufacture your products in a country with higher wages, you must increase your products’ prices which may be harmful to your profits. While maximizing your companies profits is always of great importance, it is essential that you weigh the pros and cons of globalization and its effects on not only your company, but the areas in which you wish to spread.
Corporate globalization is a coordinated, coherent suite of initiatives -- and it is unfolding on a canvas much broader than is generally appreciated. Tight budgets, competitive markets, downsized companies -- these aspects of globalization are known to nearly everyone. Those who inform themselves learn that globalization also brings accelerating environmental damage, increased poverty, destabilized societies, a house-of-cards global financial system, and a severe threat to democracy.
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.
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.
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 reliable connections around individuals from distinctive parts of a world that happens to be separated into countries.
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.