Management today can be associated with one key word: technology. The simple printing press, invented in 1440, created a foundation for technology as it helped spread news and knowledge for the coming years. Technology, by definition, is the application of scientific knowledge for practical purposes, primarily in industry. With technology, new forms, techniques, and practices are evolving in the business industry every day. One building block to a modern company is globalization. Globalization is the integration and interdependence of economic, technological, socio-cultural, and political systems across diverse geographic regions (Daft, 2013). Basically, countries from across the world join together to connect the economic chain for smoother …show more content…
In today's advancements in the management world, one cannot stumble upon an instrument that is helping their business thrive without it being related to technology, and for the powerhouse companies, interconnecting the world is the ultimatum goal to succeed in economic dominance. Globalization and technology go together uniformly and play an important role in businesses. Technology has shaped the work of management in three primary formats including advanced communications, cost management, and security. Since the adaptation of email in the workplace, the advancements in communication technology has skyrocketed with multiple forms of communication, including audio and video communication. This style of management communication does wonders for businesses because of the immediate response times. Having communication between partners across the street or across the globe can …show more content…
Globalization comes in a four-part package including diversity, training, money proficiency, and overall standards. Diversity is the state of having variety, in the business terminology this means a more diverse workplace and customers. Businesses that are conforming to this new idealism need to gain new policies in the workplace. Companies now can subject themselves to areas in the world to a want and need basis based off of that culture. In the training segment of globalization, managers need to implement a new style of training in the workplace to conform the new diversities and cultures that they are working with. One of the battles with this topic is discrimination and how new styles of management are being used to consolidate to commute to everyone's needs. Cultural discrepancies can be managed in a proper and more meaningful matter through educated based managers to help consume the diverse world we live in. One downside to globalization is the money proficiency aspect, more and more companies are outsourcing to save money on products that would cost a lot more if being manufactured in the United States. This has resulted in sending jobs overseas rather than keeping the money in the states. Although this may benefit the large companies, this also hurts the small business side
Evolving communications technology has changed the way business personnel communicate within an organization. The use of technology allows companies to be more dynamic and adaptive to changes by allowing instantaneous communications via interconnected computer networks. This dependency on information and communications technology has evolved these emerging technologies as crucial tools for providing operational support to business communications tasks (Wilkinson, 2006). Remaining competitive is a primary goal of organizations and effective communications help companies achieve this goal. Competency in communications is considered the root of success for many activities including planning, organizing, team work, and leadership (Waldeck, Durante, Helmuth, & Marcia, 2012).
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.
There is really no organization that it is not faced with a changing situation. Technology and globalization are perhaps the biggest issues impacting most organizations today. The difficulties that loom for creating that change can be intimidating.
Zhu, Y. (2009), International Business Strategy ,2nd Edition, Middlesex University Business School, McGraw Hill Publications, ISBN : 9780077127015, pp 3:36
The paper focuses on the increased complexity of globalized organizations and methods of altering the process within the structure. Business and environment change constantly to sustain development in emerging markets and increase efficiency. Integration of relationships and processes of the world systems, help to manage local, regional and planetary balance to manage duplication of success become conceivable. The retail giant Wal-Mart exhibits its ability to transform the organization asynchronously with the increase integration of globalization.’ Wal-Mart unveils the type of integration possible between globalization, and business services as it adapts, eliminating redundancies and repetitive movement. It observes the effect and influence, propagated on business through it use of supply chains, and influence.
Jack Welch, an American business executive, couldn’t have said it better when he stated, “Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital – the world’s best talents and greatest ideas.” The exchange of ideas and cultures has lead to a phenomenon where countries have left the old ways and have started to find ways that will make them successful. As globalization started to spread across the globe, countries faced devastating consequences as they start to get into more conflicts with one another, however despite these negative impacts, globalization created common interests and values which has inspired an international integration that has set the basis of the 21st century.
Businesses are now able to approach overseas markets, they are no longer confined to their areas of establishment. Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy applications. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunications, travel, stock markets, shipping and even around our daily lives.
Globalization refers to the absence of barriers that every country had. Yes, it has helped to demolish the walls that separated us .Globalization, which is the process of growing interdependence among every country in this planet, can be seen as a sign of hopeful and better future by some, but for others it represents a huge disaster for the whole world. That’s why we are going to see the negative effect that globalization has on culture then focus on the ethical disadvantage it brought, to finally talk about the damage it did to skilled workers.
...ad of capitalist organizations that are no longer constrained by borders are replacing governmental control, and corporations are becoming more heterogeneous and adapting to people who are from different nationalities and cultures. In the modern global economy professionals who possess an understanding of sociology, psychology, communication, and management are more likely to succeed in business. “Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas” as cited by Jack Welch N.D.
The interrelation and the integration of people, companies, governments and nations can be described as globalization. Globalization was produced due to international trade and investments with the help of technology. In today’s world, globalization is very essential. Advancements and technology help the process needed for globalization. Many countries and organizations similarly are affected by this phenomenon, on the other hand, smaller countries have benefited from larger contributors to the world’s market.
Communication is important in life. Companies need to communicate with other companies and customers. The managers also need to communicate with the staff. The technology provides us with many means of communication, the most important of which is e-mail.
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...
Using 1997 financial crisis and other examples, discuss how globalization is important to the modern business journalism. Introduction
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.