Unarguably, globalization is like an implacable avalanche. Whether we like it or not it is here to stay today and will persist in a number of years to come. My full appreciation for this point came with my understanding on this module, particularly with the three readings…
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Collectively, they explained the dynamics of the global business landscape and the variables that drive the numerous processes at work within it. Concepts such as culture, technology, knowledge and the legal and political diversities found in various national economies all combined to demand new and complex requirements for multinational companies. These has called for their transformation as truly global organizations through changes in their organizational structure and the adoption of new business strategies in order to address the unique challenges and issues posed by the global environment.
Before this module began, I have an inkling on what globalization is and its impact on both organizations, national economies and consumers. But my knowledge was limited to the superficial, abstract and general concepts. For instance, I know that globalization threatens local companies and could endanger their very survival because of the superior strength of the resources available to multinational companies that are invading the local market. But this module enlightened me further on the fact that it is not always easy for multinational companies to do this. ...
” (p8-9) Secondly, there is the form of globalization that relates to the way organizations structure, control and manage their value-chains in terms of global operations. This is done “according to the availability of resources, cost levels, skills, quality and a host of other variables. (p. 9) These two forms of globalization supposedly were responsible for the emergence and the perpetuation of multinational companies who have already surpassed small national-economies in revenue generation. The third form, is characterized by how globalization adversely impacts several areas such as the democratic system, the environment, national cultures and identities, among others. (p. 12) The sheer complexity of the globalization economic model, hence, calls for a multidimensional approach by which stakeholders navigate its processes. Stonehouse, Campbell and Hamill emphasized, for example, that it should already be obvious how multinational/transnational companies must never adopt a global strategy that is primarily characterized by global standardization because it will fail. (p. 8) Companies have to make some fine-tuning in their strategies every time they enter a market. The reason is that each country has its own national circumstance. This can also be demonstrated in the numerous organizational configurations developed in order to pursue different objectives and address specific areas in the global business environment (see figure 1). Motives, Strategies and Organizational Configurations (Source: Bartlett and Beamish) As I saw from the diversity in organizational structure, I understood the sense in rejecting a global standards in strategy. For example, the Centralized Hub organizational model may work in some economies or markets with fierce competition but may not
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(“Globalization Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
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(Globalization Essay Example | Topics and Well Written Essays - 750 Words)
“Globalization Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/business/1392838-globalization.
According to the research findings globalization is of great significance in contemporary societies. When looking at its impacts, it is apparent that globalization is transforming contemporary societies. This is because globalization has had positive impact in nearly everything ranging from, economies, cultures, information flow, governance, criminal investigation, among others.
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Such fragmentation in the origins and belonging of the ethics and moral values therefore offer a rare glimpse into a world which is shrinking. Globalization, as a phenomenon, is overcoming the local cultures, values as well as the indigenous political will of the individual.
Globalization impacts on societies in the cultural, political and environmental systems (Held et al. 2005). It also affects economic growth and development of nations worldwide. The concept is not new since over the years, people and companies have been trading for long distances.
Globalization, Its Significance to Challenges of Development and Key Debates. Globalization and related development were considered as the wave of the future when they first appeared to unite countries into one global economy for the mutual benefits, which presumed global integration and interdependence in the technological, economic, social, cultural, ecological and political spheres.
Globalization has introduced new ideologies that have replaced the traditional thinking perspectives. The reception of globalization in each specific culture varies, but a close analysis reveals the aspects of life that change. This brings in the aspect of globalization, used to denote the various ways in which each distinct culture localizes globalization.
The layman's perception is predominantly confined to economic aspects of globalization, which is a very narrow perspective and is mostly confined to a mere expansion of trade and investments. However, the process of globalization has much wider implications that go beyond the mere internationalization of markets.
Episodes Three which is entitled New Rules of the Game discussed globalization and its impact in the world economy.Globalization doesn’t just involve the goods and services.Market integration also means the assimilation of countries’ financial markets.Countries like Thailand were greatly helped by the inflow of foreign direct investments.