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It has brought about an integration of the companies all over the world and has facilitated trade by way of reducing transportation costs and doing away with the barriers to trade. Globalisation has also facilitated a free flow of goods and service, knowledge, skills, capital and labour. During a strong economic growth period world exports shot up in various countries thereby contributing heavily to the Gross Domestic Product (GDP). Previously, human resource management (HRM) was typically concerned with the cost cutting activities and the administrative activities, focusing on bringing about efficiency in the system and the minimised the cost. However in the present world the role of HRM has changed and focuses on an organization’s long-term objective.
The companies’ business strategies were affected by globalisation in a large manner. The companies had access to a large variety of markets and could market their products in global markets. The emerging markets of the developing countries are of lucrative content to such MNCs who are looking to diversify. Due to the emergence of new markets the external financing sources of the companies also increase. A very important source of financing is Foreign Direct Investment (FDI) that has opened avenues for the MNCs to invest in the developing countries. FDI has a dual benefit to both the country and the company. There is a global market for the products of the MNCs. Moreover due to abundance of labour resources in the developing countries the MNCs often shift their production processes to such countries such that they can carry out production at low costs. Also the political stabilisations across the globe and the favourable relations between the countries have made positive impacts on the strategic positions of the companies. The socio-political globalisation has given rise to regulatory bodies that govern the different policies that mark the path of trade between various companies. The most
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However, globalization is not a uniform evolutionary process as various political, economical, cultural and technical factors can have an adverse impact on the process of globalization and expansion (Wadsworth, 2010).
Scandals and seismic events are sufficient to distort the beliefs of their shareholders, stakeholders and investors. About 1 million euro has been wasted in 13% of such fraud cases resulting in financial losses for the country.Firms need to apply the sustainability principles in business management.
It is reflected in the fact that the word “Cosmopolitan” is a composite of Greek words for “order”, “universe” and “citizen”. In fact the idea of global citizenship is older than the concept of nationalism. But the words such as “globalization”, “globalize” and “globalizing” started being commonly used in the 1960’s.
In 2012, it has been enlisted as the world’s third leading public corporation by the Fortune magazine’s Global 500 list. It is one of the world’s biggest private employers, providing employment to over two million people. It is the biggest retail organization in the world.
The human resource management of both the emerging and established organizations has to develop policies that are heavily influenced by the five factors framework. This paper aims at discussing the how Apple Inc. HR policy fits into the aspects of culture, work-force, technology and organizational strategy.
I-HRM & Performance Management and Strategic Management: Title Page: List : Abstract: Introduction: The need: They dynamic nature of I-HRM: Literature Review: Strategic management models: Performance Management: Communication: Performance management and motivation: Strategic Management: Expatriate factor: Recruitment Factor: Site Factor: Conclusion: References: Abstract: Human resource management is an integral part of any organization’s frame work, regardless of its domestic or global patterns.
According to the paper globalization has also seen to an extensive and increased use and exchange of technology. Technology is a critical tool in competition as it is essential in ensuring quality of goods and services. Additionally, globalization has seen that a company like Sony improves greatly on its information and knowledge transfer which, much like technology is important in helping the company stay connected and informed of emerging customer preferences.
However, the ties among European nations were lost, and this prompted for the formation of European Union to control production in the mining industries in Western Europe.1
In 1957, some European countries such as France, Italy, and Belgium among other signed the
Skills, training and knowledge are crucial factors in the attainment business goals; knowledge workers have emerged as a very influential part to the human resource management of modern organizations. It is therefore important to understand the role knowledge