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The Impact of Globalization on Strategic Human Resources Management: a case study of the BP Oil Corporation - Literature review Example

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This research paper gives a critical evaluation and discussion of studies done on the impact of globalization on the strategic human resource management of a multinational company with a case study of BP oil Exploration Company. …
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The Impact of Globalization on Strategic Human Resources Management: a case study of the BP Oil Corporation
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"The Impact of Globalization on Strategic Human Resources Management: a case study of the BP Oil Corporation"

Download file to see previous pages In addition, the multinational company deals in energy areas of production, petrochemicals, oil refining, marketing and distribution. The operations of BP are spread all over the world in more than eighty countries. This demonstrates that the company is one of the biggest employers in the world. As a result strategic human management within BP has been impacted by the globalization of world economies which characterize modern day business operations. The approaches applied in staffing of the company and the compensation mechanisms have been influenced by the global economies and therefore vary within its various subsidiaries in different regions of the world. The exploration and production sector of BP Company has been internationalized into more than thirty countries across the world with a human resource of more than 20 000 employees. Globalization is therefore likely to affect the company more than companies which have not been internationalized. The complexity of strategic management of BP’s human resource is due to this internationalization which leads to complicated staffing, evaluation of the human resource and compensation. In addition, there are social cultural, legal and economic systems in the different countries where the oil business of the company operates which affect its human resource. Various countries and regions have different labor markets with varying labor laws and compensation systems which have an implication on the strategic plans of the company. Research Questions 1. To determine the extent to which globalization has affected multinational companies 2. To evaluate the implication of globalization on the strategic human resource management of multinational companies. JUSTIFICATION FOR THE STUDY A lot of studies have been...
Because of the rise of globalization and internationalization of companies, there are political, the economic and social cultural issues which must be addressed by companies in their strategic plan of managing their human capital. The competitiveness in the professionalism and legitimacy of employees and management of companies is caused by globalization. The strategic management of human resource therefore, must apply appropriate methods or approaches in the management of employees within the subsidiaries of a company in foreign countries. This is to ensure that legal frameworks and ethics are practiced as a way of ensuring that the success of the company in the foreign country is effectively attained. The acceptable legal and ethical consideration of a company enables it to be recognized by the host country as the legitimate contributor to the economic growth of that country. In addition, there are regional labor laws and trade agreement which affect a multinational company as a result of the globalization of the economy into mutual economic agreements. For a company to successfully meet its objectives, the compensation of its staff and executives should be considered in its strategic management goals for the human capital. Expatriate compensation approach as a motivation method for the executives of a company within a foreign country is considered as the appropriate approach. ...Download file to see next pagesRead More
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