Globalization is one of the most controversial topics today. It has a strong impact on the economic, social, cultural and technological aspects of nations and governments. Aside from its impact on nations, it also affects the quality of life of individuals and institutions worldwide.
According to (Giddens 2001), globalisation is "the growing interdependence between different people, regions and countries in the world as social and economic relationships come to stretch worldwide". The International Forum on Globalization defines it as, "the present worldwide drive toward a globalized economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments." (Rosenberg 2000) defines "The term 'globalization' after all, is at first sight merely a descriptive category, denoting either the geographical extension of social processes or possibly, as in Giddens' definition, 'the intensification of worldwide social relations'."
According to the (World Bank Brief 2000) globalisation gained pace in the 1980s and 1990s, with the advancements in information technology, transportation and global communications. These include improved telecommunications, the Internet and faster world travel, to name a few. These technological improvements enabled people to transport goods, services and knowledge, faster, farther and more reliably. Governments have also adopted more open policies that allow for closer international economic cooperation. All these factors contribute to globalization.
With the effects of globalisation permeating every ...
In governance and business, many of today's leaders have lost sight of their visions for their organizations because of globalization.
In my research, paper I will attempt to explain that in order to maintain a competitive and successful organization, leaders must keep up with the pace of rapid change and view globalization as a significant part of their structure. In my paper, I will not focus on economic globalization, but rather on the cultural and social dimensions of global connection and integration through the eyes of visionary leaders. My paper will describe their ideas and origins to understand the rationale of globalization. This paper will look into the approaches and strategies that can be adopted by businesses and companies in a highly globalized marketplace.
Globalization has proceeded throughout history at a fast pace and with uneven intensity. Many organizations have experienced changes due to globalization. They have realized the acceleration once again late in this century, after almost 50 years of regression. More and more, national economies today integrated into single global markets through trade, finance, production, and a dense web of international treaties and institutions. My research will explore the relationship between the different elements that are associated with the new developments of globalization.
Sub problem 1: Organizational leadership:
In order to address leadership and globalization in the same paper I think we must talk about certain aspects of visionary leadership that make the organization run
Criterion 1: Mission Statement is a vital part of organization success. It provides the rules and guidelines in which the foundation of the organization is built on
Criterion 2: Vision ...
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Politics are no longer based on independent states, but are inclusive of alliances and interactions with other political entities. Social interactions are no longer confined to schools, communities, or even countries, the social networking sites have ensured that social interactions include people from different countries.
This then results in them receiving a higher net profit. Globalization has the tendency to bring us all closer together as one and we are living in an era of globalization resulting in an increase in telecommunications, foreign investments and innovative products.
Unprecedented technological advancement has enabled people to be in touch all over the globe. Thomas L. Freidman and William J. Duiker continue the anti-globalization – globalization contest in their works. Friedman, in his book ‘The World is Flat’ reveals the benefits of consolidation of resources through a global eye.
Global capitalism is the situation in which industries are engaging in private investments worldwide. Trade is controlled by the market forces such as supply and demand. With increased globalization of industries, greater competition has emerged thereby necessitating downsizing for the purposes of cost reduction, greater efficiency, increased productivity and organizational change.
Many goods and services cross border and the flow of international capital has indeed reached even underdeveloped countries and emerging economies like India and the Philippines. Both countries are heavily competing for outsourced labor market because the market force in these countries can suit western language and culture.
A major example of the impact of globalization is the recent integration n of capital markets throughout the world. Globalization is not a new theory, people before us were quite aware about its existence, but in recent years, globalization has spread at a faster pace and its affects have intensified.
In the present world where communication technologies and networking has changed tremendously and still changing very fast, forced businesses to change accordingly. The complexity and multidimensionality of the international business environment forced to the development of some frameworks trying to classify its components.
The 20th-century arrival of mass circulation newspapers and magazines, film, and television further enhanced a growing consciousness of a rapidly shrinking world. Globalization transforms economic system of the world brining new opportunities to less developed countries; it changes cultural and political spheres popularizing democratic values and principles and promulgating western style of life.
The levitt’s theory was an analytic study of the global trends and the evolution of globalization as a major driver for the modern business. The competition barriers have reduced as there is scope for moving to the new places where there is low reach for the product.
This situation leads to shift the traditional trade, mainly patterns between nations. Reducing tariffs and the homogenization of foreign investment and trade policy provides manufacturing companies with new opportunities. We can see this atmosphere of globalization of manufacturing mainly attributes to the Peter Drucker's SMART test which hold the five goals for a successful business i.e 'Specific', 'Measurable', 'Achievable', 'Realistic' and' Time-Related'.
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