Essays on Globalization Effects on WorleyParsons Corporation Case Study

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The paper 'Globalization Effects on WorleyParsons Corporation" is a great example of a management case study. Globalization has become a key strategy for ensuring sustainability and enhanced profitability for the contemporary corporate realm. Many business organizations have embarked on the introduction of their services and products in the global market as a strategy for dealing with market saturation and competition especially at home country markets as well as the expansion of market segments. Business globalization involves different strategies including joint ventures, the establishment of subsidiaries in a foreign country, and export as well as contracting of foreign countries to manufacture products.

The different strategies applied by businesses in their entry into the global market present diverse benefits and challenges that businesses must consider before their venture. Globalization has increased the demands of international competitiveness and strengthened the interrelationship between competitiveness and employment (Porter, Delgado, Kettels & Tern 2009). It has further increased the need for human resource that is capable of engaging in new modes of production, competition, and coexistence. Cultural diversity management has become one of the greatest challenges undermining business globalization efforts in countries such as China and India. Business organizations venturing in the global market must consider factors such as political and economic systems, human capital, and culture that differ from one region to another and influence human resource management policies.

Strategic human resources management (HRM) has morphed into an important tool of responding to the globalization challenges posed to business organizations venturing into the international market. Multinational enterprises are compelled to streamline human resources management functions such as employees’ recruitment and selection, performance, employee training, and development as well reward systems to fit into the policies followed in given business locations. This paper explores strategies applied by Worley Parsons in dealing with the globalization of its business and the determination of whether there should be any differences in HRM policies and procedures based on the location.

References

The paper 'Globalization Effects on WorleyParsons Corporation" is a great example of a management case study. Globalization has become a key strategy for ensuring sustainability and enhanced profitability for the contemporary corporate realm. Many business organizations have embarked on the introduction of their services and products in the global market as a strategy for dealing with market saturation and competition especially at home country markets as well as the expansion of market segments. Business globalization involves different strategies including joint ventures, the establishment of subsidiaries in a foreign country, and export as well as contracting of foreign countries to manufacture products. The different strategies applied by businesses in their entry into the global market present diverse benefits and challenges that businesses must consider before their venture. Globalization has increased the demands of international competitiveness and strengthened the interrelationship between competitiveness and employment (Porter, Delgado, Kettels & Tern 2009). It has further increased the need for human resource that is capable of engaging in new modes of production, competition, and coexistence. Cultural diversity management has become one of the greatest challenges undermining business globalization efforts in countries such as China and India.

Business organizations venturing in the global market must consider factors such as political and economic systems, human capital, and culture that differ from one region to another and influence human resource management policies. Strategic human resources management (HRM) has morphed into an important tool of responding to the globalization challenges posed to business organizations venturing into the international market. Multinational enterprises are compelled to streamline human resources management functions such as employees’ recruitment and selection, performance, employee training, and development as well reward systems to fit into the policies followed in given business locations.

This paper explores strategies applied by Worley Parsons in dealing with the globalization of its business and the determination of whether there should be any differences in HRM policies and procedures based on the location.

Company Profile

WorleyParsons Corporation has a long history dating back to 1971 when the founder and the current CEO of the company established a small engineering consultancy company known as Wholohan Grill and Partners in Australia. The company has since grown to a key player in the global market through the provision of a wide range of products and services in the global market. The growth of WorleyParsons Corporation to its current status in the global market has involved the application of different global market entry strategies including acquisition, contracts, and initiation of joint ventures (WorleyParsons 2011).

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