The paper "Globalization in the Management Context" is a great example of management coursework. Globalization is a phenomenon characterized by the increased interconnectedness of economies, cultures, and societies around the world. Amidst globalization, economies of different countries and regions have been integrated. Transportation and communication infrastructure has been enhanced that allows people from different countries to communicate quickly and move from one place to another quickly (Guenther, 2013). Globalization has allowed for increased interaction between people with different national, ethnic, and racial backgrounds. Consequently, people with different social and cultural backgrounds increasingly share social and cultural values.
One of the significant impacts of the global changes is that it has facilitated the transfer of products and services from one country or region to another (Hill, 2014). In other words, the various aspects of globalization mentioned above are supportive of global business and thus, they are supportive of firms operating in the global market. The presence of globalization is felt in all societies across the world today. Globalization is associated with certain pros and cons and their impacts on organizations depend on the type of organization and its location.
Globalization affects the performance both small to medium enterprises (SMEs) and multinational enterprises (MNEs), but it is more advantageous to the MNEs than SMEs operating in both developed and developing countries. This essay is divided into three main parts. The first part explores the general meaning of globalization, its relationship with management and its connection to the organizational context. The second part examines the conditions that should be there for advantages of globalization to be realized and the third part explores the conditions for there to be disadvantages of globalization.
Globalization can be defined as the integration and interaction process, which occurs between people, governments of different nations and companies. It is a process-driven mainly by investment and international trade aided by effective and efficient communication and advancement in information technology. The opponents of globalization believe that it has made it easier for well-established companies around the world to act with less accountability (Wijen, et al. , 2012). Companies with unethical behaviors can spread these behaviors to different parts of the world. There is the belief that many cultures in the world are being overlapped by the tidal wave of “ Americanization. ” Advocates, on the other hand, believe that globalization has been able to create jobs, to make companies more competitive, to promote global economic growth and resulted in the lowering of prices for consumers.
The advocates believe that it boosts development in the developing countries because of the infusion of technology and foreign capital. Additionally, globalization allows the spread of prosperity, which has enabled respect for human rights and democracy to flourish. Regarding management, globalization refers to a large number of activities of business enterprises that are carried out in different locations in the world across the national boundaries (Wijen, et al. , 2012).
Thus, it involves the procurement of raw materials, manufacturing, and selling the finished products by the same firm to different countries in different parts of the world. For this essay, globalization will entail the tendency of different technologies, businesses, and philosophies spreading throughout the world. This involves a total interconnection of the marketplace, which is not hampered by national boundaries and time zones.