Impact Of Globalization On Business Operations - 2244 Words

Globalization has been an economic trend for the past few decades. According to Pologeorgis(2014), globalization is defined â€Å"as a process that, based on international strategies, aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, socioeconomic, political and environmental developments†. Globalization has increased the emigration and trades between countries. It has also lead to the flourish of multinational corporations due to the effects of offshoring and outsourcing. Many companies from advance countries have been offshoring and outsourcing overseas to maintain competitiveness in the global market. The trend became possible due to the technological advancements in transportation and communication. Therefore, more and more domestic workers in these advanced countries became unemployed due to the effects of offshoring and outsourcing. Improvements in transportation a nd communication have made offshoring and outsourcing more convenient. People were able to communicate directly through the internet to provide instructions and advices worldwide. According to Reich (1991), AT T had been hiring routine producers overseas to assemble phones starting in 1970s (p.209). Reich (1991) also found â€Å"this shift of routine production jobs from advanced to developing nations is a great boom to many workers in such nations who otherwise would be jobless or working for much lowerShow MoreRelatedPolitical Factors That Affect International Business1020 Words   |  5 Pagesoverseas markets there is often a risk, the risk is referred to as political environment risk, and these factors can facilitate or hinder business operation. Some of the political factors that affect international business include† (Justin Ervin. Zachary Smith A.2008). One significant political environmental factor that influences international business operation is trade agreements. Countries frequently enter into trade treaties to further facilitate trade between themselves. Case in point, a EuropeanRead MoreGlobalization Is A Key Component Of A Corporation s Global Business Strategy1196 Words   |  5 PagesGlobalization is a particular process driven by international trade and investment intentions that works to integrate the companies, people, and governments of different nations. Globalization has an impact on several key factors of the global nations and citizens. Just a few of the things impacted by globalization are the environment, political systems, culture, economic development, prosperity, quality of life, and the well-being of people in societies around the world. Information technology hasRead MoreNestle : The Largest Food And Beverage Multi National Corporation1741 Words   |  7 PagesGlobalization is the dominant force by which the world has become interconnected significantly as a result of extremely increased trade and decreased cultural differences. Globalization has made crucial changes in the production and trade of goods and services. The giant companies are now multinational corporations with subsidiaries in many countries. They are no longer national firms with their operations limited to the boundary of just one country. Such companies’ growth and operations are notRead MoreGlobalizations Impact on Government Business Relations1845 Words   |  7 PagesHow has globalization impacted on government business relations? What is globalization? Globalization is the increasing interdependence and connectedness of the world, its businesses and it markets, as well as flow of goods, ideas, technology, people etc. This phenomenon has increased vastly over the years due to technological advances, telecommunications and internet. As the world becomes a global economy, countries have the opportunity to advance more but with the catch that there is also increasedRead MoreThe Future Of Global Work Essay1457 Words   |  6 PagesThe Future of Global Work The modern business environment is characterized by the concept on internationalization or globalization, which has become a definitive characteristic of today’s workforce. The concept of internationalization can be described as a process through which the global presence of a firm increases. In this case, a local company expands its activities to overseas markets and develops new operational units overseas that enhance its ability to generate added value. One of theRead MoreGlobalization : Operations Management And Globalization991 Words   |  4 PagesGlobalization Globalization refers to the practice of combining the budget of a country with that of the rest of the world. To develop globally, organizations must dramatically transform their management tactics. Because operations management plays a serious part in the general business plan of global organizations, it is vital for operations managers to consider the different trials and tribulations existing in different countries and develop strategies based on those findings. (Glassmeye/McNameeRead MoreGlobalization And Competitiveness : The Impact On Future University Of Alberta Bcom Graduates Essay982 Words   |  4 Pages Globalization and Competitiveness: The Impact on Future University of Alberta Bcom Graduates Nickia Kwan 1468914 University of Alberta Globalization and Competitiveness: The Impact on Future University of Alberta Bcom Graduates Globalization continues to impact how countries connect with each other. This impact can clearly be seen in changing social, technological and economic spheres. As globalization continues to expand its influence, it results in greater international competitionRead MoreEssay on The Globalization of Nestle1612 Words   |  7 Pages Globalization is the dominant force by which the world has become interconnected significantly as a result of extremely increased trade and decreased cultural differences. Globalization has made crucial changes in the production and trade of goods and services. The giant companies are now multinational corporations with subsidiaries in many countries. They are no longer national firms with their operations limited to the boundary of just one country. Such companies’ growth and operations are notRead MoreHuman Resource Planning and Development Leads to Success Essay examples1396 Words   |  6 Pagesestablishment of apprenticeship programs in the 18th Century (Werner DeSimone, 2011, p.5). The significance of human resource development in today’s business environment is attributed to its role in organizational profitability. Human resource planning involves the use of business activities to forecast how management strategy changes will impact human resource needs in t he future. On the contrary, human resource development activities help an organization to ensure its workforce has necessaryRead MoreGlobalization Has A Long History1578 Words   |  7 PagesIntroduction Globalization has a long history. According to National Geographic Society (2015), globalization grew when the Europeans began establishing colonies overseas. Many of the early European explorers were eager to spread the Christian religion to the regions they visited. â€Å"The globalization of Christianity spread from Europe to Latin America through Christian missionaries working with the local populations† (â€Å"Globalization,† 2015). Globalization was accelerated in the 19th century with the