Impact Of Management In Globalization

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the impact of management in the globalization of business. what is management? The organization and coordination of the activities of a business in order to achieve defined objectives. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. WHAT IS GLOBALIZATION Fundamentally, globalization is the closer integration of countries and peoples of the world which has been brought about by the enormous reductions of costs of transport and communications and the breaking down of artificial barriers to the flow of goods, services, capital, knowledge and to a lesser extent, people…show more content…
Culture shock experienced by managers who work abroad It takes a lot of money to send an employee abroad: travel, accommodation, family resettlement costs. Yet for an embarrassingly large number of people it “does not work out”. They don’t function very well. A great adventure and a golden opportunity turns into a nightmare. Divorce, drinking problems, depression.....pretty grim legacy from what was meant to be a wonderful move. Many organisations are happy to employee “the natives” at a junior level, but want tried and tested people from head office to go and “run the show”. They know how the business works and understand the culture. Their job is a sort of cultural franchising, or corporate colonialism. We need “our man” in charge who is happy to show the locals how it should be done. 3. Fair trade issues Globalization, trade and the free markets are the talks of today. Many envision or talk about a future where people of different nationalities and cultures will be able to share and trade resources across boundaries in a manner that will benefit all of…show more content…
How free is the free market? Why do the poor get poorer and the rich get richer? A lot of overbearing regulations can give too much power to a few, and potentially corrupt ruling regime and prevent innovative ideas from flourishing. It can perhaps be an obstacle for a foreign nation to invest in a country due to those conditions and regulations which increase costs. (The fact that some of these regulations are usually for the benefit for the people of that nation poses another problem, altogether, mentioned in the MAI and Free Trade sections.) 4.Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addresse. According to this definition, business ethics covers the hole spectrum of interactions between firms, individuals, soc iety and the state. In other words, business ethics is a complex as business itself. It is not an optional accessory to business life or a mere enthusiasm of the philosophers and moralists; business ethics is how the people conduct their business affairs, from the basest fraud to the highest levels of excellence (Grace and Cohen, 2005, p.
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