International Integration Arising From Interchange World Views
Management: These are the set of people who control and make decisions about a business for an organization in order to achieve its set goals [Merriam-Webster]
Globalization: Is the process of international integration arising from interchange world views, ideas and cultures of people marked especially by tapping cheaper foreign labor and free flow of capital.
Business: Can be defined as the activity of buying, selling goods or providing services in exchange for money. [Merriam-Webster]
Cultural shock: This is a feeling of confusion, doubt or nervousness caused by being in a place or foreign country that is very different from what you do. [Merriam-Webster]
Fair trade: This is a movement whose goal is to help producers in developing countries to get a fair price for their products so as to reduce poverty. [Merriam-Webster]
Management has had great benefits in the globalization of business as well as negative impacts. Some of these benefit’s are;
• Management adopting Internet based communication system within Multinational Corporation.
• In terms of managements support through encouragement, training and development of subsidiary managers abroad on how to overcome cultural shock.
• Management contributing towards resolving issues of fair trade.
On the other hand some of management’s negative impacts in the globalization of business are;…