Essay on The Impact Of Globalization On The Globalization Of Business
Globalization has been a human activity since the era of human colonialism and the more recent globalization as has been evident in the post cold war era. We have seen the dominance of global corporations like Walmart, Mcdonalds, Toyota etc. Most of these corporations Franchises in particular have used standardized methods of management especially in relation to the Management framework (P-O-L-C).
Good management has played a huge role towards the success of Global business as they seek to enter new markets, raw material and cheap labor from abroad, Such were obviously strategic moves as the corporations were exploiting opportunities and obviously encountered competition from new markets and management styles like cross cultural differences. Competition could scare them away yet they are able to devise plans through being visionary and come up with strategies to be able to exploit their strengths and the opportunities offered by learning from competition and challenges and remain relevant. They obviously had to be on top of their game in mobilizing the required resources and implementing the Management framework in light of all the challenges they faced from these diverse environments.
Since these Managers do not do everything by themselves they have to be effective and efficient in influencing their teams to share their vision/mission. This is in light of the difficulties they encounter when considering the…