Globalization implies the merging of local perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. It is a process by which business develop international influence thus having various impact on management.
Taking example of the multi-national corporations that implement themselves in other countries contribute to positive and negative impacts on the management ,for example international businesses through globalization creates employment for the host country and thus bringing in new technologies to make the workers develop new skills and expertise hence leading to more productive and skilled labor. There may also be transfer of labor towards other countries where the multi-national corporations are based. Hence there will be a transfer of knowledge, skills and expertise beyond the local border of the host country. …show more content…
International business erodes local customs and traditional cultures, quoting George Ritzer the “mac donaldization” whereby he described the way how the rest of the world has taken the fast food restaurant in their lives and the traditional business approaches has phased out. Thus, there are cultural changes that affects management while operating in international business, managers working abroad has to face various aspects while working abroad , one of the main issues is communication , here the language is not the main issue but the how and when also to communicate plays a big
Taking example of the multi-national corporations that implement themselves in other countries contribute to positive and negative impacts on the management ,for example international businesses through globalization creates employment for the host country and thus bringing in new technologies to make the workers develop new skills and expertise hence leading to more productive and skilled labor. There may also be transfer of labor towards other countries where the multi-national corporations are based. Hence there will be a transfer of knowledge, skills and expertise beyond the local border of the host country. …show more content…
International business erodes local customs and traditional cultures, quoting George Ritzer the “mac donaldization” whereby he described the way how the rest of the world has taken the fast food restaurant in their lives and the traditional business approaches has phased out. Thus, there are cultural changes that affects management while operating in international business, managers working abroad has to face various aspects while working abroad , one of the main issues is communication , here the language is not the main issue but the how and when also to communicate plays a big