The Negative Impact Of Globalization On Business
According to Sarah Ganly (2010), “Globalization has also impacted management because it has led to many employees transfers to international locations. This causes the need for more management and forms of communication. This also requires management to consider the needs of employees in other countries and to offer compensation for relocation. Thus, management must consider a much larger market, more competition, and international employees.”
With these considerations, it is necessary therefore that the management approach employed by MNCs must be adaptive to its new setting and that its staff must be skilled in international relations where cultural diversity and differences are considered in their …show more content…
"I know that globalization has also created many negative effects, but I believe it 's always better to look to the future with optimism and hope. Tomorrow, hopefully, we will be able to minimize or even eradicate the evil forces that give globalization a bad name. Thus we will be able to move forward with peace and harmony"(Kulkami A., 2009)
As far as poverty reduction is concerned, globalization played a role in poverty reduction in developing countries. In deed most developed countries experienced reduction in poverty in the proportion of their living below the poverty line, including fast developing countries like China, India, Vietnam.
Through globalization, people from different countries are provided with jobs opportunities within the global. It has created the concept of outsourcing. Developed countries prefer to provide work to developing countries where costs are cheap.
This is a powerful force that drives the world toward a converging commonality. It has proletarianized communication, transport, and travel. People from different places everywhere wants all the things they have heard about, seen, or experienced through