Globalization: Human Resource Management Systems Are Key To Success

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Today’s business environment is changing at a breaking pace. The rampant pace of global competition, the speeds of technological developments, rapidly changing demographics, and the incredible increase in information technology have resulted in a business environment that changes day to day, hour to hour. To remain competitive in such a dynamic environment, businesses must continually improve their human resource management systems and organizational changes. Managers must continually be looking for ways to improve all aspects of the employment relationships.
International Capital Flows
The extent of international flows of capital and of the information needed to make investment decisions can provide further evidence of
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Even though migration is not occurring on a huge scale, the number of workers from Mexico that have migrated to the US is quite high due to the fact that their wages have increased ten fold. Immigration into the US was much higher at the beginning of the 20th century than recently. During the late 1990s the US accepted approximately one million immigrants annually, including illegal immigrants and refugees. A large number of legal immigrants have also been accepted globally. Western Europe was at its height of accepting legal immigrants in the high growth decades that followed World War II. France and the UK accepted many immigrants from their former colonies. Germany also accepted large numbers of guest workers during this period. During a decade and a half, the portion of the workforce, which consists of foreign workers, doubled. However, this high number of immigrants drastically declined in the mid 1970s.
Public Policy
Public policy plays a crucial role in determining the extent to which countries and their companies participate in globalization. Public policy measures have the potential to reduce the interaction between nations, which would cause the reverse of globalization temporarily. Since World War II, industrialized countries have progressively opened their economies and a number of developing economies also began a process

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