Challenges Faced By The Third Phase Of Globalization Essay

961 WordsFeb 29, 20164 Pages
Question 2: What are the main challenges faced by managers in what has been called the “third Phase of globalization”? Introduction: The question asked for the challenges faced by managers in the “third phase of globalization.” The key words for this question is the “third phase of globalization.” Therefore, when we begin to find the challenges that managers would be faced. We need to understand the meaning of globalization, and what the third phase is. According to the book “culture in the age of three worlds” (2004), it mentioned that with its various kin transnational, postmodern, and postcolonial “globalization” displaced “international”, the key word of an earlier moment, which had modified not only such grand capitalist forces as International Business Machines (IBM) and International Tele nationals of the world working class. As the skeptics remind us, globalization is not new, but is a long-term tendency of capitalism. Main body: After we understand the meaning of globalization, we need to figure out what is the phase of globalization, especially the third phase of globalization. According to Friedman (2006), he mentioned that, there have been three great ears of globalization. The first lasted from 1492-when Columbus set sail, opening trade between the Old World and the New World-until around 1800.1 would call this era Globalization 1.0. During the Globalization 1.0, the countries and governments were influenced by religions and Empire hegemonies, they used
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