Globalization Has Brought An Era Of Rapid Industrialisation And Modernisation

In this report I am going to define the meaning of Globalisation and assess the impact of globalisation on the way the business operate.

Globalisation is the internationalization of trade and often forces businesses to adopt new strategies for operations to suit different cultures and economies. The often easily saturated domestic market has triggered many large

Globalisation has considerably changed the face of how economies and countries operate in today’s world, enabling the openness of transactions with one another. It is due to the humanistic desires for the pursuit of prosperity that the concept of globalization paves a pathway to which economies can achieve this – facilitating the capacity to strengthen and condition existing relations between these countries.

Globalisation is the process by which the world is becoming progressively interconnected as a result of significantly increased trade and cultural exchange. It has also increased the production of goods and services. The biggest companies (such as McDonald’s, Starbuck’s, Costa

Globalisation is the process of integration and sharing of goods, capital, labour, services, knowledge, leisure, sport, ideas, and culture between countries. Globalisation is making a positive contribution to the world in many ways, such as, increased competition, stabilised security, and more wealth and economy throughout the world. Globalisation has increased the competition between many retail stores. When there are multiple producers trying to gain hold of the economy, generally the quality of goods and services rise as a result. With globalisation, more businesses are starting to cross international borders introducing a higher standard into the global marketplace, by doing this, consumers have greater options to choose from.

The outsourcing of non-core business and services has risen in recent years. The top benefactor of this rise has been India. Corporations have found a profusion of well-trained, English-speaking workers to cram into call centers and customer service jobs. This is even happening in high-skill positions like hospital X-rays technicians also. India is seen as the pioneer in outsourcing jobs

Ghemawat (2007) detailed that globalisation is more than just a powerful economic and political transformation it bound people, countries and market closer. It is a growing network of different companies, groups, and individual. Globalisation has shrunk the world from size small to size tiny and flattened the world.

Also the inferior cost of operation and labour in India makes it an eye-catching location for companies to outsource to. According to (Kathleen et.al 2014 p.6) “outsourcing is not always the answer” companies and organizations should approach outsourcing claims with significant care and attention. Some disadvantages can be problems with quality if the outsourcing provider is untested or doesn’t have accurate processes. There is also a problem of loss of management control, when you have organizations in more than one country, Human Resource must focus on treating resources as global and not country specific, with economic expansion in India this company needs to make sure it has the organizational capability to operate in India (Banfield & Kay 2012 p.201). Whilst outsourcing, top management should demonstrate leadership in the arrangement of commitment, guarantee and participation in the process. Communication also plays a vital role in the management process whilst outsourcing, it’s important to keep employees up to date of your aims and intentions in a precise and suitable fashion. This gives employees a greater sense of trust and reliability in their manager. Managers should also make an effort to involve their employees and ask for their opinions on outsourcing, with more involvement in the development employees are more likely to consent

‘Think global ', ‘Act local ' is a common phrase used by executives, companies in the UK have been heavily impacted by globalisation due to the benefits of attractive cheap labour available overseas, establish subsidiaries to overcome exportation, producing globally standardised products to achieve economies of scale and gaining a market share in local/region of a country. This is the age of globalisation, a term which has numerous definition (Dunning, 1997), but generally refers to a process of "tighter international linkages on a world-wide scale" (De Wit and Meyer, 1998).

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

Globalisation has become a more commonly used word to describe how companies are operating, positioning themselves and how the world economies behave and react. Globalisation is how businesses, economies are becoming more interconnected due to the increased trade, social and cultural exchange. Globalisation has increased the production of goods and services and the largest companies are no longer national companies but multinational corporations with subsidiaries in many countries.

It can be seen that although different aspects of globalisation was highlighted the common unifying factor is that the authors all define globalisation has the process of increasing the connection and interdependency of the world’s market and businesses. They also highlighted the trend towards a greater political, economic, cultural and technological interdependence amongst national institutes and economies.

The issue of globalisation is multifaceted and therefore a short overview is provided. The structure will lead through definitions of

As trade increases hyper-competition grows forcing organizations to go global. By a company going global it requires them to rethink strategy and reform (Ananthram and Pearson, 2008). Global organizational structure is the way a company aims to merge local preferences with global strategy. The definition of global strategy is “strategic choices that have the characteristics of being globally uniform or integrated,” (Yip et al., 1997) such as standardization of products, uniform marketing, and competitive moves, but all globally (Townsend et al., 2004; Zou and Cavusgil, 2002; Bayraktar and Ndubisi, 2014). Global strategic strategy is a way to adjust to globalization. Globalization is “the economic and social process by which economies and communities grow inextricably interdependent “(Jhirad et al., 2009). The recent financial crisis (Das, 2010), large amount of poverty, and climate change are all problems that show how the world is globally connected because all countries impact each other (Jhirad et al., 2009).

The main focus for globalization in today’s society is to be able to gain new connections and to be able to “grow.” Growth will always be an important motivation for any company or enterprise that hopes to globalize. In Herman E. Daly’s article titled “Globalization Versus