How Neoliberalism Has Changed The World

1221 WordsSep 1, 20165 Pages
This essay aims to identify how neoliberalism has changed the way we do business in particular managerial strategies to maintain competiveness and adapt to changing market conditions. Firstly, I will briefly explain the term neoliberalism and how it has affected the world. Secondly, I will explain how neoliberalism has influenced managers and their strategic reforms. Thirdly, I will further explain the importance of strategizing and planning in regards to managers in today’s market. Finally, the conclusion will summarise the preceding points of the essay aimed to argue that neoliberalism has changed the world including the way managers strategize and think in today’s economy. The term Neoliberalism was introduced around the 1990’s which was perceived to be the future for a free market economy. Essentially it originated from the idea that an economy would work more efficiently in the hands of the private sector. At the time there were many anti neoliberalism and anti-globalisation activists protesting governments against free markets fearing foreign threat in regards to the country’s factor endowments (Davies 2014, p. 309). The concept behind Neoliberalism is that the global market and its resources are shared equally, in other words becoming a free market economy where government does not intervene, creating more innovation consequently affecting trade and globalisation (Styhre 2014, p. 270). The reality of the story today is far from what is was set out to be,
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