Impact Of Globalization On The 21st Century

We live in a time of worldwide change. What happens in one part of the world impacts people on the other side of the world. People around the world are influenced by common developments.

Business leaders can get caught up in the overwhelming pressures of preparing their companies to grow and meet the challenges in a global economy. These leaders understand the need for organizational changes and adaptations but fall short of achieving their goals when their leadership styles do not inspire or motivate their followers. It is critical that leaders understand their particular style of leadership and the impact it has on employees, peers, and company success. The need for effective leadership is just as critical in the public sector as it is in business.

Complete freedom for co-workres or group to make any and all decisions and solving all problems. Laissez-faire leadership can be effective in situations with highly motivates, highly skilled , and solo working employees, co-workers and group members. This leadership also allows for open and available for consolation and feed back of group or co-worker. Disadvantages are typically if a group member or employee may lack knowledge or experience to complete decisions and do tasks on their own. There is also poor defined roles within this leadership allowing for chaos due to take of guidance and roles specifies within the

Copuious research has been organized regarding leadership theories and styles. “The current leadership body of knowledge is a fragmented and “messy landscape” comprising inputs from a variety of contributors including academics, practitioners, and consultants, with numerous self-proclaimed experts and commentators thrown in for good measure.” (Latham, 2014, p.12). Contingent to this week’s assignment I will include four leadership theories, including the founder, the year the theory was introduced, and the key components of the theory. Also, I will include the Leadership Theory Taxonomy in the Apenidx area.

On the active-passive leadership continuum, the full range places transformational, transactional, and laissez-faire leadership, of which the last one represents the absence of leadership. Originally from French, “laissez-faire” is a phrase which implies a “hands-off, let-things-ride” approach. In this way, leaders take no responsibility, provide no feedback, and ignore followers’ needs (Northouse, 2004).

Since the early 1990’s, the term globalization has become a bit of a buzzword, prevalent in the speech of policy makers, popular press, and academic journals. It is used frequently to describe the …. . Its consistent use has led many people to a certain understanding of it most basic meaning, but it is an immensely complex concept that can not be truly understood at the top layer of meaning which is prevalent among general society. There are multiple varying definitions for the globalization phenomenon.

Laissez faire is the absence of effective leadership (Yukl G, 2010). Laissez faire leaders ignore problems and follower (Yukl G, 2010) and they do not contribute to the growth of the follower ( (Northouse, 2007). Feedback, rewards and leader involvement are totally absent in this type of leadership hence reduced organisational commitment.

The impact that globalization has and will have on the U.S economy continues to be one of the most debated economic issues of our times. Many people believe that due to the international trade there are less jobs and lower wages for people. International trade is important to the America economy, and to the economy of the world as whole, because neither the United States nor any other country in the world has everything that its people need and want. Globalization and international trade, come with a brighter view of the international trade and it has positive impact on economic growth of the United States.

Globalization is a process that connected the world and has exposed people to one another. According to Campbell, globalization is defined as a “complex web of social processes that intensify and expand worldwide economic, cultural, political, and technological exchanges and connections” (Campbell & et al, 2010, pg. 4). It has become easier to connect with people all over the world and mix cultures. Globalization creates new social networks, multiplies existing connections, expands and stretches social relations and connections, intensifies and accelerates social exchange, and appears as objective and subjective plane (Steger, p.9-15). It has become a new way of life for modern people and it would be impossible for nations to become isolated again.

Globalization occurs in three forms: political globalization, cultural globalization, and economic globalization. All forms work together to expand relationships and create a single place. On its own Economic globalization is a way for economic relations to extend and integrate across the world. Economic globalization and its policies as well as, the ideology of neoliberalism have a way of creating an inequality between countries and creates an endless debt cycle. International economic organizations have caused long-term effects due to the harsh conditions these organizations impose. A prime example of this effect can be seen in countries such as Jamaica. It is important to understand neoliberal policies and economic organizations in order to understand how debt still plays a role in today’s globalized economy.

“The laissez-faire leadership style is also known as the “hands-off¨ style. It is one in which the manager provides little or no direction and gives employees as much freedom as possible. All authority or power is given to the employees and they must determine goals, make decisions, and resolve problems on their own.”

China takes a huge role in the global economy. If you will pay attention on any goods around, it can be noticed that the majority of products produced in China. The economic system in this country is enormous. In the 21st century, no country has attracted as much attention to itself as China. In an amazingly short period of time, China increased economical level of the country and developed itself rapidly, however for most modern advanced countries this process took centuries. Every year China increased its impact on the world economy and politics and still doing so. If earlier this influence was only related to the growing share of China in world trade, GDP and manufacturing, in the second decade of the 21st century Beijing started to effectively use the process of globalization for its economic recovery. China began to pursue a policy of restructuring the global rules in accordance with Chinese interests. Due to this, China has influenced some significant impacts on other countries and world economy.

Globalisation is the process in which all the other nations of the planet come together to expand out exchanges and social trade. This results in a trade of different perspectives, knowledge, items and culture. Many goods and services have increased, because of worldwide trading throughout the past years. Australia is linked into the global economy due to exchanges being made between nations and technology being better than ever, as it is quicker, faster and easier to communicate with potential customers. These are just some of the reasons why Australia is linked in to the global economy.

Globalisation and the economy are two interchangeable ideas with one another. Globalisation is not a single concept since it encompasses multiple components such as economic integration; the transfer of policies across borders; the transmission of knowledge and cultural stability it is a global process (Al-Rodhan & Stoudmann, 2006). The best representation of globalisation is the process in which businesses create international influence where they can then begin to operate on a global scale (Al-Rodhan & Stoudmann, 2006). A country that succeeds in globalisation is one that will become an economic force in the world. Third world countries like Cuba have some of the worst economies in the world because of poor globalisation that is a result

Although globalization is saw as a symbol of the 21st century, the process of globalization is interrupt and challenge in 2016. The whole world is facing many dramatic changes in 2016. In fact, some of these changes may be the historic changes that have an important effect on the future. The United Kingdom’s withdrawal from the European Union, which is also known as Brexit, the victory of Donald Trump in the United States presidential election, the new Philippines’ populist president Rodrigo Duterte, who ordered the police to execute every suspect drug dealer, the rise of European populist parties, all these events are going to have great impacts on the international situation. These events can be saw as the direct results of people’s demand is changing now and people choose to use their votes to express their needs. There is a common feature which can connect these events, which is populism. Nowadays, populism gets more attention and popularity, populism is being spread around the world and it started to affect the world’s politic and economic. With no doubt, populism is having a rapid rise in European and it starts to have a more substantial influence on the world.