The Challenges of Globalization: Best Practices and the Correct Approach to Cross-Cultural Understanding and Cooperation

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Globalization Introduction A great deal of research and reporting has gone into the emerging international movement known as globalization and the business ramifications of globalization has been reviewed and analyzed as the main focus of globalization. But management's pivotal need to develop smart strategies for the cross-cultural relationships that are inevitable vis-à-vis globalization has perhaps not been sufficiently explored in the literature. This paper focuses on how corporations, businesses and other organizations are going about or should be going about the correct approach to cross-cultural understanding and cooperation when it comes to globalization. A portion of this paper also will serve as a design using best practices in terms of meeting the challenges that globalization presents vis-à-vis cultural diversity. Consequences of Globalization on Cultural Differences Writing in the peer-reviewed International Journal of Business Insights & Transformation, Professor Erzebet Malota (University of Budapest) points out that studies on globalization zero in on the economic and political aspects of globalization. And yet, Malota asserts, the "cultural consequences" resulting from globalization have not received the attention those issues truly deserve (Malota, 2010, 94). And while Malota acknowledges that there are other issues pertaining to globalization that also deserve more attention than they are currently receiving including the environmental impacts, the

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