The Impact of Globalization on Hr Practice

6154 Words Aug 7th, 2012 25 Pages
Impact of Globalization on Human Resource Practice
Nwadei Lucky, Department of Business Administration, University of Education, Winneba Ghana
ABSTRACT
Globalization is bridging barriers of communication, culture and commerce and one major area its impact is felt is how the world is becoming one marketplace. Multinational enterprises are the actors in this process and a major emphasis in many such organizations is the practice of Human resource which has been shaped tremendously by the impact of globalization. HR practice is changing and is been changed to reflect the changing face of people management.

* Abstract

* GLOBALISATION

* Globalization defined

* Globalization – A historical perspective

* Drivers of
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More generally, knowledge about production methods, management techniques, export markets and economic policies is available at very low cost, and it represents a highly valuable resource for the developing countries.

GLOBALIZATION – A HISTORICAL PERSPECTIVE
Since the word has both technical and political meanings, different groups will have differing histories of "globalization". In general use within the field of economics and political economy, however, it is a history of increasing trade between nations based on stable institutions that allow firms in different nations to exchange goods and services with minimal friction.
The term "liberalization" came to mean the acceptance of the neoclassical economic model which is based on the unimpeded flow of goods and services between economic jurisdictions. This led to specialization of nations in exports, and the pressure to end protective tariffs and other barriers to trade. The period of the gold standard and liberalization of the 19th century is often called "The First Era of Globalization"6.
The "First Era of Globalization" is said to have broken down in stages beginning with the first World War, and then collapsing with the crisis of the gold standard in the late 1920's and early 1930's. Countries that engaged in that era
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