The Impact of Management in the Globalization of Business

Decent Essays
The world of business nowadays ignited and soared globally. It’s in the context of business itself. It’s inevitable. With this, the way the management manages such globalization in business has been affected consequently. According to Tabb (2008), globalization refers to the eruption and rise of global civilization in which economic, political, environmental, and cultural proceedings in one area of the world affected another and is the result of communication, transportation, and information technology advances. On the other hand, management is “the art of getting things done through the efforts of other people” (Carpenter, Taylor, & Erdogan, 2009). Given this definition, how would the management run a business in global standards? It would serve as a guide on the possible impacts of management in the globalization of business such as the business locale, international standard issues, market and customer base, international employee rates, increase in global competition and opportunities, and establishment of a network of global contacts and partners. Simply, business globalization gave rise to the foreign ventures of “multinational corporations”. However, it brought up both benefits and undesirable effects and utmost responsibilities.
Robert Lipsey (2014) pointed out that he is “interested in whether foreign investments by multinational firms do what opponents of globalization claim they do: that is, lead to unemployment and reduced exports in the company's home country
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