The debate about globalization is ongoing in America and other countries. But th

Question

The debate about globalization is ongoing in America and other countries. But the reality is that we live in a very global economy. Studying business is no longer about whether a company wants to import/export. Growing companies are looking for customers, employees and suppliers all over the world. Technology is making this even easier. Employees can program code for Sony and Microsoft from anywhere in the world. The decline in the economy is global. Companies are looking for resources that add value and profit. The debate continues as we struggle with the economy. The question is how will YOU compete in the global economy? How will the global economy affect your career plans and the companies that you will work for? What should you do right now to prepare for the future? How will globalization impact businesses? Marketing? Management? Finance? Accounting? Human Resources?

Explanation / Answer

The debate of globalization is not only limited to the export/import. World is again moving towards the era of protectionism. This in the very first hand will effect business, import export but also the movement of human resource in the long run. US has recently put remarkable trade barriers on imports of goods as well as on the side H-1B Visa is an example of restricting human resource in their state from outside world. Recently, Saudi Arabia has also came with a policy to reserve some jobs especially high quality jobs for their own nationals. All such policies are done with the objective to save their economy from the outside competition. This will really a hit to globalization. This has impacted the business and jobs. People looking for job opportunities are facing problem and there is no single answer solution to this probe. It depends on the state policy and sometimes the competitiveness of the person seeking for the opportunity. Globalization has severally impacted the marketing, financial Management, Human resource Management, etc. We have seen that business after globalization was not as they were before. Huge competition from international firms make local companies to understand the value of change and improvement. Marketing has totally changed and is done across borders. Companies do have offices in different countries, hire people from different nations. Financial and Accounting management has changed because of involvement of different countries set of standards. Human Resource Management has become more difficult because of different labour and wage, business policies. Globalization has altogether changed the business operations.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.