People and Organisations: Principles and Practice in Global Context. Lecture 8. The Global Context for HRM

How it impacted the world globalization.


In the modern business world, the concept of globalization become very popular and it invaded the mind and the soul of every organization. Globalization helps to improve the sales and profits of the organization and it's expanding the boundaries of top line and bottom lines. Globalization is the way of becoming a smaller community in the global business by eliminating the virtual boundaries. Although the world is becoming more complex than the last decades, it has become a small village with free flow of technology and human resource across the boundaries of the nation presenting a rapidly changing and increasing competitive environment (Andrew, 2016).
Globalization is the free movements of labour, capital, goods and services around the world. This globalization being done by most of the big commercial companies, which are having the most powerful control of the world economy and the superpower economies. This globalization take place for purely economic gains. Companies seeking to take advantage of lower wages and large unskilled labour force. When it comes to the footwear industry, the Reebok and Nike, regularly shift their manufacturing base from countries to countries with lower wage scale (Kibin, 2019).

there are five aspects of globalization
  • Economical aspect
  • Technology aspect
  • Political aspect
  • Cultural aspect
  • Environment aspect

Economical aspect of globalization greatly encouraged by the second world war. It introduced free trade agreements. The agreements have also been developed further and which included the European Comunity and North American FreeTrade Agreement (NAFTA).

The technology aspect of globalization resulted in massive improvements in communication. Faxes, email and internet are some of the examples for technological aspects of globalization. These improvements resulted in the world, becoming a smaller place as world-wide interaction is quick and easy

Culturally, following the second world war, Americans wanted to dominate the world. They have seen that communism rises fearing Americans. Americans done the cultural globalization by spreading media films which were capitalised the American dream.

Environment aspect of globalization resulted in the world has come to save the earth by reducing global warming, deforesting, Greenhouse effect, saving the clean air and water pollution. 

Globalization has given more benefits to the world. but at the same time, there were some negative effects came up with it too. Terrorism, Job insecurity, currency fluctuation and price instability are the most negative impact due to globalization.




References.
  • Andrew, R. A., (2016). 14 Current Trends in Human Resource Management. [Online] Available at https://www.linkedin.com/pulse/15-current-trends-human-resource-management rutaihwa-Aristides-Andrew 
  • Kibin, (2019). Positive and Negative Impact of the Five Aspects of Globalization | Kibin. [Online]
    Available at: https://www.kibin.com/essay-examples/positive-and-negative-impact-of-the-five-aspects-of-globalization-bpvWa9RC
    [Accessed 12 10 2019].








Comments

  1. JinendranOctober 12, 2019 at 9:27 AM

    Good article Achala to understand the impacts of globalization. As you mentioned the free agreements provided many benefits to the country providing jobs and infrastructure facilities and as you mentioned there disadvantages also we have witnessing it in present context. Thanks for sharing.

    ReplyDelete
  2. NamilaOctober 12, 2019 at 9:31 AM

    there are five aspects of globalization
    Economical aspect
    Technology aspect
    Political aspect
    Cultural aspect
    Environment aspect

    Thanks for sharing your knowledge.

    ReplyDelete
  3. Isuru EkanayakeOctober 12, 2019 at 9:36 AM

    Organizations need to have good idea about the above 5 factors in order to face the challengers of globalization.Good argument Achala.

    ReplyDelete
  4. Upendra BatagallaOctober 12, 2019 at 9:36 AM

    Interesting topic to discuss Achala. Good choice . Global competition can encourage creativity and innovation, helping companies to stay one step ahead of competitors. This drive toward quality and price can improve products and keeps costs low. The free movement of labor and capital means that ideas from developing nations can drive innovation around the world. Thanks for sharing .

    ReplyDelete
  5. Nethra LiyanageOctober 12, 2019 at 9:39 AM

    Good article Achala. Globalisation provides trade opportunities.The globalisation of business processes and etiquette opens up new new opportunities for counties to import and export products and services.

    ReplyDelete
  6. VenuraOctober 12, 2019 at 9:48 AM

    It is very important for an organization to make changes within the organization according to new global trends.It is very crucial to survive in the fast moving global business environment. Thanks for sharing this...

    ReplyDelete
  7. Jehan RahimanOctober 12, 2019 at 9:50 AM

    Nicely presented Achala. My personal opinion is that technology is the most important factor that drives the globalization. Without technology it is difficult to connect with each other to get goods and services as a global village.

    ReplyDelete
  8. Sanka ThilakarathneOctober 12, 2019 at 9:57 AM

    Nicely explained effects on globalization and flow from the history. Thanks for sharing

    ReplyDelete
  9. Malintha GannileOctober 12, 2019 at 4:13 PM

    Environment aspect of globalization resulted in the world has come to save the earth by reducing global warming, deforesting, Greenhouse effect, saving the clean air and water pollution. Nicely explained, Thanks for sharing this

    ReplyDelete
  10. Anupama KankanamgeOctober 12, 2019 at 6:28 PM

    Good discussion on good and bad impact in globalization. Interesting to read.

    ReplyDelete
  11. KasunMBAOctober 13, 2019 at 6:00 AM

    Countries like us find difficulties on trading with developed countries.There are good and bad in globalization,but still you have lot of opportunities in same atmosphere.

    ReplyDelete
  12. KasunMBAOctober 13, 2019 at 6:01 AM

    Countries like us find difficulties on trading with developed countries.There are good and bad in globalization,but still you have lot of opportunities in same atmosphere.

    ReplyDelete

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