Essay : Globalization Assignment Help
Write an Essay on "What advantages and disadavantages does globalization bring to contemporary organizations?" Use atleast one real life corporate example.
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With the increase in competition, companies are incorporating globalization by expanding their manufacturing, management, and sales division in different nations. Particularly, the contemporary organization like Ford Motors are using the globalization. The increasing interdependence of companies over national economies has increased the concept of globalization. Globalization holds both positive and negative impacts on society and therefore it should be used judicially (Smith, & Clinton, 2016).
Globalization has several benefits to the present generation's contemporary business structure. First of all, globalization offers the organization to select from a wider talent pool. Organizations are no longer restricted to select talent in terms of geographic location or nationality. However, globalization does not mean the physical presence of the workplace or employees in a foreign location, instead, they can also get connected through the internet and exchange ideas and information (Agergaard, 2016). With globalization, organizational also experience an increasingly diverse workplace. The diversity is observed mainly in terms of culture, language, ethnicity, and religion. For instance, under these differences Ford Motors allow the employees to follow different rituals according to different cultures, which in turn generates respect for each other. Each employee is able to enhance their knowledge, insights, and perspective about their co-workers. It improves the living standard of people in developing nations. Globalization improves the living standard such as health, safety, education and welfare of employees working in that organization. Companies working with foreign companies comply with their regulatory requirements, which will eventually improve their workplace policy in their home country. As per the report of the World Bank, since 1990 the extreme level of poverty has been minimized by 35% through globalization (Smith et al, 2016). Moreover, the countries following contemporary organizational structure along with globalization are able to achieve the first millennium development goal target of minimizing the poverty rate of 1990 by half (Zuzeviciute, Praneviciene, & Ruibyte, 2017). In this context, approximately 1.1 billion people are taken out of the extreme poverty line (Zuzeviciute et al, 2017). In addition to this, unlike the traditional organizational structure, contemporary organizations are able to incorporate huge technological improvement without any form of difficulty. A globalized organization is able to break down trade barriers through communicating, sharing knowledge, and collaborating business with other nations. Besides, globalization also offers openness in trade, which creates a wider and better opportunity for the company to maximize the economic, gain different specialization, and expand the target market (Smith et al, 2016). With the expansion in the market, there exists global economic growth and an increase in job opportunities. With more competitive companies on a global basis, customers are also able to get products or services at a lower price (Hanson, Hitt, Ireland, & Hoskisson, 2016). The global competition within companies also motivates employees to reveal their creativity and innovation to stay ahead of their competitors. This form of global competition will help in improving quality and thereby keeping costs low. There will be free movement of labour and resources from the developing countries for remaining ahead of the competition. Globalization also makes it easy to get funds on the basis of an idea for a company in an underdeveloped nation (Hanson et al, 2016). Globalization facilitates the free flow of communication, where new entrepreneurs are able to make a difference within the industry on the local and international market.
Globalization has some downsides as well for contemporary organizations. Globalization has been most of the time blamed for the loss of millions of jobs worldwide. In particular, workers related to middle-wage, and average skills like assembly line workers, managers and secretaries have to lose their job in the home country due to the outsourcing of the workforce (Krasnik, Bhopal, Gruer, & Kumanyika, 2018). The outsourcing of jobs is particularly conducted in the regionshaving a low wage rate. Apart from this, local labourers are also replaced by technology which is advancing rapidly. Therefore, companies prefer to keep the higher paid and lower paid job and the in-between workers are completely hollowed out (Krasnik et al, 2018). Furthermore, when companies are outsourcing workers, then there exists a risk for local workers to get a decreased salary to sustain their job. Especially, the workers in developed nations are highly affected by reduced salaries through globalization. In addition to this, most of the expatriates have accused exploitation and unsafe working conditions in the foreign workplace, particularly in underdeveloped and developing nations (Zuzeviciute et al, 2017). They are often alleged of unfair, unsafe work practices, along with depleting natural resources. Globalization is also considered as the major reason for economic inequality where 20 percent of the richest population of the world consumes almost 86 percent of total resources (Krasnik et al, 2018). Besides this, there also exists the risk of potential intellectual property (IP) theft for the contemporary organization. In this context, companies having manufacturing factories overseas on behalf of other companies, then there exists a threat for stealing or copying intellectual property and designs, and selling it elsewhere at a cheaper price. There also exist problems in internal communication due to changes in time zone and language across different nations. Sometimes, the workforces are not online to receive the message or reply to the other party at a different time zone (Hanson et al, 2016). Finally, globalization is also responsible for the loss of cultural identity as it has made easy access to the foreign culture. The foreign culture has melded with the local culture, and thereby losing the essence and identity of local culture and lifestyle.
In conclusion, it can be summarized that although globalisation is effective in enhancing the economy of developing and developed nations, while at the same time it is also a threat to the nation. Therefore, it is recommended that contemporary companies should consider all legal aspects such as employee standard laws while hiring employees overseas. Companies should regularly monitor overseas to minimise the risk of design or IP threat. Moreover, there should be a global governance bodythat can control and balance the market and workforce in a uniform manner throughout the globe.
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