Effects of Globalization: Globalization and the Effects on the United States Economy

To understand the impact of globalization on human Resources you must understand what globalization is and what it does. Globalization is a “process by which the experience of everyday life, is made clear by the dissemination of goods and ideas, is becoming consistant globally. Aspects that have also added to globalization include increasingly sophisticated communications and transportation technologies and services, mass relocation along with the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries. Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages (Encyclopedia Britannica).” Globalization is a word in business that indicates the incorporation of an organization's operations, processes and strategies into various cultures, products, services and ideas. While globalization has evolved, the responsibility of human resource management should not be understated.

Introduction Globalization is an on-going process that is stimulated by the liberalization of trade and communication. While globalization has been beneficial for a lot of countries, many countries also experienced drawbacks regarding to it. Labour conditions can be seen as one of the most important drawbacks of globalization. This paper discusses various aspects regarding to labour conditions. First, the history of globalization and the three eras of globalization will be discussed.

This goal of growth in economy can be achieved through international trade, which involves many countries. Despite the obvious gap between developed and developing countries, economic globalization can manage to bring out positive results for both countries. Benefits arising from economic globalization can be shared among different organizations in various nations. When countries get involved in global trade, companies in those respective countries also benefit from such a move. Nations as well as business organizations are able to explore new markets and therefore increase their output leading to economic growth.

Another strategic method is connected with transport and communications industries, which Silver calls a “globalized network of production” (2003:6). Based on these divergences to the ‘race to bottom’ thesis, the question now is what does Silver perceived to be plausible sociological approach to the contemporary study of labor unrest? The answer to this question is directly linked the focus of this essay, which we shall now turn to explore in details. Works Cited Barma H. Naazneen and Vogel K. Steven (2008), The Political Economy Reader: Markets As Institutions (Rutledge: Taylor and Francis Group). Silver, J. Bravely (2003), Forces of Labour: Workers Movements and Globalization Since 1870 (Cambridge: University Press).

• Those businesses that are not competitive in the global village are pushed out of business or forced to fold as globalization favors firms that are strategic and can maintain their competitive advantage and exploit their strengths and opportunities. • There has been an opening of worldwide production markets and broader access to a range of a foreign products for both consumers and companies EFFECTS OF GLOBALIZATION • There has been an increase of information flows between geographically remote locations. • Globalization leads to increased competition and this competition can be related to products, service, cost and price. Technological advances have quickened lag and response times throughout all economic

Outsourcing is the transfer of a business activity or function to an external supplier, which takes main responsibility to accomplish the work. Recently, because of globalization, outsourcing becomes much more widespread than before. Some developed countries such as the United States often have outsourced jobs for developing countries like India and China. Outsourcing has two sides, like everything. People hold different viewpoints about it; some are optimistic about the future of outsourcing while others are not.

b) Dynamic Work Environment: Globalization has bought a revolution in world economy. Globalization has increased the rates of mergers and acquisition. The increase in competition between the multinational corporations across the globe has increased drastically. Work environment has changed a lot post globalization, c) Information Technology: Improvement in information technology is due to the impact of globalization. The one which has the best potential to change the shape of international management is the advancement of technology.

Globalization assists in the diminution or eradication of constraints by States in relation to exchanges across borders. Further to this, the said diminution and eradication of State border constraints kindles an increase and integration of multifaceted global systems of production. This has ultimately led to improved levels of exchange of goods and services. Thomas Friedman is of the opinion that globalization is a growing phenomenon and with that will have enormous influence in the business organization and practice just like globalized trade, outsourcing, supply chaining and political forces have had in the past (Friedman, 2008). Globalization can thus b... ... middle of paper ... ...sto.com Friedman, Thomas L. (2008).

Secondly, globalization is also believed to induce governments to deregulate labor markets to provide advantages to national and foreign investors. Government may do so, for example, by reducing employment protection, unemployment benefits and minimum wages because capital is mobile, shareholders have many options to invest, thus, strong bargaining power.Trade liberalization amplifies the firms’ bargaining power More competitions between firms and increasing trade liberalization is considered to induce race to bottom at the expenses of workers, and labor market deregulation, in particular, is often held responsible for deteriorating working conditions and well-being of workers(e.g OECD 2004, chater 2, Haberlia et al

(2010).”The Limits of Globalization in the Early Modern World”, Economic History Review, Vol. 63, No. 3, pp. 710–733. Hartungi, R. (2006) ”Could Developing Countries Take Benefit of Globalization?” International Journal of Economics.Vol.33, No.