Globalization and Diversity in the Workplace

667 Words2 Pages

With the advent of the Internet, decreased shipping costs, and the removal of trade barriers, the world market has shrunk in such a way that everyone can be a player. While many businesses thrive solely on serving a small local area, a globalized company has the benefits of increased customer markets, gross production, and brand awareness. Take for example Coca-Cola; this multi-national corporation offers products in countries all over the world, operates in over 200 of those countries with the help of its franchisees, and is the most well-known beverage companies. It is interesting to note however, that as positive as globalization may seem, there are many negative ramifications and a large population of detractors to this movement. While increased product availability is good for profits, if a local market is inundated with imported products, locally grown or manufactured items may be squeezed out, to the detriment of the local economy. Although it is cost effective to have your product produced in another country with low wages, you are essentially taking away jobs from the people of your own country, negatively impacting your national economy. However, if you manufacture your products in a country with higher wages, you must increase your products’ prices which may be harmful to your profits. While maximizing your companies profits is always of great importance, it is essential that you weigh the pros and cons of globalization and its effects on not only your company, but the areas in which you wish to spread. Diversity is a highly important issue in today’s business, especially in a globalized company. Workplace diversity helps to get better solutions to business problems (Schawbel, 2012). When you have a group of individ... ... middle of paper ... ...014, from YouTube Web Site: Schawbel, D (2012, Nov, 8). Why Diversity Matters in the Workplace. retrieved May 6 2014, from American Express Web Site: Diversity & inclusion: unlocking global Potential Global Diversity Rankings by Country, Sector and Occupation. (2012). retrieved May 7, 2014, from Forbes Web Site: Pohle, G (2008, Feb, 12) IBM Study: Corporate Social Responsibility. retrieved May 6 2014, from YouTube Web Site: Beschorner, T (2012, Sep 30). What is Corporate Social Responsibility (CSR)?. retrieved May 6, 2014, from YouTube Web Site:

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