The impact of management in the Globalization of Business

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The markets and economies of the world are being absorbed by globalization. Countries around the world involve in international trade are making tremendous profits thanks to significant changes made in term of technologies, communications, traffic infrastructure and management. Nowadays, there are no barriers on what the multinational corporation can do in business, hence, this essay will argue the impact of management in the globalization of business by including some key factors such as, culture shock, fair trade issues, managerial culture of selected country and ethical issues face by managers while dealing with international business.
Multinational corporations are companies that have large power of productions of goods and services which they can provide in different part of the globe. In order to maximize their profits the multinational corporation operates their productions of goods or services in other countries that fosters cheap labor and minimum wage. Due to the globalization of business and expansion of the world markets, management is subject to some modifications such as; managers who work abroad are now required to have the necessary skills and knowledge in international business in order to properly deal with staffs, customers and management queries. While traveling in foreign country managers are often affected by what is called the culture shock. Culture shock happens when managers travel to new countries for work and they find themselves living in environments completely different to what they are used to, the behaviors, the daily life, the perspectives and way of thinking are new and it is often difficult for them to adapt. Culture shock often results in the managers feeling isolated and suffers from anxiety.
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...ects of globalization on business. Online Article retrieved on April 14, 2014 from: http://www.ukessays.co.uk/essays/management/effects-of-globalization-on-business-management.php Kathrin, T. (2011). Working abroad: how to get over the culture shock. Retrieved online on April 14, 2014 from: http://bookboon.com/blog/2011/10/working-abroad-how-to-get-over-the-culture-shock/ Anup, S. (2000) Fare trade. Global issues: online article retrieved on April 14, 2014 from: http://www.globalissues.org/issue/61/fair-trade
Edwin, C. (2013). Fair Trade and its impact on impoverished nations, Retrieve online from: http://mercurynewsonline.hubpages.com/hub/Fair-Trade-Good-or-Bad-to-Poor-Nations The Journal of Business Ethics, (2011). Ethical objections to fair trade. Retrieved on April, 15 from:
http://www.griffithsspeaker.com/Fairtrade/Ethical%20Objections%20to%20Fairtrade%20web.pdf

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