Three Globalization Business Challenges
Cozetta Simms
Bellevue University
Globalization has been on the rise since the 1970’s when the creation of steel transport containers made trading goods easier and cheaper for traders across continents. Since the 1970’s trade has been a huge staple in the American marketplace and has increased the economy of America more than 50%. Although, globalization has been profitable for some businesses, the challenges that companies face with globalization have threatened to impact the global trade market. In this paper we will pinpoint three specific challenges some businesses may face with globalization. We will discuss the impact of culture, societal perception and communication technologies
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The article entitled Three Challenges for Communication and Global Social Change explores three challenges in global communication; the fragmentation of the field, the paucity of research on policy advocacy, and the links between participation and aid effectiveness. This article gives us an in depth look at how these issues impact the social aspects of business and what can be done to address them. In an article by Ian Bremmer (2015), Bremmer briefly discusses the challenges faced by what he refers to as “The underdog countries.” Apparently, those at the top are forcing the weaker areas to concede and over powering the countries …show more content…
Effective communication routes are needed in order to keep a business running; otherwise the threat of failure becomes a dangerous reality. Akinbile and Oni touch on the topic of technology as it relates to Nigeria in their Meta-analysis titled Assessments of the challenges and benefits of communication technology on the construction industry in Oyo State Nigeria. The issue facing Oyo State is the lack of and expense of informational communication technology in everyday business. The lack of stable power, the absence of people with knowledge to maintain technology systems (BEATTY, 2015) and lack of informational communication technology itself, plays a major role in an underdeveloped countries ability to create and maintain a foundation of communication. The meta-analysis concluded information communication technologies would benefit Nigeria’s markets by way of productivity, knowledge and improve business relations
Wild, J. J., Wild, K. L., & Han, J. C. (2008). (CH2)Cross-Cultural Business and (CH5)International Trade,. International business: the challenges of globalization (4th ed., pp. 48, 61-62, 132, 136, 147). Upper Saddle River, N.J.: Pearson Prentice Hall.
Evolving communications technology has changed the way business personnel communicate within an organization. The use of technology allows companies to be more dynamic and adaptive to changes by allowing instantaneous communications via interconnected computer networks. This dependency on information and communications technology has evolved these emerging technologies as crucial tools for providing operational support to business communications tasks (Wilkinson, 2006). Remaining competitive is a primary goal of organizations and effective communications help companies achieve this goal. Competency in communications is considered the root of success for many activities including planning, organizing, team work, and leadership (Waldeck, Durante, Helmuth, & Marcia, 2012).
There are many effects of culture and conducting business in a global marketplace. As discussed in the article I chose to review, “Companies Don’t Go Global, People Do”: An Interview with Andy Molinsky”
Edward T. Hall thoroughly examines the many situations and their influences that we face every day in our lives in “The Silent Language”. He clearly explains how these influences have strong impact on our development, our relationships in todays’ global economy. Hall mentions how the American business people were inexperienced and unfamiliar with the rest of people of other countries. The author strongly feels that one should cross the cultural gap between two participating countries in order to achieve the success in a global economy. The author tries to describe five aspects that are responsible for disastrous results that lead to any country to fail in international business if a firm is not aware about it. They are:
The Millennium report advocated that the greatest challenge we face today is to ensure that globalization becomes a positive force for the entire world's people, instead of leaving billions of them behind in foulness. Inclusive globalization must be built on the great enabling force of the market, but market forces alone will not achieve it. It requires a broader effort to create a shared future, based upon our common humanity in all its diversity. Today the most significant changes in the world economy over the past decades are the upsurge in globalization of markets and industries. There are numerous forces that have greatly contributed to the rise of globalization, factors such as reductions in multilateral and regional trade barriers, mergers and acquisition that enhance assess to new markets and competition. Globalization can be claimed to have major and crucial positive implication on the businesses today.
In today’s business market leaders are face with diversity in there follower and who they do business with on a global scale. It is more and more obvious that products in a store are marked from a plethora of countries not just made in the country of origin from where you are from due to emerging markets. This interconnected production of products can be designed in one country and engineered in another as well as manufactured in several regions then sent to be assembled in yet another. Foreign trading and exporting is becoming the status-quo, to flourish in a competitive market, with rapid industrial growth around the world in developing countries. Opening up opportunities for growth as well as increasing the
The general public and policymakers have mistakenly perceived an exaggerated view of globalization throughout the years. The greatest misconception among many about globalization is the overestimation of its impact on the U.S economy. Globalization is the method a company uses to diffuse internationally benefiting from the free flow of exports and imports within different countries. According to Ghemawat’s article “Globalization in the Age of Trump”, globalization has been the culprit for major financial events and trade wars, while maintaining a steady rate throughout the years. Globalization is expected to continue advancing despite President Trump’s attempts to enforce localization by generating a trade war with foreign nations.
Communication is the most important part of construction. There wouldn’t be projects to complete if there was not communication between the contractor and client. Means of communication vary greatly. Communication is achieved through electronic mail, mobile phones, and pagers. Mobile phones are perhaps the most important part of communication. Mobile phones allow contact between construction crews, owners, clients, and suppliers. Communication between builder (boss) and foreman is critical to ensure that deadlines, and specific tasks are being met. Communication is an essential ingredient in the construction business.
In explaining the world in which we find ourselves today, globalisation has come to remain as the term of reference—it is the defining terms in contemporary society . In technical sense it is viewed as an “increase in cross-border economic interaction and resource flows, producing a qualitative shift in the relations between national economies and between national states”. This in abstract is what we currently experience as the global order of our time. Though the contributions of globalisation are remarkable and reflect to an extent positive impacts on the day to day activities of people, it as well comes with its consequential effects, thereby leaving its remnants on the quality of livelihood and the increasing gaps of inequalities that
Effective communication abroad can be difficult to achieve because of the lack of understanding between different cultures. But there are many companies out there who are effectively promoting their products in multiple countries. So, how do they do it? To be able to communicate abroad takes excellent leadership skills from multiple parties.
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
Globalization remains a pivotal topic in many schools of thought, and continues being a topic of controversy even in local economies today. Perhaps the reason for this is integration and competitiveness the world over. Conceivably, even more than integration, is the competitiveness of organizations, has possibly facilitating the fascination and misconception about of globalization. Nevertheless, globalization has brought about a number of effects influencing the design and geographical location of the organization. However, globalization has effectively placed the world in a bubble, or maybe one could equate the changes to being placed in an envelope.
Fort Branch is a small town in Southern Indiana. In 2013, there were 2,799 people who resided in this rural community, and I suspect that this number has only increased slightly in the last three years. There are many corn fields and a lot of hard working citizens, especially farmers, who love their community. I am the assistant to the mayor, and I have an expertise in language, communications and technology, and the increase of Americanization in regards to globalization. The mayor has asked me to read Globalization- A Reader for Writers by Maria Jerskey, and I chose five articles to discuss. Within those five articles, I have recognized four topics that should be considered when establishing guidelines for globalization in our community.
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
People in the present society have turned from the use of the old means of communication to the more advanced and technological ways of communicating. Technology has made it easier for people to communicate in a faster, efficient, and cost saving means through the introduction of the communication channels. The world has turned out to be the centre for technology with different technologies emerging daily as the people continue to develop from time to time to cope with the growing technology. The benefits of adopting the communication technology are explained in this article which shows why people do not function without technology.