Organizations in global environment

Question : Discuss about the Management and Organizations in Global Environment ? Answer: Introduction Globalization is concerned with the international integration of products, world views, ideas and the other pre-requisites of culture (Hirst Thompson and Bromley 2015). The primary factors of globalization include advancement in the transportation as well as advancement in the telecommunications. The advancement of these two factors has led to dissolving of the international boundaries. This would lead to additional interdependence on the cultural as well as economic activities. The globalization is concerned with the widening as well as growth of the interconnectedness of the international forces. The concept of globalization is actually related to geographic boundaries in which it is important to consider the space, time and place of the countries (Beck 2015). In globalization, there is technological flow of people and other resources for the benefit of the organizations and the people. There have been several debates regarding the success of globalization. It is argued that there are sufficient doubts regarding the actual reality of globalization (Hirst Thompson and Bromley 2015). Many argue that globalization has actually not led to shrinking world and there are certain barriers that prevent the businesses from doing cross border trade. It is also said that the international borders are still difficult to overcome for few multinational corporations. Globalization is concerned with interconnected and interdependent world in which there is free transfer of services, goods and capital (Beck 2015). However, there are economists, who argue that the free movement of goods, doesnt always correspond to free movement of labor. There are issues with recruitment, transfer and retention of the overseas employees. The global trade is suffering from synchronized collapse which has taken place gradually (Beck 2015). The economists believe that the primary cause of this collapse is the inability to achieve international stability. The international instability has been represented by the terrorist attack in the World Trade Center and the lack of preparedness from the concerned authorities to combat against such adversities (Beck 2015). Another example from the recent times is the international credit crisis during the year 2007-2008 when the international financial system failed. The globalization also impacts the international trade as well as the foreign direct investment. The globalization can also be used to combat with the ever-increasing issue of poverty, especially in developing countries. The poverty-stricken people often find it difficult to convey their condition to the world leaders as they fear that the act of doing so might further deteriorate their situation (Beck 2015). It is argued that the growth of exports and the incoming foreign direct investment is responsible for reducing poverty. However, the currency fluctuations, pose a threat to the issue of poverty. Globalization can be a gain for some sections of the population while it can be a loss for other sections of the population. This report would focus on the issue of the effectiveness of globalization and whether the phenomenon has actually affected the world. The reasons behind the extreme demonstrations in the G7 and WTC conferences concerning globalization are discussed. The phenomenon of globalization is analyzed through the help of Pankaj Ghemawats tools. A special focus has been laid on Anthony Giddens ideas concerning globalization. The report would also discuss about the consequences of globalization on poverty alleviation. The purpose of the report is to build a globalized world in which there are sufficient measures against poverty. Discussion,Globalization The interconnections between the nations of different geographical locations located all over the world are the crux of globalization. It also refers to the integration of different markets in the global economy (Head and Mayer 2013). There are specific areas in which the globalization can be analyzed well such as financial markets, commodity markets and others. The globalization can be assessed by the help of credit markets, capital markets and other product markets. There are four intrinsic parameters of globalization such as capital as well as investment options, trade as well as transactions, dissemination of knowledge and migration (Baylis Smith and Owens 2013). The globalization also presents environmental challenges such as air pollution, global warming, overfishing and water pollution. There are broadly three areas of globalization such as cultural globalization, economic globalization and political globalization (Naumis and Phillips 2012). The cultural globalization is conce rned with the transmission of values, meanings and ideas from one community to the other with an intention of enhancing the social relations. It is usually characterized by the common cultural consumption such as popular culture media, language, internet and international travel (Head and Mayer 2013). It is the basis of shared knowledge and norms which are perceived by diverse cultural identities. The economic globalization is concerned with the international exchange of regional, local and national economies all over the world. It comprises of the financial matters exchange across the geographical boundaries (Baylis Smith and Owens 2013). The political globalization is concerned with the growth of the political system all over the world by considering the complexity and the size. This system is inclusive of the national government and the inter-government of different countries. There are several reasons for increased globalization globally. There are developments in the transport, ICT and communications which have catalyzed the advent of globalization (Hay and Marsh 2016). The increased use of the internet has fostered high penetration of globalization. The increased mobility has also fostered the advent of globalization. The development of complicated financial systems like derivatives has fostered the growth of credit market (Baylis Smith and Owens 2013). There has been increasing free trade in the world which there is considerable fall in the communism (Mavrofides and Papageorgiou 2013). The trade openness has increased in the last couple of years and there has been significant growth in the emerging countries. There has been tremendous growth in the multinational companies such as Sony, KFC, Microsoft and others which have contributed significantly to the emergence of globalization (Korten 2015). The globalization has been affected by the global financial crisis to a great extent. There have been changes in the world GDP (Blonigen and Piger 2014). There have also been movement of the integrated capital markets all along the globe. There has been a rise in the foreign direct investment from 7% of GDP to 32% in the year 2015 (Ajami et al. 2014). There was also a rise in the international claims. However, during the global financial crisis during 2007, there was a sharp fall of the stock prices (Blonigen and Piger 2014). This caused large financial institutions to run in losses. The financial system crashed and the whole world suffered due to this phenomenon (Chor and Manova 2012). This phenomenon raised several questions on globalization, which was earlier supposed to mitigate risks. Instead, the globalization was a medium which spread the economic downturn all over the world (Blonigen and Piger 2014). There has been minimal financial liberation which caused the whole world to suffer. The developing countries are exposed to an increased risk of acute financial crisis if there is an increase in globalization (Chor and Manova 2012). This is because the economic crisis in one part of the world can easily percolate in other regions of the world, especially in an interconnected world. This is the reason why experts opine that the financial integration should be dealt with caution. It is proved that there has been greater co-operation between the nations and there has been dilution of the international trade barriers. Analysis of impact of globalization The globalization can be referred as the technological advancements that has made it easier to engage in international transactions in terms of both financial flows as well as trade flows (Lane 2013). There have been sufficient data available that demonstrates that capital as well as goods have become more globalized. The trade value has increased from 42.1 percent to 64.1 percent in 2010. The foreign direct investment has also seen an increase from 6.5 percent to 33.7 percent in the year 2010 (Imf.org 2016). There has also been a sharp increase in the number of cross border telephone calls (Lane 2013). The world economy has witnessed a steady increase in the number of foreign workers in the year 2015 (Lane 2013). This proliferation of the global market has improved the efficiency as well as greater division of labor. This has allowed the economies as well as the people to do choose their best course of action. The global markets do offer a highly-diversified market all around the wo rld (Imf.org 2016). The globalization also enables the percolation of innovative ideas from one region to the other. For example, the business entities can refer to the successful ideas that have been implemented in one part of the world and design their business policies accordingly. The people from the developing country is able to reach to the developed nations for seeking help when required. One of the key components of globalization is the expansion of the world trade as there is subsequent reduction in the barriers of trade such as tariffs on imports (Imf.org 2016). There has been greater imports post globalization, which presents the consumers with a wide variety of goods at subsequently low prices (Gray 2015). This has also provided the developing countries to provide strong incentives for the industries to be competitive (Imf.org 2016). The globalization has made the developing countries to depend on their exports for fostering economic growth (Lane 2013). They enhance not only economic growth but also create job opportunities. Trade has enhanced the national competitiveness as the workers are able to focus on their skills in order to gain competitive advantage (Sandbrook and Gven 2014). The world trade has promoted resilience as well as flexibility and there is subsequent risk aversion which creates the domestic economy from supply shocks (Lane 2013). The developin g countries are able to benefit from the expansion in the international trade. The poor nations have significantly able to fight against poverty (Wagner and Hollenbeck 2014). This has been achieved by greater production in the export markets and the opening of the economy to foreign goods as well as technology.Effects of global financial markets There has been significant rise in the globalization in the past few years. There have been increase in the global capital flows as well gross domestic products (Lane 2013). The developed economies have demonstrated the maximum increase which has been closely followed by the emerging economies (Imf.org 2016). The financial capabilities have improved in 2006, which is presented as follows- Fig: Economic condition in 1990 Source: Imf.org 2016 Fig: Economic growth in 2006 Source: Imf.org 2016 The countries have successfully made their capital markets strong which have attracted more capital for investments (Banerjee and Duflo 2012). It has led to judicial allocation of capital along with the international risk sharing. However, there is growing debate regarding the impact of the financial globalization (Christensen and Raynor 2013). Apart from the positive sides of financial globalization, it is often argued that it leads to the volatility of economy, especially for the developing countries (Christensen and Raynor 2013). The research demonstrates that the countries need to carefully assess the risks as well as benefits of the capital flows (Sassen 2015). In the developing economies, there are some factors which affect the growth of the financial globalization (Christensen and Raynor 2013). These factors include well defined financial sectors, good macro environmental policies, trade openness and others. The emerging countries should consider the associate costs that lead to the capital flows (Raza et al. 2014). There can be number of associated costs such as high investment costs, poor economic incentives, additional monitoring costs and lower international trade (Christensen and Raynor 2013). The encouragement of the changes in the domestic economic sector can open up the avenues for foreign investment which can eliminate the distortions (Ferrero 2015). The organizations have started focusing on the capital account liberalization which would influence the macroeconomic policy framework of the country. The long-term debts such as FDI must be focused on the creation of short term inflows.Concept of shrinking world The concept of the shrinking world is concerned with the technological advancements that facilitate commerce and communication (Rodrik 2014). It is not possible to understand the impact of globalization unless the regulations are being followed. This provides confidence to engage in the business transactions. Experts opine that the world is shrinking to a certain extent, which is influenced by certain external factors (Rodrik 2014). However, it is true that the world has become smaller through the improvement of various facilities including connectivity and accessibility (Rosenberg 2014). It is true that the distance between the countries is the same however, there have been improvements in technology that makes them to connect easily (Rodrik 2014). The globalization has led to greater prosperity of the world. Reasons behind G7 and WTC demonstrations The G7 is a group of seven countries consisting of France, Canada, Italy, Germany, United Kingdom, Japan and United States (Hite and Chorev 2014). The G7 countries also comprises of the European Union. The G7 countries comprise of more than 64% of the global wealth (Imf.org 2016). The leaders of G7 countries aim to address the challenges that lead to proliferation of the world economy. The G7 and the WTC conferences have recently demonstrated extreme intolerance to globalizations. The G7 held in 2015, witnessed massive demonstrations against globalization (Wanna Lindquist and de Vries 2015). The protest was mainly targeted at the increasing instances of a borderless world which have posed several issues for the emerging countries. There were several topics that were discussed in the summit such as global health fund, food security, digital divide and others. The demonstrators mainly blamed globalization for increased plight of the people residing all over the world (Peace 2015). There is opposition of the capitalist globalization. The primary aim of the corporate globalization is the reduction of the corporate power as well as reduces the global inequality (Taylor et al. 2015). It aims to reduce the social injustice gap in the world. This movement was decentralized and was opposed to the social hierarchy. The conferences displayed a spreading movement of anti-globalization (Korten 2015). This has attracted the attention of thousands of anti-globalization activists. They have raised their voices against corporate power of the multinational organizations (Robb 2013). The irrational use of corporate power by the multinational organizations is the focal activity of the protests. There are widespread practices concerning the international organizations such as labor wages, working conditions, living conditions and the lack of concern towards environment (Hite and Chorev 2014). There is a growing mismanagement concerning the ecological damage to natural resources (Benn Dunphy and Griffiths 2014). These kinds of protests have gained supporters from all over the world. It is true that the business practices of the multinational companies have been successful, however, they cannot deny with the charges against globalization. It is rightly said that owing to the large cultural diversity of the world, it is not possible to bring all parts of the world together (Pieterse 2015). The development of a universal culture is not a feasible option. In fact, a range of factors have evolved, which showcase the negative aspects of globalization. The term anti-globalization can include a wide range of topics such as third world debt, child labor, animal rights, anti-capitalism and environmentalism. The anti-globalization has caused the merging of the individual economies and also the developing countries have lost their individual country. The emerging countries have started to adapt the western cultures in a manner which have diminished their purpose of existence (Benn Dunphy and Griffiths 2014). A large number of money is flowing outside the domestic countries and this is one of the primary causes of the protests against globalization. The increased globalization has made people to use the products of the foreign companies, which have resulted in greater outflow of capital (Pieterse 2015). The income generated from the product sales in the developing countries drains out to the western countries which has led to increased poverty in these regions. Instead of national development, the multinational organizations are taking a way the national wealth of the countries (Benn Dunphy and Griffiths 2014). This is causing the indigenous companies to run in losses and thereby the issue of poverty is still persisting in the emerging economies. There are several causes of the widespread protests against globalization. The primary issue with globalization is the increasing exploitation of the workers in the developing economies of the world. The multinational companies are increasingly exploiting the labors of the developing countries in order to get their work done (Pieterse 2015). The multinational companies are increasingly becoming less accountable for their job functions. Experts claim that the individual cultures of the country become overpowered by the American culture. This has increased to growing protests against the multinational companies. There are reduced demands of the domestic products as compared to the foreign products (Taylor et al. 2015). This has caused a dearth of resources for the country. This has in turn affected the national progress of the third world economies. Pankaj Ghemawat views on globalization Pankaj Ghemawat has raised several questions regarding the phenomenon of globalization. He made important arguments in the World 3.0 and has said that the world is less globalized than the world perceives it (Ghemawat 2016). He argues that the world not fully integrated and there are interesting things that taking place across the borders. He shared interesting insights regarding globalization by citing examples of international phone calls, foreign direct investments and social media usage (Ghemawat 2016). He found that the actual international phone call minutes is 2% (Ghemawat 2016). This is evident from the international authentic sources. The trade statistics shows that the world export rate accounts for 30% of GDP, however, he points out that there is utter doubt regarding this calculation (Ghemawat 2016). For example, the iPhone which is shipped to India to China and then shipped back to United States gets counted twice. There is an irrational increase of the GDP by this metho d. He even confirmed the rate of GDP from a trusted source at the World Trade Organization (Ghemawat 2016). The source said that the exports account for only 20% of GDP rather than 30% as claimed by the trade sources (Ghemawat 2016). There have also manipulations regarding the data on foreign direct investments. Mr. Ghemawat agrees that the percentage of foreign students availing educational courses at a country other than the home country is only 2%, which is a significantly low figure. The extent of globalization has impacted the students that everyone is not willing to leave their home country. There is a widespread disparity regarding the nationality of the friends an average American makes on Facebook (Ghemawat 2016). There is reduced cross border flow of cultures as well as communication. He also raised questions regarding the immigration patterns of people (Ghemawat 2016). He has observed the long-term inflow of people in international locations and he found that such populat ion accounts for only three percent. He also raised questions regarding the actual investments in foreign locations. He argues that the actual foreign direct investment in the global economy was only 10% (Ghemawat 2016). Hence, he concludes that there is actually the existence of cross cultural borders. Mr. Pankaj Ghemawat also argues that it is important to make the world more globalized. He suggests that it is a good option to limit the extent of liberalization (Ghemawat 2016). In the event that there is complete liberalization, there would not be revival of the trade figures. He suggests that the organizations should strive to create value creation. He tried to focus more on the value offering of the organizations (Ghemawat 2016). He tends to utilize the fixed amounts of resources as well as production across the international borders in order to minimize the costs to business (Ghemawat 2016). This model focuses on the volume gains in order to respect the absolute cost differences. The economies of scale are dependent on these models. It is important to incorporate economies of scale in the business. It is important to focus on differentiation as well as costs of the products (Ghemawat 2016). The customers would be willing to pay only if they find sufficient variety of the produc ts. The globalization can significantly increase the structure of the industry (Ghemawat 2016). The business policy makers should integrate a variety of models such as economist model, general equilibrium models and others. He stresses on the fact that by giving attention to the excluded economic components, one can gain subsequently from the trade liberalization. The inflow of the products, services, capital flows, people flows and the information flows should be considered while formulating business policies (Ghemawat 2016). He also agrees on the increase of the immigration workforce so that there is an increase in the overall GDP of the world economy. This is because of the fact that immigrants foster the economic growth between two regions (Ghemawat 2016). Mr. Ghemawat stresses on the fact that it is important to undertake multiple efforts as well as diversity in the business policies. He also emphasized on CAGE model which finds its wide use in the business schools (Ghemawat 20 16). This model identifies the different factors needed for business success such as cultural, administrative, geographic and economic. It focuses on the differences that focus on the differences that need to be focused by the companies. Globalization- Anthony Hidden The globalization is concerned with the diffusion of practices, ideas and technologies. Anthony Giddens has described the phenomenon as the worldwide social relations that has the capability to connect distant localities in which the local events are affected by the events of the home countries (Giddens 2013). This process does involve a huge amount of change which in terms of geography and experience. The globalization has been associated with a considerable amount of risks. Giddens has defined four crucial aspects of globalization (Giddens 2013). The first one concerns with the world capitalist economy. This principle states that the primary power centers in the global economy lies with the capitalist states, which is characterized by capitalist economic enterprise system of production (Giddens 2013). The institutional organization has acted as an insulation for the regulation of the economic activity. The big multinational companies have huge budget today which can surpass the bud get of the nations. The typical influence of a country is affected by its level of wealth. The second parameter of globalization comprises of the nation-state system, which is an inherent component of the modern era (Giddens 2013). The existence of sovereignty can be related with the borders and diminishing importance of frontiers. Giddens argued that the autonomy possessed by the territory is directly proportional to the other states recognition of the borders. The third parameter comprises of the world military order (Giddens 2013). This parameter believes in the fact that the states possess excessive military strength than required. The involved countries in the alliances give more preferences to the limitations so that they can manipulate the independent external strategies. The fourth dimensions comprise of the industrial development (Giddens 2013). This implies that there would be expansion of the increased division of labor and that includes the differentiation of the industr ialized areas of the world as per their level of industrial activity. The modern industry is characterized by increased division of labor in terms of skills, industry and the raw materials (Giddens 2013). There has been major interdependence of the division of labor. Gidden has visualized the globalization as the new instrument for driving change that shape up modern societies (Giddens 2013). This process comprises of opposing and varied tendencies. He argues that globalization cannot be criticized completely nor it can be prevented. However, the potential negative effects of globalization cannot be neglected. There are number of potential challenges of globalization such as ecological risk, financial risk, social unevenness and others (Giddens 2013). In a single society, different effects of globalization can be visualized. Giddens points out that the globalization has direct impact on the firms as well as societies. End of Poverty movement The global poverty is continuing since ages. The problem has become acute with the increasing unfair debt, tax and trade policies. It is a widespread concept that the developed countries or the wealthy countries are taking unfair advantage of the developing countries. The developing countries are considered as poor countries who often lands up being exploited by the developed countries. This has also been supported by globalization to a great extent. This has led to the creation of documentary named The End of Poverty which is being directed by Phillipe Diaz and narrated by famous actor Martin Sheen (Crawford 2013). The documentary shows that the unchallenged global business policies is the root cause of the present financial crisis. The financial imbalance is the primary cause of the global poverty. The goal of the End of Poverty movement is to search for alternative solution for reducing the instances of poverty in the world (Crawford 2013). This movement aims to interview the exporters and strive to seek answers for ending the phenomenon of poverty, especially in the developing countries. The interview opened up several alternate solutions for ending the incidence of poverty (Crawford 2013). The promise of the basic amenities of life such as food, clothing and shelter would address the issue of poverty. The healthcare facilities and the education services would also go a long way in handling the issue. The film has been shot exclusively in the slum regions of Latin America and Africa (Crawford 2013). The film has pondered on the question of the inter relationship of poverty with present economic framework. It depicts that around 20% of the total population of the planet consumes about 80% of the natural resources (Crawford 2013). It also shows that the consumption rate is more than 30% of earths ability to regenerate the same (Crawford 2013). This huge consumption has been displayed by the globalized economy and this has deprived the poorer nations to fall backward. Trade Not Aid The trade not aid is the central concept in the neoliberal development policy. This policy is in sharp contrast with the end of poverty movement (Whelan 2015). The primary concept behind this policy was that if the developing countries was allowed to perform free trade with the developed nations, then they would be more reliable (Whelan 2015). The globalization as well as development can be compared. The globalization strived for targeted policies which would address the cross-border trade (Maddison 2013). However, this theory claimed that the poor countries do not always benefit from the target policies that includes the limitation of the domestic market to globalization (Whelan 2015). The limitation is often carried out by several means such as tariffs. The trade not aid also claims that it is important to make the local societies fit for the varied global imperatives (Whelan 2015). The development policy of the neoliberal development focuses on the formulation of several policies. The local state must create optimum conditions for the so called market society. The obstacles towards the foreign direct investment should be minimized and there should be restructuring of the domestic labor force (Whelan 2015). This would make the industry more privatized and the social life would be revolving around the profit motive. These facilities were the crux of the trade not aid approach which would facilitate the overall development of the nations (Whelan 2015). However, experts opine that this approach was quite uncompromising and hence was likely to face opposition in the real world. There has been constant debate regarding the trade not aid approach. There are some experts who view this policy as a mechanism to rectify the wrongdoings of the developed nations on the poorer economies while the others believe that the adoption of this policy would bring adverse consequences (Whelan 2015). There have been instances of failure of the development aids and hence it has been agreed that the economic growth in the developing countries can be improved with the help of a policy (Maddison 2013). This policy would enable the countries to engage in trade with each other and hence capitalize their individual advantages. The trade not aid policy would certainly imply an improvement in the economic growth of the developing countries such as China or India. This could be a challenge for the developed world because the removal of the trade barriers would make these countries flooded with cheap produce from the emerging economies. Conclusion The globalization is synonymous with the free flow of trade practices all around the world. It is considered as a boon for most part of the world, however, there have been strong criticism regarding this too. The increased international trade is supposed to have propagated the idea of income inequalities. This report discussed the concept of globalization and its adverse effects. The common belief that globalization has led to shrinking world is not actually true. There is still certain level for difficulty in crossing the international trade borders. The impact of the globalization along with the dynamics of international trade are discussed. The effect of globalization on the financial markets is also explored. The G7 and WTC conferences displayed an increasing movement against globalization. The viewpoints of Pankaj Ghemawat is also discussed, who made crucial arguments concerning globalization. The main idea behind his viewpoint was that the world is not fully integrated and glob alization is less dominant in the world as perceived by the people. The ideas of Anthony Gidden is also discussed who has defined four important aspects of globalization. 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