What is meant by Globalization The implications of-01676
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vu isl201 Islamic Studies.
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Globalization means that for a Company to survive, it must establish markets not only in it ownCountry but also in money foreign countries .Globalization describes a process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and trade.
It is the Name for the process of increasing the connectivity and interdependence of the world's markets and businesses. This process has speeded up dramatically in the last two decades as technological advances make it easier for people to travel, communicate, and do business internationally.
Implications of globalization:
There are various implications of globalization on organizational behavior like
- New organizational structures
- Different forms of communications
- Need more sensitivity to cultural differences
- More competition
Now a days globalization is very much important for survival. Organizations expand globally to gain access to resources as inputs and to sell there products as outputs. Companies seek the expertise found in other countries. Competition is of greater extent in global environment. Companies compete with foreign competitors. The world is viewed as a single market. There exist a diverse workforce and the challenge of managing it increases as organizations expand their operations internationally. People from different countries have difficulties in non verbal communication due to differences in their cultures.
