Globalization and Business

Paper Summary:

This paper discusses the impact of globalization on the business approach to the organization. The paper further discusses the new approach to workers in the United States, and how those workers are affected by globalization. The paper also discusses the traditional business approach to the customer, and how this approach is being forgotten in the modern age. Finally, the paper addresses an American company that has been changing its executives in order to appear culturally diverse within the global community.

From the Paper:

"Globalization has been viewed by many as a method that will inevitably provide great expansion in business, and create boundless opportunities for increases in income. However, opponents of globalization suggest that what an open international trade does to an average size American business is provide too much competition that the owners of that business cannot keep up with due to costs. Furthermore, economists contend that American workers are the greatest group to suffer in globalization because businesses that cut costs in order to remain competitive traditionally cut wages and benefits. Therefore, while some businesses may indeed prosper from globalization, the full impact on American business may not be fully realized until demand cannot be supplied because workers do not exist to create, or disburse the product. Yet, further research suggests that globalization does not necessarily mean that the modern company must become oriented in international business."

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