The Impact of Globalization on Organizations

Paper Summary:

This paper hypothesizes that global companies have an over-growing and dynamic positive impact of the globalization process in terms of increased sales, lower cost, better internal structure and improved competitive status. The hypothesis is derived from the importance of globalization in the present economy as is evident from the explosion of trade liberalization, information technology and international division of labor. The study is based on secondary research conducted on leading firms in the global economy in terms of their sizes, industry and countries.

From the Paper:

"Globalization is the hot topic of the new era. It is the subject of profound debate and deliberation by theorists, social scientists, economists, politicians and the like. Proponents of globalization argue that it has nurtured a stream of information exchange, increased the living standards of the poor, integrated and increased the awareness of several cultures worldwide, toppled the previously unleashed forces of communism and propagated democracy in the real sense, increased the purchasing power of all social classes and decreased inequality between the rich and the poor. Corporations are expanding in terms of increased commerce in local and global markets, more efficient and greater productivity of the employees and the firm itself, improved customer service and a better competitive status. In contrast, opponents argue that globalization has created inequality in all dimensions and has materialized the West at the expense of the developing countries."

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