Impact of Global Economy on Organizations

Paper Summary:

This report assesses the impact of the relatively new, global economy on organizations and examines attendant issues such as the opposition of globalization as a new type of economy and the more traditional notions of organizational functioning, which this paradigm has replaced. The report examines the impact that the global economy has had on organizations, focusing on how change in this environment has led some firms to react to the new type of economy, while others have taken more of a leading edge. The costs and benefits of these changes in regards to organizations are assessed, as are related issues of free trade in the global economy as opposed to national protectionism. The report provides a look at how changes in the global economy reflect changes in organizational management in terms of how the impact of the global economy is being managed and also presents relevant lessons that can be derived from this process. Before concluding, the report examines the issue of how management can ensure a positive effect on the organizational level.

From the Paper:

"Even within the global economy, forms of economic protection can sometimes be justified to foster the growth or development of young industries that would otherwise be overrun, but this type of protectionism is inherently transitory, and is not to be taken as a concrete phenomenon. This ongoing debate between protectionism and free trade has caused many problems in the forum of international trade, specially with the relatively recent political polarization caused by pro- and anti-globalization advocates, and various resolutions have been attempted through various methods to seek a balanced trade policy that takes the arguments of both sides into account."

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