The Economic Impact of Globalization Analytical Essay by scribbler

The Economic Impact of Globalization
An analysis of the benefits and costs of globalization to the contemporary organization.
# 153366 | 1,662 words | 11 sources | APA | 2013 | US
Published on May 26, 2013 in Business (International) , Business (Human Resources) , Economics (Globalization)


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Description:

The paper explores globalization's effects on national goods production and describes how it allows businesses to gain access to new markets and expertise in key strategic areas but it can come at the cost of an organization's culture and workers. The paper reveals that by far the most challenging area of making any globalization strategy work is within the sociocultural and interpersonal areas of change management that companies must navigate with their workers. The paper examines the impact of globalization on workers using Hofstede's cultural dimensions model to explain how drastically one culture compares to another at a sociocultural level, influencing the ability of workers to be productive across cultural divides.

Outline:
Introduction
Globalization and Its Impact on National Goods Production
Benefits and Costs to Globalizing Firms
Assessing the Impact of Globalization on Workers Across Cultures

From the Paper:

"The ability to gain access to new markets, drastically reduce production and operating costs, expand manufacturing and service alliances and partnerships globally, and accelerate supply chain and value chain performance are all the factors companies often cite for aggressively pursuing globalization (Kim, Mauborgne, 2005). This mindset of the positive benefits of globalization are also often attributed to the research and writing of Dr. Michael Porter of Harvard University, who in his studies of national competitiveness has shown that personal productivity as defined by the sociocultural, socioeconomic and political stability of a nation is the greatest determinant of economic growth (Porter, 1986). Based on this finding, Dr. Porter contends that well-integrated value chains have the potential to gain levels of economic and process-related performance compared to any other method or strategy (Porter, 1986). What Dr. Porter is saying in his research is that the greater the level of integration of one sociocultural organization structure to another, the greater the level individual productivity and corporate performance, often measured by Dr. Porter as Returned on Invested Capital (ROIC) (Porter, 1986). The net effect on national goods production in general and Gross National Product (GNP) is to accelerate its growth, with this dynamic of integration favoring those industries who have a high knowledge-sharing component to their business models (Dyer, Nobeoka, 2000)."

Sample of Sources Used:

  • Dimitratos, P., Petrou, A., Plakoyiannaki, E., & Johnson, J.. (2011). Strategic decision-making processes in internationalization: Does national culture of the focal firm matter? Journal of World Business, 46(2), 194.
  • dos Santos, T.. (2011). Globalization, Emerging Powers, and the Future of Capitalism. Latin American Perspectives, 38(2), 45.
  • Jeffrey H Dyer, & Kentaro Nobeoka. (2000). Creating and managing a high-performance knowledge-sharing network: The Toyota case. Strategic Management Journal: Special Issue: Strategic Networks, 21(3), 345-367.
  • Elmawazini, K.. (2011). Economic Globalization and the Technology Gap between Nations. Atlantic Economic Journal, 39(1), 97-98.
  • Ernst, C., & Chrobot-Mason, D.. (2011). Flat World, Hard Boundaries: How To Lead Across Them. MIT Sloan Management Review, 52(3), 81-88.

Cite this Analytical Essay:

APA Format

The Economic Impact of Globalization (2013, May 26) Retrieved September 17, 2019, from https://www.academon.com/analytical-essay/the-economic-impact-of-globalization-153366/

MLA Format

"The Economic Impact of Globalization" 26 May 2013. Web. 17 September. 2019. <https://www.academon.com/analytical-essay/the-economic-impact-of-globalization-153366/>

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