Topic > impact of globalization - 638

Globalization on business management is the interconnection of international markets and the management of businesses in a global industry. This produces greater opportunities for companies to open up additional markets, enabling customer harmonization as a result of increasing shared cultural values, providing higher lower operating costs in other countries, accessing new raw materials, resources and opportunities of investment. Globalization means that businesses are now much freer to choose where to operate from and can move to cheaper and more efficient locations. While multiple locations and distributed operations can lead to cost reductions, this can also lead to increasing complexity in managing interactions between different cultures. With more industries and resources available, opportunities for people also grow exponentially, thus increasing complexity and more and more people are exposed to the lucrative benefits of moving abroad. This increases immigration rates and difficulties in managing people of different cultures and beliefs. Interestingly, globalization generates consumer expectations, as consumers around the world become better informed and develop demanding expectations. Consumer expectations are becoming diversified, what may be considered quality/affordable in one market may not necessarily be so in others and therefore expectations need to be managed. Increasing knowledge levels of countries as new cultures and technologies open up leads to fair trade issues as people begin to question their rights as employees, gain knowledge about how the company they work for operates in other areas and would like the same or similar treatment which may not always be the focus of the paper ......d Western Organizations by Jihyun Kim Bloomsburg University of Pennsylvania, USA, Renée A. Meyers, University of Wisconsin-Milwaukee - USA2. International Journal of Economics and Management; vol. 8, no. 13; 2013, ISSN 1833-3850 E-ISSN 1833-8119 Published by the Canadian Center of Science and Education3. ETHICAL ISSUES IN INTERNATIONAL BUSINESS - The Annals of the "Ştefan cel Mare" University of Suceava. File of the Faculty of Economics and Public Administration Vol. 10, Special Issue, 20104. http://www.tutor2u.net/business/external/globalisation_effects.htm5. The Impact of Globalization on Business, May 22, 2006, by Mike Myatt, Chief Strategy Officer, N2growth6. Intercultural: Cultural Ethical Dilemmas in Business: From Paying Bribes to Political Affairs by Irina Budrina7. http://business.laws.com/business-ethics/international-business-ethics#sthash.OhPEWFoa.dpuf