Dr. Harvey C. Hutchison
July 20, 2008
Myrtle Beach, South Carolina
Globalization has had a very complex impact on management. Business leaders are finding themselves making frequent changes to their management strategies and styles to keep up with local as well as international competitors. This paper will give a definition of globalization as well as provide a description of the impact of globalization on traditional management styles. The paper will discuss the transformations made by many companies from doing things the traditional way to doing things in a way that will ensure them a top position in a thriving society. It will also demonstrate how globalization has opened up many doors for thriving businesses and given them a leg up against some of their biggest competitors. Globalization has help to knock down boundaries between various countries and stabilized communication issues. Many foreign countries have begun to make English the second language to stay in the running with as well as to work in conjunction with its American Competitors.
This research papers intent is to address the impact that globalization has had on businesses and their management styles. The business industry has not always been what it is today and possibly would not have made it this far had it not crossed international boundaries. Globalization was likely the best idea that thriving businesses have ever had. What better way to expand a business and its revenue than to open up its doors to individuals worldwide. Globalization has also helped businesses cut back on production costs. What costs ten dollars to manufacture and produce in the United States may only cost a few cents in foreign countries. Outside manufacturers have also been able to produce some goods in shorter amounts of time helping businesses meet supply and demand at a much quicker rate. Being able to market and distribute a product or service quicker than one of your biggest competitors can mean a leg up in a world where businesses are always working to get ahead. It is my belief that globalization has added structure to the varied management styles used by many business owners and managers.
The topic that I chose to research was surprisingly difficult to find detailed information for. I searched various online magazines such as Business Week and HR Magazine. These magazines offered little to no help, providing minimal information not worth mentioning. Searching the Webster Library online offered little help as well. There were various article abstracts that seemed to contain stimulating information, however full-text versions of the articles were unavailable for viewing. At that point I started to question my decision to explore this particular topic. I then decided to look to my text book, Management: Leading and Collaboration in the Competitive World, to lay the foundation for my research. It was there that I found the most information on globalization and management. I picked out the key concepts that would aid in the explanation of my topic.
My next venture for information took place by surfing the internet. It was here that I sought the research of prominent business scholars and journalist who have studied and examined globalization and its direct relationship to management. The quality of the information that I found made it difficult to pick out what was the most significant. I narrowed my search down to four online journals and articles that provided me with enough information to draw my research to a strong conclusion. My main goal in completing this research paper was not only to further educate myself on global issue, but also to further educate anyone that had no clue just as I did. Most of the time we as individuals will receive a products or good and notice that the manufacturing labels...