THE CHALLENGES OF HUMAN RESOURCES MANAGEMENT UNDER THE GLOBALIZATION
THE CHALLENGES OF HUMAN RESOURCES MANAGEMENT UNDER THE GLOBALIZATION
Contents
Factors driving Globalization
Globalization refers to the progression of the Organization through international incorporation which begins through continuous exchange of global views and ideas. Globalization cannot be defined as a recent phenomenon, it has been increasing since the mid of 1980s and 1990s. There are various factors which results in the rise of globalization. Advances in the telecommunications and transportations are the major driving factors which has enhanced the rate of globalization.
Some of the vital factors which add towards globalization are discussed as follows:
a. Trade and Capital
Trade and Capital has increased the rate of globalization to an extreme extent. In 2000, the international Monetary Fund (IMF) has found that trade, capital and Investment are the basic aspects of globalization. Through International trade, exchange of capital goods takes place all over different territory and countries. This has simultaneously increased the rate of industrialization and advanced transportation thereby increasing the outsourcing of multinational companies. An advance in transportation contributes towards increase in the financial scale of the country which pushes up the economic scale.
b. Market drivers
The Market drivers contribute towards globalization. The convergence of per capita income, lifestyle and Organizational behavior as global customers are the market drivers. Asia Pacific market has been found to be the most integrated trading region in the planet, it accounts for 50-60% of the total export and imports internationally. Privatization of many industries worldwide, Independent countries global network growth etc drives the market.
c. Competitive drivers
The Globalization vitality has been increased by the improvement of the HRM in Organization. Increase globalization rate has made the HR to acts as a key possession for the organization
Contents
Factors driving Globalization
Globalization refers to the progression of the Organization through international incorporation which begins through continuous exchange of global views and ideas. Globalization cannot be defined as a recent phenomenon, it has been increasing since the mid of 1980s and 1990s. There are various factors which results in the rise of globalization. Advances in the telecommunications and transportations are the major driving factors which has enhanced the rate of globalization.
Some of the vital factors which add towards globalization are discussed as follows:
a. Trade and Capital
Trade and Capital has increased the rate of globalization to an extreme extent. In 2000, the international Monetary Fund (IMF) has found that trade, capital and Investment are the basic aspects of globalization. Through International trade, exchange of capital goods takes place all over different territory and countries. This has simultaneously increased the rate of industrialization and advanced transportation thereby increasing the outsourcing of multinational companies. An advance in transportation contributes towards increase in the financial scale of the country which pushes up the economic scale.
b. Market drivers
The Market drivers contribute towards globalization. The convergence of per capita income, lifestyle and Organizational behavior as global customers are the market drivers. Asia Pacific market has been found to be the most integrated trading region in the planet, it accounts for 50-60% of the total export and imports internationally. Privatization of many industries worldwide, Independent countries global network growth etc drives the market.
c. Competitive drivers
The Globalization vitality has been increased by the improvement of the HRM in Organization. Increase globalization rate has made the HR to acts as a key possession for the organization
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