The impact of management in the globalization of business.
Business management is the act of getting people together to accomplish desired goals and objectives. Globalization makes business management easier and efficient for the company.
Globalization through global communications, global markets and global production have promoted and facilitated by a fourth area of global activity in relation to money. For example, the American dollar, the Japanese yen, Euro and other major national currencies circulate globally. They are being used anywhere on earth and moving electronically and via air transport anywhere in effectively no time. Most bankcards can extract cash in local currency from the thousands of automated teller machines (ATMs) across the world. Also credit cards like Visa, MasterCard and American Express can be used for payments in almost every country in the globe (Scholte J.A., 2000).
The multinational corporation
United States seems to have powerful impact upon many other countries and societies. The popular consumer culture of the economically dominant West is relentlessly and inevitably transforming other regions, cultures, nations and societies. In addition, such perspective imply that technological change, mass media, and consumer oriented marketing campaigns work in tandem to remake whatever they touch in their own image. Even attitudes and ideas about society, religion and technology are transformed by cultural diffusion brought by globalization. Example, in America McDonalds represent fast, cheap and convenient food while it is not the same worldwide. It's of high price in other countries like China and Russia where it involves cultural experience (Walle A.H, 2002)
Culture shock experienced by managers who work abroad
Culture shock can be primarily attributed to difference between the cultures of the manager’s native country, work organization and work group and that of the new country, local organization, and local work cultures. During...