An Analysis of Advantages and Disadvantages of Globalization in Management Essay

Globalization is a process through which different cultures and economic systems around the world integrate with each other. This happens due to the influence of large transnational corporations and improvements in the field of communication. Globalization assists in the management. It provides support to an organization in the planning and allocating the resources that may be required. Globalization, therefore, has a good effect on management. Globalization has both its positive and negative effects.Advantages of GlobalizationFree trade between nations has increased.Investors from the developed nations can bring up businesses in the developing nations.The speed of transporting both goods and people has increased.There is no likelihood of the rich nations coming to war.Global village effect has come to existence due to the cultural acceptance.Communication is now enhanced and fast. Now information can reach all nations.Corporations can carry out their transactions across the borders.Disadvantages of GlobalizationDiseases are likely to be spread faster without their people being aware of them .High rate of movement of skilled and non- skilled labour going from rich to poor countries.If one nations economy has a problem, all economies are affected.Violence may occur when some people claim to stick to their culture. They may not want change.Spread of the materialistic outlook and the way of life that may seem cruel to some people.Globalization has both good and bad effects. The negative effects can be reduced if various authorities try to control them. It is not an evil. The Euro zone crisis has caused great impact on the world economy. Currently, China and India have the major economic powers. Managers will have to come to terms with the global economy. It may require them to consider transferring their operations overseas and adopting new styles of operations. No one knows for how long the current global economic crisis will last. Both developing and third-world countries are likely to experience the effect of the global economy.Global economy is about the expansion of economies all over the world....

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