Globalization has been impacting and changing countries’ economies, cultures, and politics. In this research, we Just focus on the impacts of globalization on the economies of countries over the world. In term of economy, there are not borders between countries. Laborers and goods are exchanged between countries, which leads to not only the competitions between corporations of countries, but also the competitions between laborers.
Countries around the world gain a lot of opportunities as well as challenges when applying globalization strategy. There are a lot of ways to define the terminology globalization. According to the book named International Management edition 8th (The McGraw-Hill Companies, Inc, 2012- p. 6), globalization can be defined as the process of social, political, economic, cultural, and technological integration among countries around the world. Globalization is also defined as the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.
The appearance of globalization creates many chances and challenges for many countries around the world. To clarify the importance of globalization as well as its impacts on the economies of countries around the world, we need to response and analyze the following questions: 1 . How has globalization changed competition in businesses? 2. How has globalization changed the work environment within companies? 3. How has globalization changed career opportunities for the current generation? 4. How can you take advantage of globalization in your career plans?
To answer completely those questions and to analyze profoundly the results of globalization can help us clarify the impact of globalization on the countries’ economies and their laborers. How has globalization changed competition in businesses? A business with local laborers or with domestic technologies only creates local products and low revenues. The appearance of the globalization in a business makes the laborers in that business become variable, and leads to the using of foreign and modern technologies in operating that business.
The using of foreign laborers will decrease the cost of producing. Therefore, the cost of a complete product will completely decrease. As we see, corporations not only compete by paying high salary for employees, but also compete in finding new and cheap laborer markets which are Asian markets, especially India, China, Bangladesh, Vietnam, etc. The proof of competing in business by exploiting foreign labor is the hiring China’s workers of manufacturing Apple’s devices. Apple Inc. Gains competitiveness over other corporations by making use of China laborers.
The laborers in China are very cheap and crowded. Therefore, Apple Inc. Can produce tons of its devices at very cheap prices. Another example is related to textile industry. Many big and famous fashion brands such as Tommy, Nautical, Nikkei, or Aids make use of foreign textile corporations in India, Bangladesh or Vietnam. The using of foreign laborers of those famous brands also creates the competitiveness between hired textile corporations. That is the competitiveness of the salary, work condition, and insurance policies for employees between hired textile corporations.
Globalization also creates the technological competitiveness between corporations. Nowadays, consumers are interested in online shopping because it is comfortable, cheap, and fast. Therefore, online retailers or sale corporations always improve their technologies to satisfy the demands of consumers. The development of technologies leads to the development of the consumers’ demands. More and more consumers around the world desire to shop internationally, and therefore multinational retailers also develop their information systems to provide their customers with qualified products in timely manner.
According to a consumer survey, ninety six percent of responders say they shop online for convenience. Eighty percent of them shop online for price, and eighty nine percent of them think that shopping online is easier than shopping in person. As we see, the demand of shopping online is so huge, therefore the competitiveness between domestic or overseas retailers is really stressful. As we know, there are any organizations related to globalization, such as World Trade Organization (WTFO), Europe Union (ELI). The countries in those organizations are freely tariff to exchange products.
Therefore corporations in those countries also compete to survive in the market. They create a new competitiveness, local corporations against foreign corporations. How has globalization changed the work environment within companies? Along with the change of competitive in businesses, globalization changes the work environment within companies. Globalization brings companies employees who come from many countries around the world. Those employees have different cultures, life styles and ethics. In multinational companies employees and managers have to find the common characters to work with each other.
Managers will feel a little difficult to announce a policy, or employees feel weird when they corporate with their colleagues. Those are challenges which managers and employees have to deal with while working in a multinational companies. Globalization also improves the condition of working in companies which locate in developing countries. For example, when some famous fashion corporations want to have textile corporations in Vietnam recess their clothes, those famous corporations always require textile corporations in Vietnam that the employees have to work in a cool place, or clean air.
Employees have to be bought insurance, or employees have to be completely protected when disasters occur. As we can see, globalization partly develops the working place within companies. In addition, globalization changes some common behaviors of someone in companies. In multinational companies, there are employees coming from different backgrounds. Therefore, employees have to learn the difference of cultures f the other to have accurate behaviors, and to exclude discrimination or racist. There are a lot of things changed in workplace when globalization appears.
They are the changes of work conditions, salaries, and behaviors of employees. How has globalization changed career opportunities for the current generation? When globalization appears, there are many challenges as well as opportunities for the current generation. Current generation will have many choices for their careers because there are a lot of companies around the world waiting for them. People who come from the U. S or Europe will easily get the Job from international companies cause they are well educated and really active.
In Asia, current generation also has a great chance to pick their Jobs themselves because there are a lot of foreign companies investing in this continent. Especially in China, Vietnam, India, or Indonesia, young laborers have great opportunities to be admitted in multinational companies. Young laborers in Asia are patient, hard-working, and they often admit the low salary standard compared to the salary of laborers in the U. S. Therefore, multinational companies really like to hire Asian laborers. Because of that situation, some other young local laborers will be in trouble.
They will be unemployed because of other cheap, good, and patient laborers. In short, globalization brings huge opportunities career for those who are active, quickly adopted, and qualified. It also makes some trouble for laborers who are not updated and well trained. How can you take advantage of globalization in your career plans? To be an international student, I think I am a quickly adopted person. Therefore globalization helps me have more chances to be admitted in multinational companies. I intend to work for an American company. I think they need someone productive, and active like me.
In addition, there are many U. S companies in Vietnam, and I believe that they need someone who has the experience in the U. S working styles and has the Asian background to adopt in Vietnam workplace. I think that globalization brings me a chance to work in multinational companies which locate in my country. I intend to work for a multinational company, and I really want to proceed it in my country. In my opinion, globalization helps me to proceed it. As we can see globalization has a great impact on the economy. It changes the competitive in business, the work environment, and impacts on current generation.
Globalization is the good chance for developing countries to integrate in the world, and it is also the challenge for develop countries to compete against emerging markets of developing countries.