Globalization is a process through which the organizations expand their operations on international level or say start operating in many countries at a certain point of time.
With the changing times globalization is becoming more prevalent and due to this companies have to deal with increasing problems of cultural diversity within the workforce of the organization. Domestic companies are used for the purposes of outsourcing by MNC’s and the wage rates changes due to the impact of globalization (Rugman, 2012). The countries with lower standard of living can offer their services at low cost in comparison to countries having higher standards of living.
Here the topic of discussion is “managing the impact of globalization at work”.
Managing globalization at work
A situation of collaboration is created through increased visibility and value chain performances with effective processes. The management must form strategies for reviews in situations of critical obstacles.
Each nation has its own regulations and local policies that are ever changing and provides a dramatic impact on the investments made by the company in other nations which are even involved with high rates of uncertainty in markets where growth is estimated to be a rapid growth (Scherer, 2013). The managers must adopt a global portfolio for managing the global workforce. Regional barriers can be overcome the procedures of greater visibility for managing global workforce with this the managers can even develop suitable contingency plans for future prospects of business. Globalization in present scenario is seen as inevitable and a technology driven process. Therefore it is essential for organizations to adapt the technological processes for surviving and prospering in the long-run. Managing globalization includes the inculcation of laborious processes of rule formation at international levels and enforcement by the governments of various nations which with these policies support the activities of business and also of the citizens of the country. The regulations formed by the government protect the globalized workforce and their communities from being downgraded (Locke, 2012). Due to globalization competition at various levels increase especially at local levels that result I shortages of desired skills among employees that can only be maintained by providing timely training and performance appraisal of employees so as to keep them updated with current market trends. A demand for effective planning processes increases which can be effectively aligned with the dynamic resource management capabilities. The management experts must formulate strategies through tools for supporting the functions of managing globalized workforce by reviewing intelligence at workplace among workers with a global perspective.
Globalization at workplace can be beneficial as it has the potential of increasing trade among nations which will help in the generation of wealth. Through globalization, the standard of living of employees get improved due to stimulated technological innovation and works in making the world a concise place to work in any part of the world by bringing people from distant parts together and enhances mutual understanding and values of social justice.