Globalization's Impact on Management Styles
Globalization’s Impact on Management Styles
MNGT 5000
Submitted to:
Dr. Harvey C. Hutchison
July 20, 2008
Myrtle Beach, South Carolina
Abstract Globalization has had a very complex impact on management. Business leaders are finding themselves making frequent changes to their management strategies and styles to keep up with local as well as international competitors. This paper will give a definition of globalization as well as provide a description of the impact of globalization on traditional management styles. The paper will discuss the transformations made by many companies from doing things the traditional way to doing things in a way that will ensure them a top position in a thriving society. It will also demonstrate how globalization has opened up many doors for thriving businesses and given them a leg up against some of their biggest competitors. Globalization has help to knock down boundaries between various countries and stabilized communication issues. Many foreign countries have begun to make English the second language to stay in the running with as well as to work in conjunction with its American Competitors.
Introduction This research papers intent is to address the impact that globalization has had on businesses and their management styles. The business industry has not always been what it is today and possibly would not have made it this far had it not crossed international boundaries. Globalization was likely the best idea that thriving businesses have ever had. What better way to expand a business and its revenue than to open up its doors to individuals worldwide. Globalization has also helped businesses cut back on production costs. What costs ten dollars to manufacture and produce in the United States may only cost a few cents in foreign countries. Outside manufacturers have also been able to produce some goods in shorter amounts of time helping businesses meet supply and demand at a much quicker rate. Being able
MNGT 5000
Submitted to:
Dr. Harvey C. Hutchison
July 20, 2008
Myrtle Beach, South Carolina
Abstract Globalization has had a very complex impact on management. Business leaders are finding themselves making frequent changes to their management strategies and styles to keep up with local as well as international competitors. This paper will give a definition of globalization as well as provide a description of the impact of globalization on traditional management styles. The paper will discuss the transformations made by many companies from doing things the traditional way to doing things in a way that will ensure them a top position in a thriving society. It will also demonstrate how globalization has opened up many doors for thriving businesses and given them a leg up against some of their biggest competitors. Globalization has help to knock down boundaries between various countries and stabilized communication issues. Many foreign countries have begun to make English the second language to stay in the running with as well as to work in conjunction with its American Competitors.
Introduction This research papers intent is to address the impact that globalization has had on businesses and their management styles. The business industry has not always been what it is today and possibly would not have made it this far had it not crossed international boundaries. Globalization was likely the best idea that thriving businesses have ever had. What better way to expand a business and its revenue than to open up its doors to individuals worldwide. Globalization has also helped businesses cut back on production costs. What costs ten dollars to manufacture and produce in the United States may only cost a few cents in foreign countries. Outside manufacturers have also been able to produce some goods in shorter amounts of time helping businesses meet supply and demand at a much quicker rate. Being able
Bibliography: Bateman, Thomas and Scott A. Snell. (2008). Management: Leading & Collaboration in the Competitive World Broda, Christian and David Weinstein. (2005, April). Are We Underestimating the Gains from Globalization for the United States? Current Issues [Online] Recklies, Dagmar. (2008, July 16). Small and Medium-Sized Enterprises and Globalization. Themanager.org [Online] Vedpuriswar, A.V. (2001 June 21). Understanding Globalization. Ismindia.org [Online]. Available: http://ismindia.org/faculties/ved/understand_global.html [2008, July 1].