Globalization And Human Resourcing

Article Written By: lewisabs

Globalization refers to the growing economic dependence among countries as reflected in increasing cross-border flows of goods, services, capital and knowledge. At an organizational level, globalization can refer historically to the extent to which a company has expanded its operations so that it engages in cross-border flows of capital, goods and knowledge across subsidiaries. It can also be used to describe a corporate strategy, designed to reap the benefits of becoming a global company. Globalization at all levels is, therefore, very much an outcome of corporate decision makers who perceive globalization as an attractive and feasible proposition.

As such, the process need not be an inexorable one. Economic uncertainties may drive national governments and corporations towards the protectionism of defending a home market and away from the free-market ideology that has been synonymous with globalization. A number of economic downturns have led to unresolved debates about what can be done to prevent global capitalism from destroying itself. There is a concern that global capitalismandrsquo;s blindness to anything but the bottom line and an apparent indifference to inequalities suffered in the poorest countries make the system unsustainable, which in turn places in jeopardy the living standards within the developed world.

In reality globalization will continue to be a critical success factor for most companies and for most developing countries alike. The progress made with information technology and communications and in particular the internet during the past decade has made this inevitable in much the same way as with the industrial revolution during the last century. Indeed a global economy and global business remain very much a critical component of our existence now. All of the best known branded names, drinks, fast foods, sports equipment, automobiles, petroleum, computers, pharmaceuticals, electronics and other consumer products can be found in the majority of the worldandrsquo;s countries.

Popular statistics can also reveal the dominance of multinational companies: over 50% of the worldandrsquo;s top 100 economies are not countries but companies. The largest 500 companies control over 50% of the worldandrsquo;s wealth and conduct over half of its trade. The ten biggest companies together turn over more money than the worldandrsquo;s smallest 100 countries and the worldandrsquo;s second largest multinational, Shell, owns or leases 400 million acres of land, which is larger than 146 countries put together. Consequently to talk about differences between the UK, US and Europeandrsquo;s country economies can be considered somewhat futile these days. What we should be talking about is the differences between global company economies. The latest economic downturn has all but confirmed this.

We can sense the impelling force of globalization ourselves. We can also appreciate that the economic liberalization of the worldandrsquo;s developing countries and the technological advances in telecommunications and transportation has made globalization an enticing prospect for those corporations seeking to grow and survive. In the face of increasing international competition, multinational company chiefs have identified the opportunities afforded by the globalization process as the means by which to meet the challenges. In turn their business decisions help to sustain the process. These international opportunities include capturing new markets and realizing great economies of scale; the creation of extensive networks for the transfer of new ideas and understanding across the organization; and the optimal allocation and relocation of resources. All of these have set an agenda for an organizationandrsquo;s international human resourcing strategy. Attention to human resourcing activities and initiatives will be required to mobilize those resources that will best contribute towards growth and increased profits, leading ultimately to long-term corporate sustainability and survival.

About the Author

ABOUT THE AUTHOR Dr. A. Lewis. DBA MBA BBA is an accomplished global human resource specialist who has worked within various market leading firms within the manufacturing, automotive, engineering, FMCG and aviation industries. He has extensive experience in recruitment, human capital management, training, globalization, outsourcing and employment law. He now works within the professional education industry and is a registered Professor at the Academy of Business Strategy. Visit The Academy of Business Strategy

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