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University of Lethbridge
MGT 3031
John Usher

MGT3031: Managing Responsibly March 22/12 Globalization  Globalization: a process of decreasing constraints on the interactions among the nations and peoples of the world  Economic globalization: integration of fragmented markets into a global economy o Ie: free trade  Political globalization: world power relationships change; a loss of sovereignty by individual countries  Social or cultural globalization: emergence of a worldwide (homogenous) cultural system  Thesis #1: Monoculture or Homogenization thesis o Combining to drive out local cultures around the world and replace them with Westernized culture o Not necessarily bad, seen as “survival of the fittest”  Thesis #2: Polarization thesis o Emerging cultural dichotomy between western and non-western ways of life which may lead to a civilizational conflict between the west and the other  Thesis #3: Hybridization thesis o Optimistic view of a balanced outcome that combines the best of ‘progress’ with a tolerance for tradition and diversity o Supported by successful intermarriage to cosmopolitanism to glocalization  Finding the same urban structure all around the world isn’t necessarily a bad thing  Glocalization: taking local solutions and applying them globally 1. ie: different menus in McDonald’s in different parts of the world  5 Areas of impact o Karakowsky 1. Consumers 2. Employees 3. Environment 4. Developing nations 5. Human rights o Osland 1. Equality 2. Labour conditions 3. Environmental sustainability 4. Governments 5. Culture and community  Cons of globalization o Disproportionately puts money into the hand of a few people coming from many (capitalistic economy) o Potential for periodic financial crises  Everyone is interconnected by money, so when one goes down, it hurts everyone o Environmental issues  Shop around for lowest environmental standards lowers cost o Disrespect of intellectual property  What a multinational corporation sets up in a foreign sector, there is upward mobility of education of foreigners that is applied directly to the financial gains of the multinational corporation  Pros of globalization o Poverty is on its way out in those countries that have adapted to globalization  Free-market economy based on trade MGT3031: Managing Responsibly March 22/12  Poverty thrives in those countries that fail to embrace globalization (Kenya, many African countries) o Property rights  If people own land, they have the incentive to make it profitable o Competitive labour makes wages rise o Deregulation let companies thrive and improve living conditions of citizens o Sweden  Taiwan  Vietnam  Kenya  To be successful, one must embrace capitalism and globalization.  3 things that need to be in place:
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