11 08 - Lecture Notes - Globalization.docx

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Western University
Management and Organizational Studies
Management and Organizational Studies 1021A/B

Globalization What is it? What is globalization about?  The shrinking of space and time in regions around the world  Comparisons of similarities and differences in countries/cultures  … is a pig. Origins of Globalization  Globalization as historical process o Pre 19 C – globalization of trade o ‘The parents of globalization’ – like Henry Fayol and management  Modern globalization comes from important historical developments o Strongly related to three phenomena:  Imperialism – empires (somebody powerful exploiting someone who is not) Greek, Roman, Persian empires  Mercantilism –  Slave trade – modern concerns about sweatshops and labour conditions  Globalization – theory? Analysis? o Standardization o Increased markets o Transportation o Comparative advantage  Globalization – normative o ‘Globalism’ as an ideology o Globalism of the Right (mainstream business perspective) o Globalism of the Left (traditional labour perspective) o Populist Globalism – Occupy movements, Arab Spring movements, anti-sweat shop movements, international NGOS Elements of Globalization  ‘New theatre of operations’ o Decline of nation states  Treaty of Westphalia – 1648  Cuius region, eius religio (whoever controls the territory, controls religion) o Trivialisatino of geographical distance?  New actors at the macro level  ‘Polycentrism’ o BRICs – Brazil, Russia, India, China, sometimes South Africa Analysis of Globalization  Evidence” Globalization as a very successful macro engine of growth and wealth creation o … but a much less successful engine of wealth distribution  Has globalization been good for human society? For the planet? o Sweatshops  Economist Jeffery Sachs: My concern is not that there are too many sweatshops but that there are too few Globalization?  Global economy o Resources, markets and competition are worldwide in scope  Globalization o The process of growing interdependence and awareness among elements of the global economy, and also international culture and society  International Business and Global Sourcing o Firms purchase products and services from around the world for local use Multinational Corporations  MNC o A business with extensive foreign operations in more than one country  TNC o A MNC that operates worldwide on a borderless basis Managing MNCs  Managing MNCs bring distinct challenges o Can be controversial in home country, abrad in production centres, and also in markets… in different ways than domestic business  Planning, organizing, leading and controlling are complicated in MNCs because of how different environments rework every managerial process we have considered (Seminar case study) MNC Issues  Cur
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