Impact of Globalization on Management and Business Context

This article discusses the impact of globalization on management and business context. It covers topics such as cross-cultural awareness, efficient communication, brand Australia, travelling convenience, increasing competition, and knowledge sharing.

Running Head: Globalization
Management and Business context
Globalization

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Contents
Introduction......................................................................................................................................1
Impact of Globalization...................................................................................................................1
Greater understanding of the business.............................................................................................2
Cross cultural awareness..................................................................................................................2
Efficient communication.................................................................................................................2
Brand Australia................................................................................................................................3
Travelling convenience....................................................................................................................3
Increasing competition.....................................................................................................................3
Knowledge sharing..........................................................................................................................4
Conclusion.......................................................................................................................................4
References........................................................................................................................................5

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Introduction
Globalization is the increasing flow of ideas, people, money, technology, and businesses from
one country to the rest of the world (Beck, 2015). Globalization is evident in the many things
that we see around us today. It is not uncommon for an Australian citizen to use a phone that has
been built in China or eat rice that has grown in India. Almost half of china eats the meat that has
been produced in our homeland. This globalization has led to the world being a flat place and
enabled growth of different parts of the world. This has been possible because of increasing
exports, multinational companies, franchisees, the widespread use of social media and other tools
of international marketing (Baylis, Owens & Smith, 2017).
For the businesses it has been a life changing era. Globalizations has enabled businesses to
recruit employees from a foreign land, effectively utilize another technology and allow a flow of
information from a different land (Crane & Matten, 2016). This has led to rapid paced growth
and development of the world at large. Of course every coin has two sides and hence there are
cons that come along with globalization. At the foremost front, globalization in some manner has
made the rich richer and the poor poorer. The shift and flow of resources has been unfair and
partial towards the developed economies of the world. But the benefits of Globalization have
been productive in ways more than one.
Assessment 1 described a global internship business which created internship opportunities for
Australian students outside their homeland and invited foreign students to Australia for
internships in the country’s corporates, educational sectors and NGOs. The internship profile and
the right candidate would be selected after immense research to ensure that the internship offered
is in line with the student’s professional goals. And at the same point of time, the student’s
qualifications can add value to the organization.
Impact of Globalization
Globalization would largely assist this business by ensuring there is a better flow of people and
information from one country to another. There are several benefits of globalization specifically
in this line of business. Few of the benefits are listed below:

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Greater understanding of the business
The increasing globalization has anyway made it easier for people to travel to different parts of
the world in a matter of hours. Today, businesses are going international and various
organizations are understanding the need and importance of a cross cultural resource in the
organization. Globalization would hence assist organizations to understand the value of a foreign
intern and how they can utilize that resource to the full potential. Students would also have a
greater understanding about the importance of an international exchange program and hence they
would try their best to utilize their time in a foreign country more effectively (Stromquist &
Monkman, 2014). Convincing teachers and parents of the students would also be less strenuous
once they realize the depth of the opportunity presented to their children.
Cross cultural awareness
The exchange of students from one part of the world to another would also enhance cross
cultural awareness in organizations. Businesses can gain much from having a foreign resource. It
would assist in bringing new perspectives and ideas on the table (Pieterse, 2015). The intern
would be able to provide first-hand information about many details. This would also assists
employees to learn about different cultures and countries. Many businesses are now either
procuring raw materials from other countries, or delivering final products to them. Anyhow, the
reach of most businesses in no more limited to their homelands. This has helped in increasing the
importance of cross cultural organizations and hence better education (spring, 2014). Cross
cultural firm find it easier to adjust to the changing scenarios. It is also easier for employees of
these firms to work with different people. Globalization has hence successfully helped in
establishing the importance of cross cultural diversity in the organization (Kraidy, 2017).
Efficient communication
Communication forms the key to international business and is a crucial part of any organization.
Globalization has made it easier to communicate with people from different parts of the world.
This would enable the sales team to reach out to students as well as organizations. Social media,
emails and instant messengers have eased the process of communicating with people which are
at a separated by distance (Dunning, 2014). Communication is the key to an effective processes

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in an organization. And it was crucial that members of the organization and all its stakeholders
are able to communicate with each other. This efficiency in communication has only been
achieved by the advent of globalization in the current scenario.
Brand Australia
Globalization has increased awareness about different parts of the world. Every country has now
become a brand and they are putting substantial efforts in making their mark on the world map.
This effect of globalization would make it easier for the global internship business to attract
students from different parts of the world to apply for internships in Australia. This would lead to
increased and more efficient sales as well as would enable the firm to place more students for
internships in Australian companies.
Travelling convenience
Due to the advent of globalization, Airline industries have realized the importance as well as the
demand for global travel. This has in turn led to higher frequency of flights from one part of the
globe to another. Which has in turn led to convenience of travel and this has then made it easier
for students across the globe to travel international boundaries for the internship opportunities
created by us. Before the era of globalization, travelling to a foreign land was considered a task.
It was extremely tedious and hence people stayed away from pursuing it (Hanusch & Fürsich,
2014). Today, the scenario is entirely changed. Travelling from any part of the world to another
part can be achieved only in a matter of a few hours. This is one of the gifts of globalization.
Increasing competition
Globalization has made it possible for different people of the world to collaborate and effectively
better the current working system. Now it is hence able to achieve the best resources, talent,
technology and people. This has led to an increased competition in the industry. As a global
internship business, this is a great advantage. This would enable the firm to convince students
about the benefits of working with diverse organizations. Every student is competing with every
other student for grades, performances and jobs (Narula, 2014). A global internship would
provide the student with a much needed competitive edge.

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Knowledge sharing
Globalization has made a lot of knowledge public. People are now more aware about different
geographies and cultures. They understand the importance of this knowledge. This has also
established trust. People can assure their safety by gathering information on their own. The
internet knows everything. An Indian student can gather information about an Australian
organization. He or she can know their culture, working profiles, organizational history etc.
(Patil, 2017). This would assist the student in making the right choice regarding their internships.
Similarly organizations can get details about the students they would be hiring. Their LinkedIn
and Facebook profile would throw more light on the students’ career graph, subject preferences,
talents, hobbies and previous working experience if any. This creates a transparency and allows
both the parties to gather details about each other before investing
Conclusion
Globalization is a phenomenon that has here to stay. It has connected everyone from different
parts of the globe and made the world a boundary less place to live (Ritzer & Dean, 2015).
Globalization has evolved over the recent years and has helped various economies grow, develop
and make the best of the available resources on this planet. It has specifically helped businesses
in acquiring better technological, human as well as knowledge resources from different parts of
the world (Bowen, Baker & Powell, 2015).
Our business as explained in Assessment 1 is a global internships business which would facilitate
students from Australian in availing internship opportunities abroad and at the same time it
would assists foreign students by placing them for internships in Australian organizations. The
business would be largely assisted due to the advent of globalization.
Students and organizations would find it easier to know about each other before amalgamating
together to achieve organizational goals. It would be easier for our business’s sales team to reach
out to students from different parts of the world to offer them internships in our country. The
traveling and communication process across the globe has been made easier due to globalization.
Lastly, globalization has helped people realize the importance of working in different parts of the
world and gaining knowledge about a foreign culture (Ang & Van Dyne, 2015). This

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understanding of cross cultural organizations has been identified and valued due to the vast
effects of globalization.
References
Ang, S., & Van Dyne, L. (2015). Handbook of cultural intelligence. Routledge.
Baylis, J., Owens, P., & Smith, S. (Eds.). (2017). the globalization of world politics: An introduction to
international relations. Oxford University Press.
Beck, U. (2015). What is globalization? John Wiley & Sons.
Bowen, H. P., Baker, H. K., & Powell, G. E. (2015). Globalization and diversification strategy: A
managerial perspective. Scandinavian Journal of Management, 31(1), 25-39.
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in
the age of globalization. Oxford University Press.
Dunning, J. H. (2014). The Globalization of Business (Routledge Revivals): The Challenge of the 1990s.
Routledge.
Hanusch, F., & Fürsich, E. (Eds.). (2014). Travel journalism: Exploring production, impact and culture.
Springer.
Kraidy, M. (2017). Hybridity, or the cultural logic of globalization. Temple University Press.
Narula, R. (2014). Globalization and technology: Interdependence, innovation systems and industrial
policy. John Wiley & Sons.
Patil, P. B. (2017). Globalization Impact on Management Education in India. Globalization, 102(2).
Pieterse, J. N. (2015). Globalization and culture: Global mélange. Rowman & Littlefield.
Ritzer, G., & Dean, P. (2015). Globalization: A basic text. John Wiley & Sons.
Spring, J. (2014). Globalization of education: An introduction. Routledge.

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Stromquist, N. P., & Monkman, K. (Eds.). (2014). Globalization and education: Integration and
contestation across cultures. R&L Education.