Managerial Challenges Of Globalization

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According to Investopedia, Globalisation is the tendency of investment funds and business to move beyond domestic and national markets to other markets around the global, thereby increasing the interconnection of the world. Globalisation increases international trade and cultural exchange. Globalisation has been around for many years, especially in emerging markets and the big winners are obvious. More and more small and mid-size companies are beginning to have global ambitions. However it is not as easy as it looks, managing in a globalised world has its challenges. What is our current understanding of managerial effectiveness? Does it apply to managers working in an increasingly complex global world? How different is it when they managed…show more content…
Transportation has also put a strain on non-renewable sources of energy, such as gasoline. Due to transportation of both cargo and people, gases emitted from aircrafts have also led to the depletion of the ozone layer. Another issue caused by globalisation would be the industrial waste being generated for production purpose and discharged into the ocean, killing underwater life and at the same time depositing harmful chemicals into the sea. Toxic waste is also being thrown into the soil resulting in the growth of noxious weeds and…show more content…
With the complexity of preparation for overseas assignments, time consumed in adaptation to a different language and culture, it is strongly recommended to start the leadership development much earlier in a leader’s career. More students should be sent abroad for internships and student exchange programs in preparation for future leaders. However this is not enough, these students or leaders-to-be are encouraged to make use of reflective practices like journaling, mediation or prayer. By developing support networks of peers, they would be able to consult with people they trust with much confidence and make better decisions as well as confide in each other on their dilemmas, mistakes and challenges. Such experiences would enable future leaders to learn how to appreciate and accept people from diverse backgrounds which will help them become effective global
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