| lization refers to the growing economic | | | | world's countries. |
| dependence among countries as reflected in | | | | Popular statistics can also reveal the dominance of |
| increasing cross-border flows of goods, services, | | | | multinational companies: over 50 percent of the |
| capital and knowledge. At an organizational level, | | | | world's top 100 economies are not countries but |
| globalization can refer historically to the extent to | | | | companies. The largest 500 companies control |
| which a company has expanded its operations so | | | | over 50 percent of the world's wealth and |
| that it engages in cross-border flows of capital, | | | | conduct over half of its trade. The ten biggest |
| goods and knowledge across subsidiaries. It can | | | | companies together turn over more money than |
| also be used to describe a corporate strategy, | | | | the world's smallest 100 countries and the world's |
| designed to reap the benefits of becoming a | | | | second largest multinational, Shell, owns or leases |
| global company. Globalization at all levels is, | | | | 400 million acres of land, which is larger than 146 |
| therefore, very much an outcome of corporate | | | | countries put together. Consequently to talk about |
| decision makers who perceive globalization as an | | | | differences between the UK, US and Europe's |
| attractive and feasible proposition. | | | | country economies can be considered somewhat |
| As such, the process need not be an inexorable | | | | futile these days. What we should be talking about |
| one. Economic uncertainties may drive national | | | | is the differences between global company |
| governments and corporations towards the | | | | economies. The latest economic downturn has all |
| protectionism of defending a home market and | | | | but confirmed this. |
| away from the free-market ideology that has | | | | We can sense the impelling force of globalization |
| been synonymous with globalization. A number of | | | | ourselves. We can also appreciate that the |
| economic downturns have led to unresolved | | | | economic liberalization of the world's developing |
| debates about what can be done to prevent | | | | countries and the technological advances in |
| global capitalism from destroying itself. There is a | | | | telecommunications and transportation has made |
| concern that global capitalism's blindness to | | | | globalization an enticing prospect for those |
| anything but the bottom line and an apparent | | | | corporations seeking to grow and survive. In the |
| indifference to inequalities suffered in the poorest | | | | face of increasing international competition, |
| countries make the system unsustainable, which in | | | | multinational company chiefs have identified the |
| turn places in jeopardy the living standards within | | | | opportunities afforded by the globalization process |
| the developed world. | | | | as the means by which to meet the challenges. In |
| In reality globalization will continue to be a critical | | | | turn their business decisions help to sustain the |
| success factor for most companies and for most | | | | process. These international opportunities include |
| developing countries alike. The progress made | | | | capturing new markets and realizing great |
| with information technology and communications | | | | economies of scale; the creation of extensive |
| and in particular the internet during the past | | | | networks for the transfer of new ideas and |
| decade has made this inevitable in much the same | | | | understanding across the organization; and the |
| way as with the industrial revolution during the last | | | | optimal allocation and relocation of resources. All |
| century. Indeed a global economy and global | | | | of these have set an agenda for an organization's |
| business remain very much a critical component | | | | international human resourcing strategy. Attention |
| of our existence now. All of the best known | | | | to human resourcing activities and initiatives will be |
| branded names, drinks, fast foods, sports | | | | required to mobilize those resources that will best |
| equipment, automobiles, petroleum, computers, | | | | contribute towards growth and increased profits, |
| pharmaceuticals, electronics and other consumer | | | | leading ultimately to long-term corporate |
| products can be found in the majority of the | | | | sustainability and survival. |