GLOBALIZATION
Figure 1 |
Globalism has impacted every single organization regardless of company size across the world. However, the biggest challenge has been for some organizations that have done extremely well domestically to actually branch out and embrace a whole new pool of consumers that are out there on a global basis, and that requires acting and thinking differently. It is also requiring leading differently.
Rather than thinking in terms of national markets and national economies, leaders of business thought in term of global markets. There are causes of rapid expansion of trade. Rising real living standards across many countries. Which means it is easy to export and to deal with those countries. Trade liberalization, where there has been a push on the part of governments and international organizations to try and liberalize rate makes it easy to trade across boundaries to reduce tariff barriers and obstacles.
Figure 2 |
Privatization and liberalization of the domestic market, deregulation of international capital markets, fall in transport costs and, improvement in global communications. Globalization is a business philosophy based on the belief that the world is becoming more similar. It increases contact, awareness, and interdependence in economic activity and social relations.
Globalization in companies across the globe concerns, trade in goods and services, investment, labor force movement, products, production, technology, research and development, exchange of ideas and knowledge, and intellectual property.
Figure 3 |
For example, ZIM integrated shipping company is one of the largest companies that provides cargo services across the world. Their Z Factor digital platform concept focuses on six specializations. Which are Digitize, Globalize, Freeze, Optimize, Personalize and Socialize.
Through Globalize, organization’s global team works as one to present customers the finest and most well-matched customer services with Global Network of Trades and Lines. ZIM is a long-term supporter of the United Nations Sustainable Development Goals. Through this ZIM company ensures to make a constructive impact, represented and evaluated to achieve business targets productively.
- Encouraging professional and technical training for young people from underprivileged circumstances around the world.
- Capitalizing in the structure and fixing of educational organizations.
- Granting scholarships for mechanical, vocational and qualified theoretical training throughout its societies.
- Some sectors also providing contributions to organizations that encourage gender equality.
- Providing a program that supports mothers to participate and develop in the world of work.
- Providing employee benefits worldwide.
- Providing employee training and teaching with current programs.
- Organizing yearly seminars, professional guidance, and enhancement courses.
- Development
of facilities, lines and trades network and global influence.
- Executing advanced technological resolutions and tools in actions, customer service, and commercial conduct as well.
Figure 4 |
- Suitable rewards,
- Providing development and training opportunities for employees.
- Maintaining morale in the workplace, and implementing and monitoring adherence to government legislation.
- Acquisition.
- Development, and training of staff.
- The application of rewards to facilitate motivation.
- Recruitment and exit from the organization.
- Establishing a job requirements like tasks, responsibilities, skills, experience, and qualifications.
- Development of job descriptions.
- Person specification like personal characteristics suitable for the job description and job attraction and job satisfactions
This article provides a comprehensive overview of the impact of globalization on both business operations and human resource management (HRM). It effectively highlights the challenges and opportunities presented by globalization, emphasizing the need for organizations to adapt and evolve in order to thrive in a globalized marketplace. The integration of real-world examples, such as the case of ZIM integrated shipping company, adds depth and context to the discussion, demonstrating practical applications of globalization strategies in the business world. Additionally, the delineation of HRM responsibilities and practices underscores the critical role of HR in driving organizational success in a global context. Overall, this article serves as a valuable resource for understanding the complex interplay between globalization and HRM in today's business landscape.
ReplyDeleteThis article commit to paper proper way and it is important of any organization in current context
ReplyDeleteThe blog offers a thorough analysis of how globalisation has affected businesses all throughout the world, emphasising the need for leaders to adopt new ways of thinking and doing things.
ReplyDeleteNice selection of articles
ReplyDeleteThis Blog has well explain about Human resource management manages workforce, enhances efficiency, and contributes to organizational success. It involves developing, training, and motivating employees based on work groups, career opportunities, job satisfaction, and creativity.
ReplyDelete