Globalization and International Business Globalization Term Paper

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3. Technological Changes

It is generally agreed that the technological revolution of the past few decades has had major contribution to the globalization of markets and productions. In New Technology and Catching Up, Freeman has gone as far as to state that the new technological changes represent a revolution as important as the textile innovations in the late eighteenth century, the invention of railways in mid nineteenth century and the flourishing of the chemical industry in the early twentieth century (Freeman, 1989).

Basically, the technological innovations have supported the unification of international markets as it eased communications and the data sharing process between players on the economic stage. "The revolution in information and communications technology involves a constellation of industries, such as computers, electronic components and telecommunications. These are among the fastest-growing industries in most leading industrial countries. The new technology has not only resulted in the introduction of a wide range of new products but, more importantly, has produced a drastic fall in costs and vastly improved technical performance in many other sectors of the economy. Of equal significance, the new technology is bringing about fundamental changes in the organization and structure of firms and industries, and changes in factory lay-out and in the management structure, procedures and attitudes of large firms" (Singh, 1994)

Ricardo's theory of Comparative Advantages has also been implemented in the technological sector in the meaning that countries began to trade technological appliances as to increase the efficiency of their operations and reduce costs. A most relevant example in this sense is given by the large amounts of technologies produced in India and then sold onto international markets.

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4. Organizational Culture and Global Management

The development of a strong corporate culture is now a constant in the life of any business and it represents the generic description of the organization in terms of business model and corporate goals. Most companies state that their corporate culture revolves around the complete satisfaction of the customers' needs through the implementation of the latest technologies and the full compliance with the regulation imposed in regard to environment and human rights protection. This culture does not entirely change in the context of global operations and the basic challenge is to manage to somewhat outsource the culture to the foreign subsidies. In this understanding of corporate culture, the company has to create a wide set of plants and all of them should be guided by the same corporate values and principles, in order to retrieve the same established goals.

However it is desirable for the corporate culture to be similar if not exact in all subsidies of one organizations, it is also true that corporate managers should adapt it to the features and requirements of each region. For instance, an organization will not open a subsidy in India and emphasize on the production and selling of high quality beef products.

5. Conclusions

The world and implicitly the economy we know today is the result of endless changes along the course of history. It all began with the textile innovations to boom with the industrial revolution and to explode with the technological revolution. Globalization is the current feature that defines operations in various domains and its effects are prone to grow even further......

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