Globalization of Business

Globalization, an inevitable phenomenon in human history, has been bringing the world closer through exchange of goods and services, advancements in information communication technologies (ICTs), global diffusion of technologies, and cultural awareness. Recent developments and trends within the global business arena present managers with challenging situations. Competing in the twenty-first century and beyond requires firms to invest in the increasingly refined managerial skills needed to perform effectively in a multicultural business environment. Global companies are faced with varied and dynamic environments in which they must accurately assess the political, legal, technological, ethical, and cultural factors that shape their strategies and operations. The success of a company's global operation often depends significantly on the manager's cultural skills, as well as the ability to carry out the company's strategy within the context of the host country's business practices. While globalization is a vehicle for, and a consequence of human progress, it is also a confused process that requires change. The change process presents the manager with challenging strategic options. Globalization of Business: Theories and Strategies for Tomorrow's Managers addresses the above challenges. It offers managers and business students strategies on how to become globally competitive in a complex international management environment. Contributors to the volume offer their insights into the issues every global manager needs to understand such as the nature of the global business environment, entry mode choice, global strategic positioning, global human resource management, human rights and ethical issues. The book covers general as well as specific topics, including assumptions, theories, and practices of globalization. It is expected that the book will enable business students, managers and corporate leaders to avoid common drawbacks in their quest to build a successful global firm that will benefit all.