Globalization is a word that is all too familiar because it’s often used in the mainstream media or we read about it in different publications. So what is globalization?
Globalization can simply be defined as the process of going global. So when something has gone global it means that its reach is far and wide. When the trend of globalization came in the picture it had opened immeasurable opportunities. As this trend grew it gave way for International business and now has reached a peak in the corporate world.
For an organization to function in today’s day and age it is very important to understand the working norms, trends, opportunities, threats etc. of a different territory or nation. Permutations exist across national, ethnic or regional work cultures everywhere, even when people are part of the same organization overall.
An American employee would probably remain skeptical at first and wait to see how much time his French coworker dedicates to a lunch break. An Italian worker may be put off by the long silence of their Japanese teammate. We all work differently and our professional expectations, as well as our cultural values, highly influence the way our workspace is designed.
The trends of different countries could be very different from each other, something very commonly accepted in the U.S. could be very derogatory in another nation. As a working professional, it is very important that one understands and adapts to the trends around him.
Not just norms or trends, the opportunities, and threats of various geographic regions are different. A political matter could be very important for few countries and not very alarming for others.
Hence, it is crucial for a working professional to understand International business and global strategy. Join us to understand these nuances through our online course on “International Business Environment and Global Strategy.”
[This blog post was written by Dheeraj, Marketing Head, IIMBx]