Globalization Effects in the Business World

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Globalization Effects in the Business World

Globalization can be defined as the process of rising confederacy in the global economic organization through minimization of obstacles to global trade and their alteration to tax exporting expenses and import quotas (Scholte, 2000). The purpose of globalization is to increase the level of goods and services through global labor distribution by competencies that are activated by global networks. It involves local economies, communities and different cultures being incorporated through the process of communication, mobility and business. The process of globalization is boosted by several factors including technology, culture, socialization and politics among others (Scholte, 2000).

Globalization is significant in the aspect of business because it ensures that the various businesses and their different markets are financially stable in a spectacular manner. This has led to many industry analysts becoming puzzled on the influence of globalization based on decreasing political and economic unpredictability (Daniels, Sullivan & Radebaugh, 2002). Globalization has also dissolved national boundaries of business and hence encouraged open trade, which has improved financial incorporation and sharing of important information between several global businesses. In addition, globalization has encouraged the incorporation of information technology in enhancing business communication and hence increasing competitive advantages in several businesses within the market (Daniels, Sullivan & Radebaugh, 2002).

. Globalization aligns with project management because of its influence on certain factors that determine the development of a business project including international trade and political concerns. For example, before a business decides to involve their project in any market or industry, it is required of the manager to examine certain political factors including whether the country’s government analysis on foreign investment of certain products is excelling in the global market (Mishra & Soota, 2005). Globalization has also led to the integration of several projects of different cultures through the influence of information technology by enhancing exchange of significant ideas and information that leads to the success of the business.

In searching for information on this project, several sources and research methods were used in order to extract useful data. For example, a visit to the school library in order was important in obtaining different books, journals and other business related articles that had relevant information on globalization and business. In addition, I also used the internet in order to get different views other than those provided in the library sources on globalization and project management. After carrying out my research, I was able to identify certain resources that assisted me in getting useful information on the related topic. The main materials that were of great use to my research included online articles, journals and different textbooks.

The main purpose of conducting this research project is to learn on the concept of globalization and business and its impact on business in the area of project development. In addition, the research also enables one to acquire skills on incorporating important factors of globalization when participating in project development within an organization. The main departments to be investigated within an organization include project management, marketing and sales. One of the hypotheses to be generated in the research may be based on how globalization has influenced the development of projects in several businesses. The result of the research project is not known at the beginning but it is determined after the results of the research process have been identified.

The research project is being carried out for various organizations who may want to borrow or learn from several significant ideas of globalization that will assist them in project management. Some of the ethical issues that are involved in this research include accountability whereby information obtained is needed to be trustworthy and reliable in order to be of significant use to the organization. This will be made possible by using material sources of research that are valid and dependable. The other issue includes trust and it involves using information from research that can be trusted as being appropriate to the organization. This can also be looked at by searching for correct information concerning the related topic that can be trusted by the organization. .

References

Daniels, J. D., Sullivan, D. P., & Radebaugh, L. H. (2002). Globalization and business. Upper Saddle River, NJ: Prentice Hall.

Mishra, R. C., & Soota, T. (2005). Modern project management. New Delhi: New Age.

Scholte, J. A. (2000). Globalization: A critical introduction. New York, NY: St. Martin’s Press.