What effect does globalization have on managers and how they respond to it
Globalization is a multi dimension policy framework with a focus on the liberalization of trade and investment regime. It is reshaping our economic, social, cultural and political values. With its edifice premised on the four pillars of technology, trade, and investment and financial flows.
We can say globalization process involves the tendency of firms to extend their sales, ownership and manufacturing to new markets abroad. Due to this tendency the management has no longer restrained to the national borders of a country. The managers of organizations of all sizes and types throughout the world are confronting with new challenges in this context. They are therefore trying to adjust themselves in this new complex environment of globalization. Their success depends upon the successful tackling of this issue.
An effective manager of today must have a vision, must know the culture, tradition, political aspects, purchasing and other trends etc of a country and it is very easy now a days because of fast media and internet, should take challenges and be flexible enough to act on changes at the speed of a speedboat whether decisions are traditional or alternative.