globalization and competition trends
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Welcome to
Human Resource Management
Introduction to Human Resource
GLOBALIZATION AND COMPETITION TRENDS
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Globalization refers to companies extending their sales,
ownership, and/ or manufacturing to new market abroad.
For example, Marriott International, Inc., is a global
leading lodging company with nearly 4,500 properties in
87 countries and territories
(http://www.marriott.com/marriott/aboutmarriott.mi).
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Globalization compels employers to be more efficient. More globalization means more competition, and more competition means more pressure to be “world class”- to lower cost, to make employees more productive, and to do things better and less expensively.
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The search for greater efficiencies prompts many employers to
offshore (export jobs to lower-cost locations abroad). Many
employers offshore even highly skilled jobs such as sales managers,
general managers, and HR managers.
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For 50 or so years, globalization boomed. Changes in economic and political philosophies drove this boom. Governments dropped cross-border taxes or tariffs,
formed economic free-trade areas, and took other steps to encourage the free flow of trade among countries.
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What is another trend in globalization? YES, it’s deregulation