Management and Organizations in Global Environment Globalization

Questions: 1.What would be some of the key drawbacks or risks of living in the flat world of globalization 3.0 as Friedman describes it?2.Do you agree with Friedmans iron rule of the flat world? Explain3.Is the level of globalization uniform across the world? Explain4.Has your view on globalization changed after listening to Professor Ghemawat? Explain5.Consider where you have seen the fears that people have about globalization. Do you think these fears may subside with some data points that may suggest otherwise? Answers: 1.There are several significant risks or drawbacks of living in the flat world of globalization as described by Friedman. The first drawback is that the flat world theory could result in executives misinterpreting the trends as observed from their businesses, which can, in turn, lead to them making strategic errors that are potentially serious (Friedman 2006, p. 7). Secondly, failure to follow a strategy that is aggressively localized; for instance, multinational firms executives mostly choose to wait out when it comes to emerging markets such as India and China (Wade 2004, p.570). The executives hold on to the wrong notion of the supply and demand sides flattening and converging with markets that are to develop soon. For instance, they may hold on to the belief that the retail environment in China will quickly merge, and as a result, fail to make their investments in local distribution channels that are today more appropriate for market conditions. However, such mergers have fewer c hances of taking place within any planning horizon deemed to be reasonable. Consequently, it could lead to missed opportunities in terms of profit and result to multinationals failing to check the competitors in advance from the markets that are emerging until it is already late (Schmuckler2004). 2. I disagree with Friedmans iron rule of the flat world. Quite to the contrary, the world is quite far from flat, and particularly in numerous industries where the curvature is to be retained for a while longer. As such, executives ought to be careful not to rely on Friedmans theory that is just superficial and flawed. Alternatively, they should adopt an analytical approach for the evaluation of the flatness of their world, both presently and in the future(Jullens 2013). In his book, The World Is Flat, Friedman has for the most part gathered personal anecdotes and observations to support his thesis. As a matter of fact, Friedmans thesis on the flatteners as he calls them, are categorized into 10 different structural changes that include supply chaining, offshoring, and outsourcing. In addition, he continues to write on two trends that he considers as being significant: the addition of consumers from India and China to the international marketplace who in number are as many as 3 billion and the adoption of business processes that are more collaborative. Friedman refers to this as the triple convergence through which he indicates to flattening the world within the past three or two decades and as a result eternally changed the game rules. 3. The level of globalization is not uniform across the world. Globalisation can be defined as the ways through which different countries all over the world can be integrated through political connections, business, and trade. Presently, most, if not all countries use technologically developed systems to communicate with other countries. As a result, communication becomes critical in the movement of countries sharing a connection towards globalisation. For instance, the United States outsources several jobs and contracts to countries such as Ireland, China, Mexico, Canada, Philippines, Russia, and India. The United States outsources to such nations because they can be able to save quite a lot given that most of these nations may provide cheap labor mostly because they have no laws against minimum wages. Because of lack of such laws, the level of globalisation can be observed as being uneven (Mourdoukoutas2011). However, in the case where there would be certain goals and laws set for globalization such as the liberal exchange of services, goods, thoughts, and labor, then there would be a chance of uniformity across the world. Therefore, since this is not the case, globalization can differ depending on several variables such as investments, trade flows, labor flows, and financial flows to mention the least(Mourdoukoutas 2011). Although it may appear like we are the inhabitants of a world that knows no boundaries and as such share goods, ideas, and people can freely move from one country to the other, the level of globalization is not uniform across the world. 4. Pankaj Ghemawat on Globalization After listening to Professor Ghemawat, it is clear that the world is not as globalized as most people think, it is, in fact, semi-globalised (Ted Live 2012). Across all borders, there are varying things that happen, and that ought to be looked at both domestically and at the cross-border then taken as a total percentage(Walters 2012). According to Professor Ghemawats talk on Ted Live (2012), acknowledging the facts as they truly are, we can be able to understand that there is room for improvement in terms of additional gains. Therefore, accuracy on the critical levels of limited globalisation is essential in identifying room for the contribution of additional welfare in globalisation. 5. Considering that overstatements are very significant since they are what causes fear in people as far as globalisation is concerned, they ought to be prevented. For instance, in a case where the citizens of France think that immigrants amount to a total of 24% of their entire population yet 8% is the actual figure. Perhaps the realization of the actual figure instead of the overstated figure can help to reduce the tension on a number of the people who are seen lingering around the issues of immigration (Walters2012). Therefore, I think that the fears people have about globalization may subside with some of the data points suggesting otherwise. Professor Ghemawat gives an example of immigrants and the way they are known to foster trade between their home country and the country they have migrated to. In such a case, GDP can be expected to go as high as 10%, although it would also be overlooking the fact that a number of people think it to be more of a controversy. Taking this into consideration, each year, globalization may grow by 10% compared to the previous year, though there is an idea as well of the economy growing even faster(Upennedu 2012). Conclusion In conclusion, the level of globalization is not standardized across the world. Globalisation is the approach through which different countries all over the world are integrated through business and trade. Currently, not all countries use technologically developed systems to communicate with other countries. Bibliography Friedman, T.L., 2006.The world is flat: The globalized world in the twenty-first century(pp. 3-543). London: Penguin. Jullens, J.2013.Strategy business.[Online].[8 April 2017].Available from: https://www.strategy-business.com/article/00190?gko=403fb Mourdoukoutas, P.2011.Forbescom.[Online].[8 April 2017].Available from: https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-and-the-ugly-side-of-globalization/ Walters , H.2012.Globalization and Globaloney: Pankaj Ghemawat at TEDGlobal 2012.June 27, 2012.Global Issues.[Online].[8 April 2017].Available from: https://blog.ted.com/globalization-and-globaloney-pankaj-ghemawat-at-tedglobal-2012/ Schmuckler, S., 2004. Benefits and Risks of Globalization: Challenges for Developing Countries. TED.2012.Ted Live.June, 17:00 Upennedu.2012.Knowledge@Wharton.[Online].[8 April 2017].Available from: https://knowledge.wharton.upenn.edu/article/not-that-flat-pankaj-ghemawat-challenges-globalizations-adherents/ Wade, R.H., 2004. Is globalization reducing poverty and inequality?.World development,32(4), pp.567-589.