The Impact of Globalization on Hr Practice - 6154 Words

Impact of Globalization on Human Resource Practice Nwadei Lucky, Department of Business Administration, University of Education, Winneba Ghana ABSTRACT Globalization is bridging barriers of communication, culture and commerce and one major area its impact is felt is how the world is becoming one marketplace. Multinational enterprises are the actors in this process and a major emphasis in many such organizations is the practice of Human resource which has been shaped tremendously by the impact of globalization. HR practice is changing and is been changed to reflect the changing face of people management. * Abstract * GLOBALISATION * Globalization defined * Globalization – A historical perspective * Drivers of†¦show more content†¦More generally, knowledge about production methods, management techniques, export markets and economic policies is available at very low cost, and it represents a highly valuable resource for the developing countries. GLOBALIZATION – A HISTORICAL PERSPECTIVE Since the word has both technical and political meanings, different groups will have differing histories of globalization. In general use within the field of economics and political economy, however, it is a history of increasing trade between nations based on stable institutions that allow firms in different nations to exchange goods and services with minimal friction. The term liberalization came to mean the acceptance of the neoclassical economic model which is based on the unimpeded flow of goods and services between economic jurisdictions. This led to specialization of nations in exports, and the pressure to end protective tariffs and other barriers to trade. The period of the gold standard and liberalization of the 19th century is often called The First Era of Globalization6. The First Era of Globalization is said to have broken down in stages beginning with the first World War, and then collapsing with the crisis of the gold standard in the late 1920s and early 1930s. Countries that engaged in that eraShow MoreRelatedQuestions On Strategic Human Resource Problems1011 Words   |  5 Pagesmethods of dealing with the deficits recorded. Further, the human resource manager has several opportunities that allow them to increase the company’s profits by using methods such as strategic outsourcing. The knowledge out there is sufficient for any HR manager looking for ways of expanding the work force within the organization. As technology continues to shift, outsourcing parts of the company’s subsystems continues to expand on a daily basis as the unexploited potentials continue to present themselvesRead MoreBackground And Culture Of Mexico1209 Words   |  5 Pagesindustry for the country as well. 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