Essay about Globalization and SC Johnson - 1550 Words

Globalization is the shift toward a more integrated and interdependent world economy (Hill, 2005). Globalization has several different areas including the globalization of markets and of production. The Globalization of markets is the blending of different markets from different nations into one large global marketplace. Cross-border trading has made it easier to sell internationally. Companies can sell standardized products efficiently and effectively all over the world thus helping to build a global marketplace. The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labor, energy,†¦show more content†¦There are many major drivers for globalization. There are two factors that seem to drive the trend toward greater globalization. The first factor is the decline in international trade barriers that has occurred since t he end of World War II. Once the barriers were removed then international trade had a chance to grow and change the economy to a more global one. Tariffs were fees charged on top off the cost of imported goods. The hope was to deter people from choosing the imports, instead choosing the domestic goods. Once the tariffs were stopped, many more people were able to buy and sell imported goods. The second factor is the numerous technological advancements in recent years pertaining to communication, information processing, and transportation technologies. The development of the microprocessor was a huge step forward in computing technology. The microprocessor allowed growth of high powered, low cost computers that could handle much more information than ever before. This enabled countries to grow their education and manufacturing capabilities greatly in order to compete in a global market place. Lastly, containerization has forever changed the transportation business by lowering the costs of shipping goods over long distances. Before containerization, it cost time, money, and labor when shipping items over many miles. In the 1970s and 1980s, once containerization took charge, thenShow MoreRelatedCross Cultural Management Research6745 Words   |  27 Pagesrequired to view the video in entirety. Bank of America understands fully that the organization is dealing with a global customer base, and that in order to be successful the organization will have to employ workers from all over the world. Both SC Johnson and Citi have embraced diversity and realize a major advantage of diversity is the enhancement of creativity, better decision making, and more effective and productive performance (Hodgetts, Luthans, Doh, 2005). 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