 What is Globalization?

 Answer:- Globalization describes the process by which regional

economies, societies, and cultures have become integrated through a
global network of communication, transportation, and trade. The term can
also refer to the transnational circulation of ideas, languages, or popular
culture through acculturation.

 What is Global awareness?

 Answer:- It is a process of learning Management principles(by organising

management development programmes ), analysing present trend and
situation with optimism and learning new ways and practicing them in
accordance to the management principles.

 DEVELOPING GLOBAL AWARENESS:-

To be globally aware is to have

1) Tolerance of Cultural differences.

2) Knowledge of Culture and History.

3) Knowledge of world market.

4) Knowledge of Economy , Social and Political Trends.

5) Knowledge of Geography.

1)Tolerance of Cultural differences:-

 Tolerance of understanding cultural differences and accepting and working

with others whose behaviours may be different from yours.

 For example:- the fact that punctuality is less important in some cultures
does not make them less productive, only different.

2) Knowledge of Culture and History:-

 Knowledge of cultures is important in understanding behaviour in the

marketplace or in the boardroom.

 Knowledge of history is important because the way people think and act is
influenced by their history.

 Example:- Some Latin Americans’ reluctance about foreign investment or

Chinese reluctance to open completely to outsiders can be understood
better if you have a historical perspective.

3) Knowledge of world market.

 Over the next few decades enormous changes will take place in market
potentials in almost every region of the world, all of which a globally
aware organisation must continuously monitor.

 Example:- Inspite-of price rise of Gold in this festive season all India Gold
import have risen.

4) Knowledge of Economic , Social and Political Trends.

 A globally aware organisation will keep abreast of the global economic,

social, and political trends because a country’s prospects can change as
these trends shift direction or accelerate.

 Example:- Recent economic downfall ,Fraud in Satyam company,

Nuclear deal between India and U.S.A .

5)Knowledge of Geography.

 A globally aware organisation should have the knowledge about the

Geographical location of the place where it is going to operate.

Example:- In urban areas most of the people are educated incompare to rural
areas. So News papers like Times of India, ET are available easily at Urban
area.

STRATEGIES FOR MANAGING GLOBAL AWARENESS :-

1) The obvious strategy is to select individual managers specifically

for their demonstrated global awareness.

2) Global awareness can also be obtained through personal

relationships in other countries.

3) The most effective approach is to have a culturally diverse senior

executive staff or Board of Directors.

ADVANTAGES OF GLOBAL AWARENESS :-

1) Open system view of organizations.

2) Development of dynamic and adaptive nature in organizations.

3) Multilevel, multidimensionality of organization.

4) Organizations giving respect to social and humanitarian values.

5) Intellectual Property Rights raises on Worldwide.

6) Economic growth of the organization.

THREATS OF GLOBAL AWARENESS :-

1) Threat to security of confidential matters in the organizations.

2) Sometimes it is eronious to personal values and moral.