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EXECUTIVE SUMMARY

Globalization describes an ongoing process by which regional economies, societies, and cultures have become integrated through a network of communication and execution. Globalization is often term or refers to economic globalization i.e. the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. The driving forces of globalization are a combination of Economic, Technological, Socio-cultural and Political factors .Scholars indicate the increasing economic integration and interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital. It can be said that globalization is the door to global resources that opens up to the international market.

Economic and financial globalization and the expansion of world trade have brought substantial benefits to countries around the world. But the current financial crisis has put globalization on hold, with capital flows reversing and global trade shrinking. There are countless indicators that illustrate how goods, capital, and people, have become more globalized. With the continuing growth of globalization, companies need to pay careful attention to selecting and managing people who may become their global managers. The best way to achieve this is by coming up with a clear concept of what constitutes such a manager. But the examination of a wide set of possible characteristics indicates that there seems to be no distinct set of such individual qualities, so there is no consistent way to point out what a global manager is.

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CONTEXTUAL BACKGROUND

Globalization is a process that has been going on for the past 5000 years (Tehranian, 2005), but it has significantly accelerated since the demolishing of the Soviet Union in 1991. The many meanings of the word globalization have accumulated very rapidly and recently, the verb globalize was first attested by the Merriam Webster Dictionary in 1944. In considering the history of globalization, some authors focus on events since the discovery of the America in 1492, but most scholars and theorists concentrate on the much more recent past (www.globalpolicy.org).

According to Friedman (1999), globalization is:The inexorable integration of markets, nation States and technologies to a degree never witnessed before- in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than before, the spread of free-market capitalism to virtually every country in the world. On the other hand, a great number of economists assert that globalization, as an on-going historical process that reached its apex toward the end of the 20th century. This process leads to the increasing integration of the production of goods, services, ideas, culture, communication and environmental pollution on a world-wide scale, imparting locality of populations and labor.

Authors Theory on Globalization. 1. Allan Rugman Alan Rugman, who defines globalization as "the activities of multinational enterprises engaged in foreign direct investment and the development of business networks to create value across national borders".( A New and Radical Analysis of Globalization and what it means for business, Dr Alan Rugman, Random House Business Books, May 2000, ISBN 0-7126-8475-1.)

2. Charles Hill Charles Hill defines globalization as The shift towards a more integrated and interdependent world economy. Globalization has two main components the Global of markets and the Globalization of Production.
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3. Theodore Levitt The term globalization was first used in 1985 by Theodore Levitt in the globalization of markets (Kanteow, Challenging the myth of industrial obsolescence, Newyork: John Wiley& sons; 1985 pg no 53-68) Levitt used the term to characterize the vast changes that have taken place over the past two decades in the international economy- the rapid and pervasive diffusion around the world of production, consumption and investment of goods, services, capital and technology. From this perspective, the systems of values, beliefs, and the pattern of identity of dominant and the subordinate groups within a society are important elements to explain national characteristics in economic and social terms (Weber, The Protestant ethic and the spirit of capitalism). For the globalization position, this statement from the Weber an theory from the 1920s must apply to current world conditions especially in terms of the diffusion and transference of cultural values through communication systems that are increasingly affecting many social groups in all nations. With the continuing growth of globalization, companies need to pay careful attention to selecting and managing people who may become managers. Manager A person who is responsible for coordinating resources and the actions of others for the achievement of goals. ( Timms and Abell, 2002 ). According to me a manager is a person responsible for the work performance of group members. A manager holds the formal authority to commit organizational resources. Local Manager: According to me Local manager is defined as manger that can control his business under the national border of the country and nation. Global Manager: The rapid growth of globalization has created a boundary less organization. To manage such an organization, there is a need for a global manager, one who manages across distances, countries and cultures. Considered by some authors to be a myth, wider research, readings and understanding suggest its existence. There are certain criteria which define a global manager, which are truly essential to successful manage in the international context. These managers are invaluable to the organization as they provide the competitive edge. However, there has been shortage of such global managers due to the recruitment of such managers only from the home country of the organization. This is created a limited pool of next generation managers. With the changing trend, organizations have been emphasizing on the recruitment of managers from home
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country and third nation country. Women, too, are being considered. The major challenge facing global organizations is attract and retain such global managers. ( Barlett, C.A., S. Goshal (2003), What is global manager, Harvard Business Review, v 81, pg 101) Global Manager is myth or Reality: Harvard Business School Professor Christopher Bartlett, author of managing across borders (Harvard Business school press, 1989) and Transnational Management (Irwin 1992), has thought a lot about working overseas he is also done it. Before becoming a global guru, he argues that mythic global manager doesnt quit match up with the reality of working overseas. Myth 1: Global manager are important specialists at the top of the company. Reality: Smart companies recognize that middle level people should go global. Here author is saying that middle level people is very much involve with people so they can easily understand the buying behavior of the consumer or the employees. Not just for increasing sales but need to exposed in all aspects of the company. Review: According to me the statement given by author is very much true. As author said that middle level people is very much involves with the local people so the middle level people have more knowledge about the wants and needs of the consumer or employee so they can control the situation easily. And if the employees and consumer get whatever they needs automatically Company can increase their sales and profit also. Myth 2 : Networking with the expatriate community is critical. Reality: The author is saying that you can take an overseas assignment to grow your skills expand your network, increase your creditability, example if you are working in Malaysia you will try to keep good relation with Malaysian buyers and suppliers. This are the relation that help in succeed.

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Review: Yes, I do agree with author view it is very needful if you want to show your skill you should have to take an overseas assignment and increase your creditability and expand your network so it will help in your business. If your relation is good with your supplier they can supply goods on time. And better relation with customer brings higher profit to your organization or company. Myth 3 : You should not take an overseas assignment until you have enough seniority to make a difference. Reality: The author said that the sooner you go, the better it means go when you are young when you can build network that stay with your whole life, and when you return back ask the question like have I added skills to my port folio ? Have I made new and better relationship? Have I increase my creditability within the company? Those things are critical at the time of overseas assignment. Review: I go with author view that it is better to take overseas assignment as soon as possible. But before market conditions are also been viewed before taking any assignments.

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LITERATURE REVIEW-

TEXTBOOKS.

1. Global management -S.A.Sherlekar (1997) Global corporations can take all benefits of global business operations and opportunities. They raise capital for their business throughout the world and global managers have deal with knowledge employees having different cultures, education, values and beliefs. Global management issues involve flow of people, goods & money crossing national boundaries. The author is talking about the Global business operations in which global managers have to handle different managerial skills set employees and different cultures peoples and work in different countries effectively and efficiently. My review: According to me, I surely agree with the above author, that global managers deals with different cultures, education, values because doing business not only includes transfer of goods and services, capital technology but also managerial skills knowledge and technical knowhow to benefits to global business operations which global managers do.

2. International business by Dr.R Chandran Globalization occurs because specific managers in specific companies make decisions that result in the increased cross- border flow of capital, goods and knowhow managers are increasingly making such decisions because globalization is becoming feasible and desirable In this, Dr .R Chandran goes with the view of reality and conveys that different managers make different decisions due to globalization, since it is becoming more feasible and desirable. My review:

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3. Essentials of Management- Andrew Dubrin The Global leader manages across distance, country & cultures. To be effective as a global leader, the manager must inspire others, such as getting workers in another country excited about the future of the MNC. A global manager must show good initiative & be oriented towards successes. The author is talking about managerial workers that occupying leadership positions needing to develop global leadership skills, the ability to effectively lead people of other cultures. The initiative and leadership skills are perhaps the most important skills according to me that a global manager has to have in order to lead and develop sync with the employees internationally. One has to inspire more internationally than domestically due to the cultural difference factors & also as the employees might not feel a connection in working with a foreign country.

4. Management A global & Entrepreneurial Perspective Heinz Weihrich(et al) The study of global management focuses on the operation of international .Managers involved in international business are faced with many factors that are different from those of the domestically oriented firm. They have to interact with employees who have different educational and cultural background, they must also cope with different legal ,political, economical factors. Review:

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JOURNALS 1. International Journal of Organizational Innovation: A challenging area for global managers is the encoding and decoding of messages so that their original meaning is interpreted in the correct way. Global managers are required to consider the number and languages of the nations they shall be working with and the degree of interaction with host country nationals. Global managers are required to step outside of their culture and see it from the perspective of a non home-country national. Review: Global managers should have the quality of understanding of different nations languages. Also as the name itself indicates global i.e. globally he should be able to communicate / exchange the views, ideas with others. Also global managers while achieving something they have to deal with different cultures.

2. The Care and Breeding of Global Managers: It is a rare US multinational that has not devoted considerable thought to the question of developing global managers. However, there are more consensuses on what global managers are than on how to breed them. Most companies would not argue too much with this definition: Global managers have a strong interest in and tolerance for other cultures and understand how a particular decision might affect a company's markets or competitors around the world. Yet at issue is how such understanding can be created. Global companies are spending more time trying to figure out what attributes produce the kinds of employees who can succeed in another culture. When the Conference Board, a business research firm, surveyed companies on this question, it found certain uniformity among US and non-US companies. The 2 success factors that tied for first place were knowledge of the business and a high degree of tolerance and flexibility. The 3rd success factor on the list was the ability to work with people. The Colgate-Palmolive Co. looks for 5 things in potential candidates for global managers: 1. work or education overseas, 2. proficiency in a language other than English, 3. computer skills, 4. adaptability and 5.Some marketing, sales, or entrepreneurial experience.

Review: Some companies believe that the only way to cultivate a global manager is to let him/her conduct business in as many foreign milieus as possible. Others think a global manager is merely a person with a global perspective, which can be developed almost as easily in a training class as in a foreign outpost

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3. The Qualities a Global Manager: One of the most important qualities of a global manager is the ability to be flexible enough to understand how things are done in a culture other than his own. When you work with people from many countries, you need to open your mind to new possibilities and new ways of thinking. You may not necessarily adopt those ways, but you need to at least be able to listen and consider an alternate point of view. Review: According to me Global managers must have qualities of abilities to see through things and prepare for the future is what is needed and also they should know where they stand today where they want to go & how to get there. According to me, some of the best global managers in India are I find Azim Premji and Narayan Murthy to be truly exemplary and they are excellent global managers

4. Global managers' career competencies. Global manager work as worldwide coordinators who need to understand the worldwide business environment from a global perspective ([1] Adler and Bartholomew, 1992). Among several other studies, Rhine smith (1993) defined this as the global mindset, instigating individuals to drive for the broader picture, balance paradoxes, trust process over structure, value differences, manage change, and seek lifelong learning. These characteristics question the relevance of knowing-why competencies related to vertical career progression as found in expatriate studies. Rather, individuals may look for more intrinsic factors when taking up a position as global managers as the complexity of this position asks for personal motivation. Second, global managers need to work with a multitude of cultures simultaneously (Adler and Bartholomew, 1992; Pucik and Saba, 1998), which increases the level of international exposure and challenge in their work Review: Global managers career competencies are consider as of great importance. They are predominantly attracted to a position as a global manager because of values that it represents, not only work-life balance as a main value, but at same time international exposure, professional identification and the center of decision making.

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5. European leadership in globalization

Percy Barnevik, president and CEO of Asea Brown Boveri (ABB), responded when asked if there is such a thing as a global manager:" Global managers are made, not born. This is not a natural process. We are herd animals. We like people who are like us. But there are many things you can do. Obviously, you rotate people around the world. There is no substitute for line experience in three or four countries to create a global perspective. You also encourage people to work in mixed nationality teams. You force them to create personal alliances across borders, which mean that sometimes you interfere in hiring decisions.

Review:

6. Six Traits of Global Managers

There are 6 mandates global managers need to follow in order to successfully respond to business forces. The first is to develop a shared vision and strategy. In this step, communication with employees is essential because it builds commitment and aligns individual goals with company goals. The 2nd mandate is to prompt the organization to respond to changes. The 3rd mandate is to expect continuous improvement. This applies not only to goods and services, but also to every activity in which the manager and the organization are involved. The 4th mandate is to develop a multicultural perspective. The workforce is becoming more diversified, and global managers might want to rethink how they manage people. The 5th mandate is to empower individual employees to accept more responsibility, and the 6th is to build team performance. Review: I agree with the 6 mandates of global managers which are stated above because global manager has an international experience and expertise, adaptability to other business culture and has the capability to do these things even if this company is not making necessary cultural changes and all above quality makes a global manger.

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MAGAZINES

1. Global Manager: The Needed Skills G.P.Sudhakar (Business Gyan Jan-06) Indian economy is growing day by day. Many industry specific companies are becoming conglomerates. Yearly, we are adding thousands of people to our work force in IT, BPO (Business Process Outsourcing) and ITES (IT Enabled Services) sectors. There is lot of requirement for skilled professional managers in these industries in India. In all these industries, people are working for Fortune 500 clients. Customer relationship management became a challenging task for senior managers. Usually customer interaction wont be there in early stages of career in IT industry. When an engineer becomes a project manager or program manager, he has to interact with the customer in his day to day activities. To manage the customer, and to lead technical teams, one should have good leadership, managerial and administrative skills. In this article, I would like to discuss some of the skills needed to become a global manager in this high technology era. There are basic skills needed by a global manager. Leadership Skills, Mentoring Skills, Communication Skills, Presentation Skills, Marketing Skills are compulsory for a global manager. The global manager should be committed towards deliverables. He should always try to get good customer satisfaction index and to make customer delight. A global manager should be aware of social, political, technological and economic environment of his business. He should be aware of the companys internal strengths and weaknesses. He should also be aware of the external opportunities and threats for his business. Review: Here the author tells about the skills set needed to become global manager and also factors with which global manager deals. According to me other than above mentioned skills they should also have culture and managerial skills. Successful mangers tend to be good at acceptable behaviors and avoid unacceptable behaviors. Lessons from past managerial experience in other countries have little value in other cultures. Success & Failures in the past will be repeated elsewhere, before learning the local implications.

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2. The global manager: Anusha Subramanian (Business Today: July 2008) For most managers, the first challenge in their global journey is to understand local cultural nuances and ensure relevant adaptability of approach. It is imperative to be sensitive to and respectful of cultural diversity, says Natrajan. Industry players say that true global managers adopt a consumercentric approach when it comes to running overseas operations. This magazine article names the global manager of Indian origin who have successfully managed to become a true global manager and have helped their company grow as a international organization.

3. The End is where we start From: Aroon Purie (Business today: Jan 2011) The end of the developed world's dominance is where an opportunity for development starts from. So what if infrastructure is still poor - somebody has got to build it. And that in itself is a trillion-dollar opportunity. No manager worth his MBA degree would want to miss out on such excitement. That is why so many Indians who fled to the West performs are returning in droves don't miss our section on the Prodigals. It can't be just a longing for home: successful global managers go where the growth is, and where it is likely to be next. That also explains why foreign CEOs not of Indian origin, too, are eager for postings in India. This article explains the Indian perspective for global business and the Indian manager opportunities in outside India.

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INTERNET REFERENCES 1. Global manager: A myth or reality? (Financial Express, March 01, 2004) Speaking to FE, R Gopalakrishnan, executive director, Tata Sons Ltd said that global managers are made not through inherent quality but ones which are acquired. There are three or four criteria which make global managers. They are the awareness of the world beyond your realm, need to gain exposure, comprehension of the fact that the information is relevant for me as well and conviction. This article was also published in the Financial Express. It goes on to explain the qualities needed & how one becomes a global manager.

2. International human resource management: managing people in a multinational: Multinationals depend on being able to develop a pool of international operators from which they can draw as required. Such individuals have been variously labelled International Managers or Global Managers It tells about the definition of global managers and further it goes on with the myth of global manager.

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A successful global manager cannot be overwhelmed by travel, time zones and cultural differences. She has to be emotionally much more resilient than her local counterparts to deal with the highs and lows caused by project surprises that are likely to occur more often in global projects. The ability to meet and deliver on the expectations of customers and stakeholders implies that global managers must be given more autonomy to make decisions based on conditions on the ground. While technology has made it much easier to manage across distance, countries, and cultures it is no substitute for global managers who must invest the time to understand not just the local cultures and the markets, but more importantly be able to manage "team mosaic" woven from very diverse work habits, social norms and traditions of the people who make up the global enterprise.

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books

A New and Radical Analysis of Globalization and what it means for business, Dr Alan Rugman, Random House Business Books, May 2000, ISBN 0-7126-8475-1.
MAGAZINES http://businesstoday.intoday.in/story/the-global-manager/1/2477.html http://www.businessgyan.com/node/1005 journals 4. Adler, N.J. and Bartholomew, S. (1992), "Managing globally competent people", Academy of Management Executive, Vol. 6 No. 3, pp. 52-65. Pucik, V. and Saba, T. (1998), "Selecting and developing the global versus the expatriate manager: a review of the state-of-the-art", Human Resource Planning, Vol. 21 No. 4, pp. 40-53.

5.

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Taylor, W., "The logic of global business: an interview with ABB's Percy Barnevik", Harvard Business Review, March/April 1991, p. 95

13. See Weber, M. Economa y sociedad. (Mxico, D.F., Mxico: Fondo de Cultura Econmica, 1987), especially pp. 8-16 and 23-54. 14. See a classical text on these issues in Weber, M. The Protestant ethic and the spirit of capitalism. (New York: Scribner, 1988).

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