Global Managers

Even though the world is so big in comparison on a human scale, it is becoming increasingly smaller as technology and transportation lead to globalization. Globalization has had several effects on the world, most importantly in the world’s market and economy. Two of the biggest effects include global responsibility of countries around the world and how managers of multi-national corporations manage such a diverse workforce.

As a result of a global economy there has been the rise of many internationally wealthy players such as China and India. But with the economic success of these countries, there has also been tremendous economic downfall in other underdeveloped nations. As a responsible global marketplace it is up to all countries on a global scale to help reduce these large deficits in economies around the world who have been hurt as a result of globalization. No one country should be left responsible to fix its own economy after it was taken advantage of by the global economic system. With the rise of globalization, came the rise of interdependency among nations which only shows how every country is interwoven in one way or another. Currently, there is a large trend in the marketplace which shows that many global markets have short term, nationalistic goals which needs to be reversed to a more holistic view because the global marketplace is one system that will be overall more healthy when all countries act together (Ali, 2008). If these nationalistic views were replaced with long term, global goals it will be exhibited how more opportunities will be available for companies to access more resources such as labor or new markets without exploiting economies abroad (Champy). These countries that are on top of the global economic ladder have a duty to provide support for those at the bottom and remove this notion of the invisible hand in the market.

In addition to countries assuming responsibility for markets on a global scale, managers of multinational corporations have needed to adopt new strategies to address complex cognitive challenges in foreign markets.

The first strategy is to understand that differences exist. As a global manager you cannot assume practices in one country will always work in another (Rifkin, 2006). For example, Wal-Mart opened in Germany but ended failing