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Essay on Globalization and Changes

Several years ago, the concept of globalization has filled the hearts of global community both with hope and fear – hope for better life and fear of losing identity.  Today globalization is no longer a myth and has become deeply rooted in multinational economy. Every individual willing to succeed in the global economy should be prepared for challenged and opportunities of the international markets.  Education, career, and investment decisions are impacted not by the home country economy but rather by the global trends.

First of all, it is not enough to have the knowledge only about the style of management practiced in the country we live.  Knowledge is getting global – being aware of different cultures, management styles and differences in preference of global markets is a big plus for the global employee.  Such international companies as Sony, IKEA, DHL has succeeded because top management has realized the need for global employees – those who are flexible, open-minded and discrimination-free.  These characteristics are of primary importance for the individual willing to integrate into global community.

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The Japanese career development style (life-long employment) is not acceptable in global environment, it does not offer the same benefits as new global markets do.  More and more companies are entering global market which is twice as competitive as national markets. For this reason, the career development of each individual depends on his own initiatives, his performance and willingness to cooperate.  The technological advances foster the global integration – the world is getting more and more inter-connected. It takes few seconds not only to connect to the person for voice communication, but also provides the possibility to share information in the form of writer documentation, video and sound files.  The ability to use these technologies is vital for all individuals.

Investing decisions are also greatly impacted by globalization.  When considering the investment package, more attention is being paid to international business units.  The domestic investments have proved to be less profitable, while the investment of funds into international business activities and developing countries is more common for modern business world.  Therefore, individuals should take advantage of the benefits offered by rapid expansion of businesses into global markets.

Globalization has created the unique opportunity for individuals to become cosmopolitan citizens, members of global community.  Each person should be prepared for the globalization and be willing to integrate into global economic markets. Being flexible and open for new experiences – these are the two factors that make this integration process much faster and more productive.

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