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Economic Globalization And Organization Development Essay

1172 words - 5 pages

Globalization of the economy refers to the integration of the world economies whereby economies in the world are become more interdependence. This economic development is being achieved through cross-border movement of capital, services, goods, and technology. This trend is believed by many to be irreversible and economies will continue depending on one another. One of prominent economists who believe economic globalization cannot be reversed is Gao Shanguan. Organizational development efforts are the laid down plan that is supposed to spur the organization to achieve its goals. Economic globalization might influence organizational development on several ways, which might be positive or negative as discussed in this essay.
Economic globalization can lead to economic growth of an organization in that would not have been realized were it not for globalization of economy. This is one of the major objectives of organization development as well as a priority for many countries all over the world. This goal of growth in economy can be achieved through international trade, which involves many countries. Despite the obvious gap between developed and developing countries, economic globalization can manage to bring out positive results for both countries. Benefits arising from economic globalization can be shared among different organizations in various nations. When countries get involved in global trade, companies in those respective countries also benefit from such a move. Nations as well as business organizations are able to explore new markets and therefore increase their output leading to economic growth. Economic globalization can also lead to exportation of technology that will aid production process by increasing the units produced. Since this is also among organizational development efforts or objectives, countries will be able to achieve it due to economic globalization.
Another benefit that could arise due to economic globalization is poverty reduction across the globe. This is a major priority of many countries and it is symbolized by being part of its organization development goals. It is a common goal for all governments to reduce poverty level among their people. Globalization will enable this developmental objective to be achieved across the globe. Economic globalization will facilitate creation of employment opportunities in various industries since an increase in production will be witnessed. This will call for more people to work in those industries so that the desired output can be achieved. When countries participate in trade, there will be maximum utilization of resources as well as countries specializing in what they produce best and importing where they are weak. Through such a system, it will be easier for poor people to get jobs as well as for their income increasing. This has already been witnessed in several countries like China and Malaysia, which have recorded a rise in income among its poorest people (Dollar& Kraay,...

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