er tolerance for individual differences, and an understanding of cultural biases that does not yet exist on a widespread scale.
This increased globalization is likely to lead to new ways of doing business; certainly the traditional business strategies that resulted in large multinational organizations that ignore the different environments in which they operate will no longer suffice. Instead, corporations need to consider all of their stakeholders: customers, employees, vendors and shareholders. Each of these constituents has a stake in the organization, and the corporation must be responsive to all of them, not merely to the shareholders. Because of the increased competition that globalization brings with it, failure to take all of these constituencies into account can result in an overall loss to the organization. The corporation must also recognize that they are less important than the individuals who compose them, and that the corporation needs to see itself as an integral part of the community, or communities, in w
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