Management of Global Business

Globalization�the spread of economic innovations around the world and the political and cultural adjustments that accompany this diffusion�appears to be unstoppable. The reason is because globalization it is not the result of a planned activity by government or military power "toward ever larger geopolitical entities. Nor is it the product of some growing ideological conformity on how we should live. It is, rather, the organic result of the virtuous cycle a, by which economic convergence and the diffusion of innovation raise standards of living over time" (Lewis & Harris, 1992, p. 114).

In this context, globalization has been occurring in some form for the last three millennia. The Phoenicians "spread innovations almost entirely through the movement of products (trade) to small centers of development scattered around the Mediterranean. The diffusion of process technology followed after�sometimes centuries later" (Lewis & Harris, 1992, p. 114). Although the speed of diffusion among Europe, North America, and Japan had increased by the first half of the 20th century, it was still limited almost entirely to trade in manufactured goods because of dissimilarities in the way people lived and the relative economic unimportance of trade in services. What is new about globalization in the contemporary period is that innovations occurring within any of the developed economies can be transferred to and adopted within any other develo

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hain, the use of management systems which help to make the operation flow lean, and the use of information technologies (Mitchell, 1995, pp. 364-382). The choice of suppliers in international markets makes it possible to reduce costs and improve the quality of acquired materials. Finally, as far as production is concerned, the generation of economies of scale can be realized either through the concentration of all production activities or through the construction of a number of plants according to the logic of specialization. Production in decentralized plants can favor the attainment of various objectives: low cost, learning economies, the establishment of a company in foreign markets, the introduction of new products, and technical leadership (Gulati, 1995, pp. 85-112). The coordination of decentralized units is fundamental in obtaining competitive advantages. These advantages derive more from how the company manages the various activities than from where these are located. Coordination among development centers allows an exchange and increase in technological expertise, while coordination in the purchasing of materials makes it possible to obtain economies of scale and create a base for long-term agreements with supplie

Category: Business - M