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Challenges To Globalization

globaization

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JULIANA MARTILLANO
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25 views1 page

Challenges To Globalization

globaization

Uploaded by

JULIANA MARTILLANO
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CHALLENGES TO

GLOBALIZATION
GLOBALIZATION IS THE PROCESS BY WHICH
BUSINESSES OR OTHER ORGANIZATIONS
DEVELOP INTERNATIONAL INFLUENCE OR
START OPERATING ON AN INTERNATIONAL
SCALE.
MORE SIMPLY, GLOBALIZATION REFERS TO AN
OPEN FLOW OF INFORMATION, TECHNOLOGY,
AND GOODS AMONG COUNTRIES AND
CONSUMERS. THIS OPENNESS OCCURS
THROUGH VARIOUS RELATIONSHIPS, FROM
BUSINESS, GEOPOLITICS, AND TECHNOLOGY TO
TRAVEL, CULTURE, AND MEDIA.

CHALLENGES OF GLOBALIZATION
Although it offers many different benefits, it also has
challenges.
1. International Recruiting
2. Managing Employee Immigration
3. Incurring Tariffs and Export Fees
4. Payroll and Compliance Challenges
5. Loss of Cultural Identity
6. Foreign Worker Exploitation
7. Global Expansion Difficulties
8. Immigration Challenges and Local Job Loss

RECRUITING AND EMPLOYEE IMMIGRATION


Countries/companies must know the market’s demands for salaries and
benefits to create competitive offers. to confirm successful hires, HR
teams must think about challenges like time zones, cultural differences,
and language barriers to seek out an honest appropriate the corporate.
Also, in some countries, it's extremely difficult to secure visas for
workers that are foreign nationals.

TARIFFS, EXPORT FEES, PAYROLL AND


COMPLIANCE
Incurring tariffs and export fees—29% agreed this is often a challenge for global
businesses. For companies looking to sell products abroad, getting those items
overseas may be expensive, looking on the market. Managing overseas payroll
and maintaining compliance with changing employment and tax laws. This
management task gets even tougher if you’re trying to manage operations in
multiple markets.

LOSS OF CULTURAL IDENTITY AND


FOREIGN WORKER EXPLOITATION
The success of certain cultures throughout the globe caused other countries
to emulate them. But when cultures begin to lose their distinctive features,
we lose our global diversity. On the opposite hand, Lower costs do benefit
many consumers, but it also creates tough competition that leads some
companies to go looking for affordable labor sources. Some western
companies ship their production overseas to countries.

GLOBAL EXPANSION AND IMMIGRATION


AND LOCAL JOB LOSS
Global businesses must continue with different and ever-changing labor laws
in new countries. When expanding into new countries, companies must bear in
mind of a way to navigate new legal systems. Otherwise, missteps result in
impediments and severe financial and legal consequences. Many countries
round the globe are tightening their immigration rules, and it's harder for
immigrants to search out jobs in new countries. This rise in nationalism is
principally because of anger from the perception that foreigners fill domestic
jobs or at companies moving their operations abroad to avoid wasting money
on labor costs.

FACT ABOUT GLOBALIZATION


Many scholars say it started with Columbus's voyage to the New World in 1492. People traveled to
nearby and faraway places well before Columbus's voyage, however, exchanging their ideas,
products, and customs along the way. Globalization has many benefits, like the increased flow of
products, services, capital, and folks across borders. This has resulted in increased trade and
investment, which has led to higher economic process rates and improved standards of living
round the world. Though it should have plenty of challenges, we cannot deny the very fact that
globalization had impacted the globe plenty in many alternative ways.

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