What effect does globalization have on managers? How can one respond to these challenges?

Answer 1

Well, the simple answer is you need to learn to think globally. To some, this means think Internet, as the fastest communication process which is international. But you also need to learn about express shippers, and banks that can make currency conversion easy, and so forth. The specifics will depend on what you are managing. Goods or services? Products which have a general application? Products made up of materials which can be purchased more cheaply if you get closer to the source?

Take Bali hand-dyed fabrics, for example. Check out the way in which this cottage industry product has gone from a small, expensive and exotic market to being massively promoted for quilters and clothing designers all over the world.

Research your competition's response to global opportunities, and recognize that a global economy via the Internet is generally the biggest win-win situation this old world has ever seen.

Answer 2

If anyone got the answer of this question do send it to me bcuz i am also the student of VU.

Regards.

Saqib Maqsood