【Column】"The concept of globalization"
Internet expansion, growth of emerging countries like BRICS, outsourcing and offshoring business processes, impact of material and oil price hike all over the world, these distinctive factors represent shift from a few dominant developed countries to many emerging countries, which might be potentially called as developing countries in the future instead.Photo
The original concept of Globalization have a root from the term of internationalization in 1980's when GATT( General Agreement on Tariffs and Trade) framework of free trade creates subsequently WTO for internationalization. Then multi national corporation (MNC) as a derivative concept of internationazation appear in order to capture opportunity of internationalized free trade. Then globalization seeing broadly global market as one comes out differently from concept of internationalization and multinational corporation which is limited to transaction between or among nations. The globalization expanded as part of Americanization or Westernization in alignment with growth of global American corporation.
In the beginning of 21th century, potential dominant countries as BRICs and Next 11 coined by Goldman Sachs, showed sign of changes in the future as opposed to current dominant nations like America. The concept of "world is flat" takes shape of becoming small gap between advanced and developing countries. Then recently "globality" as advanced concept of globalization comes out for explaining global competition with everybody from everywhere for everything.
Then what does this globalization imply to global corporation?
I conclude, from global corporation's perspective, that it strongly implies what global market will be and what we will do to capture global market. In a nutshell, global corporation can not help but make continues strategic decision about strategy and people; where to design, manufacture, sell its own product and service in a global scope, and how to gather, manage, train potential talent in a global scope. This must enhance more complexity on global management.