Globalization – Its Impact on Management in Nigeria
Globalization – This chapter will have to examine the relevant material, journal that are related to the subject matter, and these literature will have to be discussed on the following topic elucidated:- To order the Complete Project Material, Pay thr Sum of N3,000 to: BANK NAME: FIRST BANK PLC ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM ACCOUNT NUMBER: 3066880122 Then send the Project Topic, Your Email Address and Full Name to 07033378184.
To order the Complete Project Material, Pay thr Sum of N3,000 to:
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
Then send the Project Topic, Your Email Address and Full Name to 07033378184.
– Globalization Overview
– Factors shaping globalization
– Opportunities and Risk of globalization
– Globalization and Transformation in Management.
– The decisive role of technology and nature of management.
– Globalization and Business Leadership.
– Nigerian Managers response to globalization.
In 1876, a break through was made in the world of communication system by the invention of Mr. Alexander Graham Bell (Telephone). Although the telephone like the electric telegraph was invented in Europe. It was in America that it was developed into an instrument of daily use.
There are ample definitions of globalization and we do not intend to dwell excessively on them. The Economist, may want to see the phenomenon as a “process of increasing intersectional division of labour and the accompanying integration of national economies through trade, goods and services, cross border corporate investments and financial flows” (Horst Kohler May 15 2003) in that sense, globalization represents a phenomenon whereby historically distinct and separate national market are becoming one huge global market place, with resulting internationalization of product (from serving goods, labour and services tron different location around the globe to take advantage of national differences in cost and quality of factors of production such as labour, land, capital, energy and technology) and selling to the world as one market. Others have viewed globalization as an increase in global interconnectedness of contemporary colonization, which includes political, social and cultural system (Tandon 1984). The treaty of Westphalia in 1948 made nations or status the foundation of states at the centre of international relations. With globalization, the trend is towards more and more transnational linkages with economic financial, cultural and labour forces which are becoming less and less under the council of a single government. That does not however, mean the demise of the nation state as some have predicted. On the contrary, globalization has given rise to smaller groups asserting their national identities and the formation of alliances of hitherto marginal groups across continents from gender advocates to gay rights movement. From whichever angle one looks at globalization, it entails, the bridging of distances, cultural political economic and geographical.
According to Lubbere (1998), globalization is a process in which geographic distance becomes less a factor in the establishment and sustenance of border-crossings, long distance economic, political and socio-culturals. Whether seen in terms of internationalization, liberalization, universalisation, westernization or determination Schocte’ (2000) view of globalization as “the rise of supratenitoriality”. It is a major reconfiguration of social geography that is termed globalization, with implication for economic advancement or marginalization;
SOME MAJOR INVENTION UNDERLYING GLOBALIZATION SINCE 1400
|Printing Press||1438||Jahannes Gutenberg|
|Steam Engine||1712||New Comen Thomas|
|Internal Combustion||1858||Jean Lenoir|
|Wireless Telegraph||1895||Gughelmo Marconi|
|Electronic Dital Computer||1936||John Atanasolt and Clifford Bery.|
FACTORS SHAPING GLOBALIZATION
With the foregoing, it remains to critically examine the factors shaping globalization, we will follow Sechocte (2000) and present four major causes of rise of what she calls “Supraterritoriality” namely;
The emergent of global consciousness as production of rationalist knowledge. Defining rationalist knowledge in terms of the secular (as opposed to religious or mystical) an thropocautric and scientific is instrumental in the sense that it assignee to knowledge that grated value of insight that it enable to solve problem. Globalization in its economic dimensions seen to confirm the word of Karl Marx that “capital vyits very nature drives beyond every spatial barrier to conquer the whole earth for its market (K. Marx 1957/8).
Grundrisse.529, 539 as recorded in Scholte, 2000:97). Transnational production, large movement of financial assets across borders, concentration of capital in few countries and internalization of production by compus. Marketing and consumption have been a major characteristic and driving force of globalization capital has been a major charge agent in globalization with direct foreign investment and portfolio capital playing leading roles Technology Innovation: it education especially rationalist knowledge and global capital have been two major features and driving forces of globalization. They have ridden on the back of unprecedented developments in technological innovations which have impacted on transportation communication and data processing in particular. Technology has clearly played a crucial role in creating trans world social spades. The introduction of the telegraph in 1837 and all other inventions.
However, it is development in compilers related technologies facilitated by advances in telegram communication, such as the power of fibre optics to carry thousands of simultaneous voice communication (1980). Technological innovations have provided the infrastructure for globalization.
Globalization would have been impossible without supportive global regulating frame works that have facilitated supraterritorial political, economic, financial and cultural activities:
– Supranational organization in telecommunication, animation, trade (WEO) and finance (IMF world bounce and bourse) are at the for front of globalization .
– Unprecedented liberation of trade under the GATT system and noir, under world Trade organization rules have guaranteed crosses Border movement of money, investigated and trade .
– Guarantee of property rights for international capital
– Legalization of global organization and activities (Sectolte 2000).
OPPORTUNITY AND RISK OF GLOBALIZATION.
An objectives look at the last 50 years confirms that globalization has brought advantages to the world. In the industrialized countries, real per capital income more than tripled in the second half of the 20th century. Even in some developing country like Nigeria, the increase was even more dramatic. In Nigeria, for example in Nigeria per capita income increase more than tenfold, measured in today’s prices. There have been positive gains with medical advances too life expectancy rose by over a decade in industrialization countries and by over 20 years on average in developing countries. Some developing countries that have embarrassed on the road towards global integration,. Such as China, India, Malaysia, Brazil, Mexico, South Korea, and Thailand, now no longer export only raw material, but also finished goods.
Nevertheless, globalization and its benefits have uneven and not without some risk:
– First, the benefit of economic integration have primarily extended to the industrialized countries, encompassing about half (over 3 billion) of the world inhabitants. At the same time, however, according to a World Bank classification a similar number 0of people line on less than & 2 a day. Between 1960 and 2000 the gap between Nigeria per head and those of the less developed areas increase from 6 to 8 times.
– Second, the globalization of financial market has been accompanied by devastating financial crises of these crises are complex. However, a common feature has often been over-indebtedness and massive reversal in capital flows at short notice leading to serve recession accompanied by a sharp rise in unemployment in the lesser-developed economics.
– Third, globalization exert pressure on the environment. In the light of the foregoing it is understandable why discussion on globalization often leads to so much heat and polarization of viewpoints. The school of thought responses to globalization (Scholte 2000). The first of neo-liberals from the tradition of John Locke and Adam Smith who believe in market forces, competition & removal of all barriers. The Economist and Wall Street journals. These otherwise known as the “Washington Consensus”. To them amore globalize economy is more efficient because of the removal of market. The view of globalization is irreversible. However, it has adverse consequences for a significant proportion of the need for the right policy response to ensure that globalization benefits the whole “globe” and not a section of it so far, Africa in particular, seems to face major challenges as the world become more and more integrated.
GLOBALIZATION AND TRANSFORMATION IN MANAGEMENT
There are several schools and approaches to management. These include the classical approach of viewing management in terms of planning, organizing, controlling etc. this is captured scantily in the words of J.P Kotter (1999) that management involves keeping the current system operating through planning, budgeting organizing staffing controlling and problem solving. Other approaches include the behavioural approach, which emphasizes human resources management; the scientific approach with its focus on managing production and operations; and the systems or integrated approach (Donnelly, 1999, Hersey and Blanchard 1998).
The fact remains that 6raditionally managers work within a given or current system, and at best plan for incremental change and accept the status quo. The issue with 5that kind of traditional management is that globalization has changed the very managers, hitherto, could take for granted as given. The areas that globalization has fundamentally affected include:
– The relative importance and character of traditional factors of production; land (and primary inputs), Labour and Capital and their mobility.
– The decisive role of technology and innovation
– The nature of the management function it planning, staffing, organizing, decision making.
– There has been a decisive shift in the characteristic of the person that makes it at the top from the classical manger to the leader.
– The nature of competition has shifted from loan comparative advantage to comparative advantage.
-Many African mangers, (Nigerian) even through operating in a globalizes 21 century world, still are forced to operate in a largely 19th century socio-economic million. Bridging the gap will be a mammoth or Herculean task, but we owe our generation and posterity the benefit of moving Africa from what it today, a fourth world, to the first world in one generation.
THE DECISIVE ROLE OF TECHNOLOGY AND NATURE OF MANAGEMENT
Equally important, it not more important, is the application of Information and Communication Technologies (I.C.T.), from the use of computers, generally, to the Internet, specifically, in accessing knowledge, organizing finance. It will be hard for a company and for that matter, economy become a significant player in the global market place without extensive use of ICT. The power of ICT in facilitating both synchronous and asynchronous, learning, production and marketing is enormous, and that is why it has became an indispensable total in the global economy.
The nature of management functions Believe it or not, in our Executive we do not teach “Management” as a subject. We devote a mere 20 hours to traditional management with the charge and strategic management programme. This is because the challenges if globalization cannot be met by short term planning, traditionally rogue organizational structures with hierachetical framework, and staffing which is accreting to academic qualification. Today successfully managers manage continuous change. They think strategically or do system thinking, which requires the ability to think synergically, interestedly and in whole (Senge 1994) and do long term strategic planning and management.
The job of the Manager today is that of a leader and not a manager in traditional sense. Failure to appropriate this means that the manager will become obsolete in the way he operates.
GLOBALIZATION AND BUSINESS LEADERSHIP
While some still has to do the accounts of the company, prepare annual budgets, recruit staff etc the mode of doing these things has been altered fundamentally by technology, however, globalization requires leadership, men and women of vision, who are able to set long-term goals develop strategies to bring about fundamental and adaptive changes and above all, motivate increased independent, highly- Knowledgeable and geographically despaired people to achieve corporate mission, vision and goals. Management in a globalizes world is silver, leadership is golden. The difference between leadership and management was captured several years ago according to Wairen Bennis (1999). The good news is that leadership is an art to be learned through mentioning, reading the requisite leadership literate and through formal training
LEADERSHIP VERSUS MANAGEMENT
|– Agenda Creture||Establishing direction:Developing future vision.Articulating the vision in away to inspire others||Planning-budgetingDeveloping detailed strategic plans allocating resources.|
|– H.R. development for achievement||Aligning people: enthusing others to join in achieving the vision. Creating teams that understand and are engaged in developing the vision and the means to achieve it.||Organising/Staffing: Developing planning &staffing structures aims & objectives. Providing polices and procedure for guidence and monitoring systems.|
|Execution||Motivation/inspiring:Engineering staff to cover-come barrier to change by inspiring and maintaining positive expectation||Controlling/problem solvings: Detailed monitoring of research indutifying deviations organising corrections.|
|Outcomes||Fends to produce:Change often dramatic potential for effective change||Tends to produce:Order /PredictabiltyEfficiency. Result expected by stakeholders.|
NIGERIAN MANAGERS RESPONSES TO GLOBALIZATION
It would be native to think that the Nigerian manager is so unique from his counterpart in other parts of the world. Far from that, The Nigeria Manager needs to operate with the same variable as his colleagues elsewhere, According Gary Desler (2000) “Management” Desler says is equally applicable to him or her. (Manager).
- Human capital has become so important in managing change to day.
- The internet is facilitating people management
- Manager must manage change.
- Manager must change organizational culture and acquire techniques to manager diversity.
- Management now dovetails into leadership and manager must step out of their centre zone of structure fixed system and the status the quo.
- Today’s managers need to see all aspects of business and manager from a global perspective.
We are in the era of internationalization and globalization of management. Globalization as noted earlier intensified Competition, put a premium on strategic thinking and changed the nature of marketing and customer service………………………………
—————- project not complete———–project not complete————–—-
This article was extracted from a Project Research Work Topic “THE IMPACT OF GLOBALIZATION ON MANAGEMENT IN NIGERIA (A CASE STUDY OF NITEL ENUGU)”
To purchase complete Project Material, Pay the sum of N3, 000 to our bank accounts below:
BANK NAME: GUARANTY TRUST BANK (GTB)
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 0044056891
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After paying the sum of N3, 000 into any of our bank accounts, send the below details to our Phone: 07033378184
- Your Depositors Name
- Teller Number
- Amount Paid
- Project Topic
- Your Email Address
Send the above details to: 07033378184 or on/before 24hours of payment. We will send your complete project materials to your email 30 Mins after payment.
Articlesng.com will only provide papers as a reference for your research. The papers ordered and produced should be used as a guide or framework for your own paper. It is the aim of Articlesng.com to only provide guidance by which the paper should be pursued. We are neither encouraging any form of plagiarism nor are we advocating the use of the papers produced herein for cheating.