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Dramatic effect of Globalisation and the rise of the Multinational Corporation (MNC)

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  What is the relationship between globalisation and MNCs? A global network of communication and trade has allowed regional economies, communities, and cultures to converge over time. This trend is known as globalization. An organization that conducts business in two or more nations is known as a multinational corporation (MNC). The same applies to transnational corporations The rise of MNCs and the ever-growing importance of international trade have intensified globalisation. Businesses may strive to become an MNC for several reasons, including the following: Businesses can develop abroad and enhance their sales turnover by having a larger consumer base. To take advantage of the enormous client base, several companies, including HSBC, KFC, Starbucks, Lamborghini, and Walmart, have ventured into China. Using global marketing techniques can also improve brand recognition internationally. Many MNCs expand internationally to take advantage of lower production costs, particularly l
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Employee relations and new realism

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  Employee relations and new realism   Definition of Realism 1. According to  Butler , "Realism is the reinforcement of our common acceptance of this world as it appears to us." 2. According to  Swami Ram Tirth , "Realism means a belief or theory which looks upon the world as it seems to us to be a mere phenomenon." 3. According to  J.S. Ross , "The doctrine of realism asserts that there is a real world of things behind and corresponding to the objects of our perceptions."   A historical review of British industrial relations, with a focus on more recent legislation, reveals that, while the prospects for renewed growth in union membership are bleak, the experience of severe recession has focused the attention of union representatives and managers alike on the survival of the business unit in which they themselves are employed.   This developing "enterprise consciousness" will be reinforced by the current trend toward decentralized
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Location: Sri Lanka
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Employee Voice

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                                                        Employee voice refers to how employees communicate their opinions to their employers and influence workplace decisions. Employers benefit from effective voice because it promotes employee trust, innovation, productivity, and organizational improvement. Employees who express themselves verbally often feel more respected, have more job satisfaction, have more influence, and have more prospects for advancement. Employee input is also vital in developing inclusive workplaces. This brief investigates employee voice and its various forms in an organization. It examines the changing nature of voice and influence in the workplace, procedures for involvement, whistleblowing, and how companies may establish a safe environment in which employees feel comfortable speaking up.   What is Employee Voice? Employee voice might be defined differently in different configurations. Dromey's definition is used in our Talking about voice reports
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WHAT IS GLOBALIZATION IN BUSINESS

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Figure 1 WHAT IS GLOBALIZATION  According to the online course Global Business, globalization is the expansion of the flow of products, services, money, people, and ideas across national borders. Forest Reinhardt, a professor of global business at Harvard Business School, asserts that "we live in a globalized age." That is, there is a stronger than ever connection between the national economies. You need a solid foundation in the fundamentals of business globalization whether you're trying to understand your multinational firm better or considering extending your company into other nations. Here is a primer on what it means to be an international business, things to keep in mind when navigating the world of global commerce, and how to increase your expertise. WHAT DOES IT MEAN TO BE AN INTERNATIONAL BUSINESS? Figure 02 Any company that conducts operations manufactures goods, or sells them between two or more countries is considered an international business. Three factors
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Location: Sri Lanka
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How Does Industrialization Work

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  What Is Industrialization? Figure 1- BASF Factory (1881) Industrialization is the process by which a country or region switches its economic emphasis from agriculture to industry. The use of automated mass production techniques is a crucial part of this change. Economic expansion, a more effective division of labor, and a boost in technological innovation are some benefits of industrialisation. Understanding Industrialization Government initiatives, labor-saving technologies, entrepreneurial ambitions, and customer demand are a few of the factors that could promote industrialization. It has a big impact on the populace and causes a rush in migration from small farms to cities and towns where there are jobs. China is the most prominent example of this in recent history, as policy reforms made by the government in the second half of the 20th century assisted the nation in making the transition from an agricultural economy centered on subsistence to one based on manufacturing superp
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Location: Sri Lanka
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Industrialised Nations

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  Examples of Industrialization Growth and innovation in at least four industries are necessary for industrialization . figure 1 Manufacturing The advent of machines, which greatly increased product production, signaled the start of industrialization. One of these inventions was the cotton gin, for which Eli Whitney was granted a patent in 1794. The device considerably accelerated the process of separating cotton fluff from its seeds before being woven into cloth. It could be either hand-cranked or steam-powered. The spinning Jenny, a tool that multiplied the number of spindles one spinner could control concurrently to weave cotton or wool, was another. The steam engine, which Scottish engineer James Watt built and invented in 1763, was arguably the most significant invention of all. Steam engines that burnt coal were the driving force behind the Industrial Revolution.   Mining The mining industry served as the primary focus of many of the 19th century's greatest inventio
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Location: Sri Lanka
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The psychological contract and HR

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  Why is the psychological contract important? figure 1 In the end, a team member's daily work experience is not significantly impacted by their written employment contract with their employer. In actuality, the contract is something you sign on your first day and then most likely don't see much of for the rest of your employment with the company. That contract might simply remain in a filing cabinet in the back of the office unless the employee and employer get into a legal disagreement. The perceived fairness of the psychological contract that employee has with their company has a much greater impact on how they behave, act, and work. Consider the psychological contract as any other relationship you may have in your daily life: it is a relationship. It's simple for a friendship to deteriorate if your friend repeatedly disappoints you, asks for more from you than you ever give in return, or frequently makes you feel cheated. The other feels unfairly treated, and
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Location: Sri Lanka
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Importance of Industrial Relations

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  Importance of Industrial Relations A successful economy depends on having good labor relations, which can be described in more detail below. Figure 1 Uninterrupted production – The major benefit of industrial relations is that they guarantee that production will continue. This implies that everyone will continue to work, including supervisors. The resources are utilized to their utmost potential, resulting in maximum production. Everyone receives a steady paycheck. Many other industries gain when one is successful. If the items are intermediaries or inputs, exporters profit, consumers and workers profit, and if the products are mass-produced commodities, workers and consumers profit. Reduction in Industrial Disputes – Conflicts in the workplace are decreased through good labor relations. Conflicts are a manifestation of the inability of fundamental human drives or impulses to find enough fulfillment or expression, which are completely remedied by positive workplace relati
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Industrial Relations

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  Industrial Relations Figure 1 The delicate and complex issue of workplace relations has emerged in today's industrial society. Without the collaboration of workers and peaceful relationships, industrial progress is impossible. Therefore, building and maintaining positive relationships between workers (labor) and employers is in the best interests of everyone. Figure 1: Industrial Relations Concept of Industrial Relations: The term "industry relations" is created by fusing the words "industry" and "relations." Any productive activity that a person (or a group of people) engages in is referred to as an industry. In this sense, "relations" relate to the contractual arrangements between an employer and his employees. Interaction between management and workers that results either directly or indirectly through a union-employer relationship is referred to as "industrial relations."  Definitions: There are several definitions for
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Location: Sri Lanka
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