Employee Relations And Global Context for Human Resource Management

  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, particular...

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...

  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 su...

  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 inv...