Choose the topics relevant to second term lecture material and Essay

Choose the topics relevant to second term lecture tangible and research the topic in more depth - Essay Example(Steger, 2003 p. 37) With regards to the large supply of ready(prenominal) buy the farm force in the labor market, medium- and large-scale businesses atomic number 18 taking advantage of hiring competitive employees. Likewise, it is besides crucial for businesses today to actively participate in the trading of goods and function in the world market.As part of discussing the valid reasons that makes it important for modern managers today to have a good thought of the member of globalization, a literature review will be conducted in the study. To give the readers a better taste of the subject matter, the first part of the literature review will discuss about the general education and the main purpose of globalization followed by analyzing the factors that makes it important for modern managers to have a good understanding of the globalization process. Prior to conclu sion, reasons behind the need to implement and promote cultural diversity within the work environment will be tackled in details.Globalization is a process of interaction and integration among people, companies, and governments of polar countries which is driven by international trade and investment through the use of information technology. (The Levin Institute, 2008) Basically, the concept of globalization allows business people to maximize their avail equal financial resources by taking advantage of the low-cost products and services that are readily available from developing countries. Because of the differences in monetary exchange rate, large-scale businesses from developed countries are able to purchase more homogenous products and highly competitive human resources at a oftentimes lesser price. Therefore, large multinational companies could easily compete with small-scale local businesses by being able to offer homogenous products to its target consumers