Globalisation and Managerial Challenges

Globalisation has resulted in gains in the world of trade; however, distributive justice has always been at stake in any type of political and economic system. Outsourcing, tele-communication, software and technological innovations have made it possible to shift the production activity anywhere on the globe. Call centers and medical transcription are some of the examples of this nature. The present era of globalisation of financial markets, the economics of developing countries like India have became highly vulnerable to speculative capital movements within and outside the country. Vertical and horizontal mergers and acquisitions have became the order of the day. MNC’s are wealthier than the countries in which they invest. They have enormous bargaining power in corrupting the political system of developing countries to extract the maximum benefits for their organizations. Developed nations like the USA and many other European countries have not only tried to impose the globalisation agenda on developing countries through WTO but they have also protected their interests. The kind of developments taking place at the international level show that the international economic order is moving towards unipolarisation. There is an urgent need to strengthen the democratic process at the international level. Indian industry is undergoing massive re-structuring and striving hard to induct new technology and to produce quality, cost, energy efficient and environment friendly products to become globally competitive. In this situation, the role of managers has assumed greater significance because they can strike at the root cause of the disease affecting efficiency, productivity and profitability of the business entities. This book is an attempt to focus the important issues to face the challenges posed by globalisation and liberalization.