Book review : All you need to know about globalization

Introduction to Globalization and Business


by Barbara Parker

Published by Response Books, New Delhi
Reviewed by Chandani Jayatilleke

The word globalization is in daily use throughout the world. Teachers and scholars in disciplines such as Management, Marketing, Finance, Accounting and Economics also use the word globalization to mean different things.

In this book, author Barbara Parker goes to the extent of not only defining the word 'globalization' but to also explain many aspects and challenges of globalization in disciplines such as marketing, trade, investment and finance.

The book introduces timely topics to do with the global environment - such as leadership, human resource systems management, career development, corporate social responsibility, business ethics and diversity management.

Each chapter includes a case study to introduce chapter topics, an overview of chapter objectives, examples from both small and large firms to illustrate chapter concepts, a chapter summary and review and discussion questions.

The author targets several segments as her audiences/readers. First, it is a resourceful publication for university students who wish to learn more about the globalization process and its effects on organisations.

The multidisciplinary nature of globalization requires that the topic be examined through many lenses, resulting in a book that incorporates theories from many disciplines.

Principles introduced are applicable to any organisation, but the main focus is on Business Management. The book provides many organisational examples drawn from organisations of every size, found in every country and guided by managerial motivations and practices that emerge from different cultural roots.

The book's emphasis on global relationships and responsibilities also makes it useful to those interested in business/government/society interfaces. Finally, timely and thorough coverage of global shifts in culture, politics, economics, technology, industries and the natural environment makes the book an excellent resource for libraries and researchers.

Chapter one defines globalization, distinguishes it from international activities and presents competing worldwide perspectives on both causes and consequences of globalization. Chapter two outlines a system based model to analyze global shifts and organisational activities.

The model shows that mediating organisations such as other businesses, suppliers, buyers, governmental and non-governmental organisations also shape an organisation's responses to global shifts. Relationships with these mediating organisations further interconnect global organisations to their world.

Chapter three outlines characteristics of the global enterprise applicable to organisations in any sector. This chapter argues that global organisations of every type face the same general challenges as do businesses.

Chapter four outlines the global landscape of business, demonstrating that small to medium-sized organisations as well as global giants participate in this world.

From Chapter five to 11, the focus is on each of the six global environments that create the context for global management. These are global industries and business, globalization of the natural environment, global culture, global economies, capital and financial institutions, global labour, progress and concerns of global politics and the impact of global technologies with special emphasis on IT.

Overall each chapter turns out to be a provider of vast areas of information for anyone looking at study materials in this scenario. Author Barbara Parkar is Professor of Management at Albers School of Business and Economics, Seattle University.