Exercise One: Forces Behind the Globalization
Use this worksheet to capture your personal observations, ideas and thoughts on the forces that are
impacting globalization. Write your ideas in the sections of the circle below.
Exchange with your learning partner and then be ready to share key insights in the class group
discussion.
Forces
What are the implications for a Strategic HRM?
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Name of the student:
COURSE: sPROFESSOR: sSCHOOL: sDATE:
Factors that have an impact on globalization.
Introduction.
Globalization is defined as the process by which corporations, organizations, and economies gain international influence and begin to operate on a global level. Globalization causes economies, populations, and cultures to become increasingly interdependent as a result of cross-border commerce in technology, goods, and services, as well as the movement of capital and information. (Desjardins et al., 2018) In addition to the elements shown in the figure below, globalization is influenced by a number of other factors as well.
The Implications for a Strategic Human Resource Management
Essentially, an organization’s procedures require a variety of resources in order to be successfully carried out. Personnel resources are included in this category since they are one of the most radical units of an organization that can generate competitive advantage. Ali (2016) defines formalized formalized formalized (Ali, 2016). The following three views must be taken into consideration by the business in order to implement the most effective human resource management methods.
The first implication is universalistic; human resource practices differ from one another, and all businesses should adopt their own best practices that are distinct from those of their competitors in order to achieve a competitive advantage over their competitors. Secondly, contingency must be considered; in order for a Human resource management plan to be effective, an organization’s Human resource regulations must be consistent with the organization’s other features. Policies that govern strategic human resource management must be consistent in all elements of the process, including recruitment, budgeting, and planning, among other critical considerations. The third point is about configuration; human resource management practices should be consistent with other organizational settings such as culture, leadership, and policies. Ali (2016) defines formalized formalized formalized (Ali, 2016).
Conclusion.
Human resource management offers value to an organization and aids in the achievement of a durable and constant competitive advantage on the basis of strategic improvement of the organization, which is rare in the business world. In order to reap the greatest possible benefits from human resource management strategies, they must be distinct, useful, and difficult to duplicate by other businesses or competitors. It is expected that human resource management will provide numerous benefits to the firm. In particular, it should provide realistic guidelines for radical and critical parts of the organization, such as employee learning and development as well as capital management, talent management, knowledge management, human resource management, and planning and scheduling.
References.
S. O. Ali, S. O. Ali et al (2016, April 25). What are the most significant practical ramifications of strategic human resource management theory? Retrieved from Bayt: https://specialties.bayt.com/en/specialties/q/285375/what-are-the-main-practical-implications-of-strategic-hrm-theory/ Desjardins, J. What are the main practical implications of strategic human resource management theory? (2018, October 4). The Global Economy is being shaped by a number of major forces. According to Visual Capitalist, there are eight key factors shaping the future of the global economy, which can be found at: https://www.visualcapitalist.com/the-8 major forces shaping the future of the global economy.
