Globalization and International Linkages:
Assessing and Analyzing the Extent and Nature of Globalization's Impacts on International Management
1) Globalization has increased the availability, quality and origin of consumer products we can purchase in Hong Kong. The number of brands, both local and global, have significantly increased over the past few years and it is much easier to purchase foreign products relative to previous years. For example, the number of "Bonjour" and "Sasa" have dramatically increased over the past few years, specializing in stocking beauty products from all over the world.
2) We think that Hong Kong is a globalized city. The locals have adapted to foreign products and culture into their lifestyle and imports/exports play a big role in employment. The significant amount of investments inflows and outflows greater emphasizes this fact.
3) Globalization has several impacts on the taste, values, economies and competitiveness of the local culture, depending on its history. For example, Hong Kong has adapted to many Japanese specialty snacks such as mochi and dried squid. Cultural trends have changed the perceptions of the locals that Japanese products are of higher quality. The popularity of the Japanese culture is threatening the prosperity of the Chinese culture as Chinese operas are on the decline, as well as other arts and traditions. All these factors play a part in increasing the competitiveness of local businesses.
4) Primary drivers of globalization are decreasing trade barriers such as government policies/tariffs and languages, and the increasing need for businesses to expand their markets by looking abroad.
(Refer to logistics in article)
5) Primary consequences of globalization for international management are changes in HRM policies to adapt to different values and cultures.
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