Question
Question 1
Explain what you think is the most significant way in which globalisation has affected the worlds of work and employment over the past twenty years. To what extent will this continue to be the case in the next twenty years?
Solution
The impact of globalisation is identified in CIPD (2021) as inclusive of movement of labour, products, services and knowledge across international boundaries. The core drivers of successful globalisation include the offshoring popularity, supply chains expansion and an intense demand for low-skilled migrant workforce professionals. This definition is affirmed by Oyekola (2018) which identify globalisation as an expansion of worldwide flows of material objects and symbols and entities proliferating with institutions achieving a global presence. For instance, Almarai which is my current organisation, through globalisation, it is identified as controlling 45% of the food and dairy market in entire GCC and ranked as the largest vertically integrated farms globally (Bahlas, 2020). The vertical integration is evidenced by extension past their national borders of similar market forces which have actively operated in many centuries in various levels of human economic activity. In line with this definition, globalisation is not a static concept but going through a consistent changes in terms of their manifestation and growth. Its manifestation and the factors explaining its growth include;
International economic exchange
According to Olivié and Gracia (2020), for the success of globalisation, international economic exchange is essential. This is a practice in which organisations operating in various markets achieve a mutual understanding and consensus. In the context of labour market, CIPD (2021a) identify the relevance of the international economic exchange as influencing how the global workforce are appropriately equipped in seizing the opportunities from future waves of technological change. For instance, for Almarai, they ensure that they leverage on technology and globalisation impacting on the nature of their job function. For instance, in their latest Dubai subsidiary, Mubasher (2020) identify technology as having established new channels of communication with business models transformed, new services creates and job opportunities. This evidence that globalisation has positively grown with a significant disruption of how organisation pursue their business in international markets.
Foreign Direct Investment
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