Globalization and Challenging Business Environment

In today’s world, globalization has given a new form to social, cultural and economic relations. Organizations, therefore, are undergoing intensive changes. In the globalization era, management should handle challenges and questions which did not exist before. Organizations’ managers should make opportunities out of the phenomenon. Managers, thus to say, instead of viewing the whole phenomenon as a threat, must provide grounds for making the best out of the consequent opportunities. To this end, the present study aims at identifying the many changes that are resulted from globalization in organizational environments. For instance, economic and political factors, competition, customers, pressure groups, etc., are important instances that are considered throughout the study. By and large, however, by identifying the effective factors, it is better possible to understand the challenges brought about by globalization for organizations. Therefore, appropriate solutions can be presented for handling these challenges.

Keywords:

Globalization , Business environment , Organizational change (Transition) , Managerial solutions