Globalization is more than just a buzzword: it’s a reality for business nowadays. It’s changed the way that many companies work and how they approach many aspects of their operations.
In fact, it’s almost necessary to embrace globalization and conduct business internationally if you want your company to be competitive in the global marketplace.
As a result of globalization, cross-cultural communication is more prominent than ever before, providing challenges for internal communicators who have to reach a variety of different audiences in different locations within their organization.
This means that you can have a global workforce - the type that is based in different countries, in different time zones, with different cultural sensibilities, with different legislation and regulatory impositions all striving towards a common goal for your business despite these obstacles.
And while globalization isn’t a new phenomenon, its impact has been more pronounced in recent years. It is disrupting the way that industries all over the world operate, coupled with rapid advances in technology, putting the modern workplace into a constant state of flux, rapidly changing and developing and becoming increasingly difficult to define. More and more companies are finding themselves managing a global workforce as a result.
The advantages of globalization for business
1. Ability to tap into a wider talent pool
When fully taking advantage of globalization, you are no longer restrained by talent that is available in your city. Today your global workforce could work from anywhere in the world with an internet connection opening you up to the brightest and best candidates the entire world has to offer.
2. New ideas due to cultural diversity
Managing an international workforce includes teams working across different locations, people traveling and moving countries for work, having a range of different work ethics and practices and even religious differences. All of these can be challenges, but overwhelmingly are a positive thing in the workplace as it brings together different ideas and insights and perspectives.
3. Larger markets
Globalization opens up new opportunities for businesses to sell their goods and services to a much larger markets, which means more potential sales and greater profits. Depending on the organization it can open up other opportunities in terms of distribution, logistics, marketing and management of these goods and services.
4. Earnings changes
With more and more companies accessing overseas outsourcing opportunities, wages have decreased for many workers in the original countries. Companies in the developing world are able to offer their services at a much reduced rate from those who live in countries with greater living standards. This means that workers in larger countries are affected.
For businesses looking to take advantage of the opportunities offered by globalization, this can include paying lower salaries and having lower overheads when they operate in less developed nations. Other savings can be made in countries that have more favorable taxation and reduced red tape and business costs.
The disadvantages of globalization for business
1. Potential for IP theft
When products are built overseas in factories on behalf of a company based in another country, there is potential that intellectual property and designs could be copied and stolen and replicated and sold for cheaper elsewhere.
2. Issues with supply chain
Businesses committed to ethical work practices may find that they cannot always account for these standards being met at every point in their supply chain and operations. For example there may be suppliers, farmers, factory workers, logistics operators who are exploited or work in unsafe conditions.
Different standards apply in different countries, and many nations in the developing world are rife with corruption.
Researchers at the Henley Business School found 85% of managers surveyed admitted they had to resort to bribery when trading with developing countries where it is considered a usual cost of doing business.
Impact of globalization on business communication
When you work across time zones, cultures and countries and have a workforce that is not always even online at the same time, let alone in the same room at the same time, reaching everyone and communicating effectively can be a challenge. You need to figure out some new global workforce solutions for communicating.
Employees and management alike need to get used to the dynamics involved in cross-cultural communication. The impact of globalization on communication includes aspects such as manners, body language and non-verbal gestures that could be construed differently in different cultures.
There’s also etiquette to establish around the proper use of technology and remembering time zones when managing a global workforce: when its 3am in another country, your colleague won’t want to be bothered with a Skype call!
Global workforce communication solutions
Technology has made it much easier than ever before for people in the same organization in different parts of the world to stay connected. In the past they would rely on expensive international phone calls, faxes, letters and even long journeys for face-to-face meetings.
Virtual communication and collaboration are now one of the major tenets of business communication for the global workforce. Videoconferencing, instant messenger and project sharing platforms like Slack make it much easier for colleagues to work together whether they’re located in the same building, or on opposite ends of the earth.
DeskAlerts is a solution that many multinational corporations have deployed to bridge the impact of globalization on business communication. DeskAlerts is an internal communications software system with multiple tools and multiple channels to solve a range of internal communications issues.
With DeskAlerts you can:
- Deploy the common corporate screensaver or wallpaper for the entire workforce or customize it based on regional or department objectives
- Send urgent pop-up alerts or news tickers to workstations of employees from different parts on the world, using their local language
- Run your internal communication campaigns using different channels (PC, mobile, Digital Signage) and collect statistics on which employees have received and read the message.
The system can be customized to fit your specific needs… talk to our team of experts today to find out how it can work for you.