Indian Globalization Essay Sample
- Word count: 670
- Category: india
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Indian Globalization Essay Sample
Question 1: «The reason behind the global economic downturn is the financial crisis which is hitting the world of work» was discussed by The International Institute for labor in the opening profile. The collapse of stock markets, credit crunch and subprime mortgage mess in US eroded the global economy and affected companies investment decision for global market as well as employees incomes. Reduced costs met the requirement in new hiring decisions. As the market recovers, hiring rates for the larger companies are increasing – companies have capacity to hire more employees to help economy to grow. It is clearly shown in the case study by India’s example. Based on it’s size and mature economy, India is fairly high on the list attractive markets. In approximately fifteen years the BPO industry had shown tremendous growth and high numbers within the sector signified maturity and consolidation for the industry due to high level of employment for young educated English speaking labors.
Since the BPO industry requires low-cost employees, what is not possible in highly developed countries (USA, Australia, Europe), the only solution that provides a boost for outsourcing demand is an outsourcing in countries with a possibility for reducing costs and hirind more skilled labors within a budget. Question 2: In times of globalization are faced with a hugh amount of necessery costs e.g. they had to invest in trainee programms and infrastructure to sent their employees to a foreign country. Cause of this in the last years the reducing of costs became one of the major tasks of any company to establish their market position. Todays markets are very tough and you have to react immediately to be successful in the future. The companies are moving to new global operating models, driven by the rapid rise of ermerging and developing economies. The reasons for the globalization of human capital are different: an abundant, skilled man power well educated workforce low wage structure in general good language skills especially English speaking man power
These key facts could offer significant improvements in quality and productivity of the company. In addition to this it could be way to support the employers to identify themselves with those impressive worldwide acting companies. Question 3: Indian companies offer outsourced services like customer care, medical transcription, medical billing, payroll management, and tax processing. Also the indian government offers an english speaking manpower, high-end telecom and infrastructure, strong quality orientation within the industry. Indias location on the map which allowed it to leverage on time zone differences, a positive policy environment that encouraged investment in the industry and an attractive and friendly text structure. As a result of these activities of the government shows that Indian companies are more focused on maintaining quality and performence standards than other countries
Question 4: If a company makes a decision to take action in an foreign country their could be no guarentee for the success of this strategy. A reason could be that the employees doesn‘t identify themselves with the culture, values and goals of the company. So this reduces automatically the results and quality of total performance. A problem as well could the foreign employees not have the necessary skills and knowledge to work as the job requires. The planning and implementing of the strategy in case of global acting must be accurate and most precise as possible to avoid missunderstandings by the implementing of the strategy. To move jobs in a foreign country could also damage the image of the company in the home country. Although these threats there are also some opportunities why companies should act global. The major reason is the reduces of costs of the company e.g. lower wage structure. To give a special task or an amount of tasks to a foreign devision the company makes sure that the selected stuff has the required skills to fulfill the assignement. A big advantage could also be that the chosen country offers an ideal infrastructure as well as logistic solutions for the business.