THIS IS ONLY AN INTERPRETATION, FIVE SENTENCES AND A QUESTION IS ALL I NEED. TELL ME YOUR THOUGHTS, HAVE REFERENCES
Globalization can benefit organizations with increased economic efficiency. But it can also increase competition, the need for adaptation, and greater expectations (Szintay, 2000). Globalization has improved the educational opportunities for many different nations. Shortly after World War II, many nations increased opportunities for more people to have access to higher education as a way to develop and improve national economies (St. John, 2013). The GI Bill allowed many soldiers the opportunity to attend higher education after World War II. Prior to this, higher education within the United States was difficult to obtain for the majority of the population because of the cost. The GI Bill made education available to more than just the elite (St. John, 2013). Several countries developed programs such as the Marshal and Columbo plans which also provided opportunities for higher education for their respective residents (St. John, 2013). In this way, education has become much more available to people throughout the world. This is a positive impact of the GI Bill and its influence on globalization. It has made higher education much more obtainable than it was prior to World War II.
Strategic plans must include global considerations while remaining focused on the competitive climate of the local economy. For example, long-term financial plans must take the economic conditions of foreign nations into account, since economic troubles on one side of the world can affect a company’s local economy (Ingram, 2017). As mentioned earlier, globalization also increases competition for local organizations. One advantage of that is that organizations will often try to give similar benefits as other organizations in order to stay competitive.
Ingram, D. (2017). Strategic management concepts, competitiveness, and globalization. Retrieved from http://smallbusiness.chron.com/strategic-management-concepts-competitiveness-globalization-65146.html
St. John, E. P. (2013). Social justice & globalization. Harvard International Review, 35(1), 45–49.
Szintay, I. (2000). Globalization and strategic management (paradigm shift- new strategic theories). Business Studies, 1, 201-222. Retrieved from http://www.matarka.hu/koz/ISSN_1586-0655/BS_vol_1_no_1_2001_eng/ISSN_1586-0655_vol_1_no_1_2001_eng_201-222.pdf