The overarching objective is to provide predominately undergraduate and graduate business students a more profound discussion of globalization – a term rarely if ever packaged in the tripartite approach presented in this study. The paper aims to serve as a pedagogical model to contain the many elements of globalization into a single, comprehensive template.
The paper is segmented in three parts each targeting a specific question. Part one sets the foundation for explaining what globalization is by way of theory. Building upon the theory of globalization, part two examines the wisdom behind the phenomenon of globalization by way of philosophy. Part three bridges the intellectual understanding of globalization to its application by way of strategy – more specifically, strategic management. Globalization as strategy, though not new, is paramount for the firm to maximize the return on risk – the key objective to create value for long-term competitive growth. In addition to the paradigms that support the analytical frameworks of strategic analysis and design, we explore the field of political risk – among the more rigorous disciplines that facilitate a more comprehensive evaluation to substantiate global management decisions.
In a complementary essay entitled Demystifying the Pedagogy of Globalization: A Historical and Theoretical Approach to Effective Learning[i] (Jasso, 2010), data from a field survey indicate that a predominance of upper-division undergraduate and graduating MBA students remain challenged to support a strong understanding of global dynamics. It is undecided if this deficit in knowledge is rooted in outdated curricula; however, what is certain and undisputed is that the effective manager of the next fifty years must embrace the truth about globalization – that is, the global reach and consequences of worldwide commerce. The ultimate aim presented here is that the future manager – charged with the responsibility for managing risk – can make strategic decisions better, faster and more efficiently for all whom depend on the success of the enterprise. To achieve these results, globalization must be an ethic – a habit, a natural instinct, and a frame of mind. Hence, through a deep understanding of theory – the explanation, philosophy – the wisdom, and strategy – the implementation, tomorrow’s firms will have a higher probability of realizing the definitive nature of the enterprise – growth, prosperity, and permanence.
[i]International Journal of Business Research, Volume 10, Number 4, 2010, pp. 126-135 (ISSN: 1555-1296)