Explain the challenges and opportunities of Globalization.
There are many challenges and opportunities that come with globalization of the world. Some of the challenges of globalization are:
- Globalization has contributed to working environments where people from different religious and ethnic backgrounds work. The challenge arises when there is a need to affectively mange the multinational teams of people. It requires specialized skills to manage people from different religious and national backgrounds (“The Challenge of Globalization”, 2015).
- The competition produced by globalization is contributing to environmental destruction in the form of forests being cut and eco systems destroyed around the world by multinational companies to find resources for their production demands.
Some of the opportunities that are provided by globalization are:
- Globalization has helped humans produce ways of communication and transportation that has brought different countries and nations closer.
- Globalization has contributed to increased job opportunities for people from around the world.
- Globalization can be viewed as a source of innovation and technological advancement around the world.