Management in Context Essay Example | Topics and Well Written Essays - 4250 words

Management in Context - Essay ExampleMFPs typically interest to low rates of inflation ,prudent government spending, high rates of investment and a healthy trend of market liberalisation. The Post World War II approach of the BWIs was based upon a much smaller role for the state following the era of the large-scale globalisation (so characteristic of the post cold contend years) This was largely a response to the state controlled economy of the USSR which turned out to be an economic and political disaster.Globalization is a term which has been used to describe and rationalise many different phenomena like greater economic integration across national borders.The concept is supported by those who agree with its trade and economic benefits except those who criticise it believe that those who perceive it as a threat to social cohesion and an invasion of the capitalist evils of the west thus undermining state welfare.As at straight off the term denotes a kaleidoscopic image, a great variety of tendencies and trends in the economic, social and ethnical spheres. In brief it can be used to set forth from an economic and developmental point of view as ,increasing and intensified flows between countries of goods, services, capital, ideas, information and people, which produce cross-border integration of a number of economic, social and cultural activities. It creates both opportunities and costs and for this reason it should not be demonized nor sanctified, nor should it be used as a scapegoat for the major problems that are affecting the world today. (Williamson, 2002 cited in Cooper 2005 pg 15) In the light of the above there has been a rapid growth in the Multinational Corporations trying to reap the benefits of Foreign Direct enthronization with in foreign legions where the costs of labour etc are far less.This has also been enhanced by the role of the modern state in economic intergration and the involvement and adoption of market-oriented policies and regu lations,internationally and locally.During the 1980s this integration intensified and there was an increase infinancial sector deregulation, the removal of controls over foreign exchange and enhanced license of trade. Financial deregulation has resulted in the progressive elimination of capital controls, the removal of controls over interest rates, and the lifting of traditional barriers to entry into banking and other financial services( Vincent, 1995)Academics corroborate expressed a lot of scepticism over the fact whether Globalisation of Investments and the growth of MNCs (Multinational Corporations) has been meaningful to the contribution to domestic growth .According to Froot (1993) Globalisation does not real require neither capital flows nor investment in capacity but is a mere extension of corporate control over international boundaries and then the recent ability of Globalisation to