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Globalony
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Discusses the future global economy, or "globalony," in which a unified global marketplace is dominated by transnational corporations. Argues that cultural differences will fall away as businesses develop a single global business standard.... More...
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Paper Abstract:
Discusses the future global economy, or "globalony," in which a unified global marketplace is dominated by transnational corporations. Argues that cultural differences will fall away as businesses develop a single global business standard.
Paper Introduction:
In recent years there has been much discussion about the creation of a single global marketplace. This will be dominated by firms that are truly transnational. This means that the ownership and investment of such firms will not be closely tied to any single country, but many countries instead. In addition, the management cultures in a global marketplace will not have practices coming from some country of origin, but from an international standard of "best practice;" and this practice will be shaped by the competitive struggle of transnational firms.
Emmott (1992) refers to the idea of a global marketplace as a "globalony," or global economy. He concludes such a situation may be less valuable for transnational firms than it may first seem. Richard Whitley (1994) also looks very critically at the idea of the global marketplace, and comes to a similar concl
Text of the Paper:
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(1994). London: Century.Hellegren, B. This means that the ownership and investment of such firmswill not be closely tied to any single country, but many countries instead. A given firm may dominate inseveral national markets, while in some others it makes little headwayagainst local competitors. & Melin, L. For instance, Japanesemanagers of a Japanese branch could no be expected to give their wholeattention to the quarterly balance sheet, because that is not the nature ofJapanese management culture. American firms,backed by capital and technology, found it easy to make internationalinroads, whether their management systems were really more effective or not(Whitley, 1994). Even the best Japanese managers will notperform at their best if asked to work that way (Hellegren and Melin,1992). Japan's Global Reach: The Influences, Strategies, and Weaknesses of Japan's Multinational Companies. Even within EastAsia, there are significant differences among Japanese, Korean, and Chinesecultural attitudes toward subordination, and therefore in their respectivemanagement styles (Hellegren and Melin, 1992). London: Sage.Whitley, R. That, rather than broad generalizations, is the bestway for a firm to adapt to and do well patchwork environment that makes upthe global marketplace. A generation ago, in the postwar 195 s and196 s, American-style professional management seemed to have greatadvantages over older European traditions. (1992). "Japanese management" has not been very popular or effectivein the United States, because American managers and workers do not sharethe basic attitudes of Japanese managers and workers. In areas such as management and labor practices, national political,and cultural conditions may often make international standardizationimpossible. 1 1-122. This will be dominated by firms that are trulytransnational. Disney haslearned to its cost that what draws people to Paris is not the same thingthat draws people to Orlando, Florida (Whitley, 1994). He argues that the independence oftransnational firms is in fact a great deal less than is frequentlysupposed for a variety of reasons; he also argues that the degree ofindependence of firms, and of standardization of management practice,varies widely from firm to firm and from sector to sector. 1 5). Yet even such Europeancountries as France and Germany have strongly structured relationshipsbetween business and other social institutions that come from very diverseideas about business and life in general (Emmott, 1992). But in themodern world, many international competitors grow out of societies withquite different institutional patterns. He concludes such a situation may be lessvaluable for transnational firms than it may first seem. If a firm iscontemplating moving into a specific foreign market, it should not assumethat its operations in that country will operate in the same way -- or evenwith the same biases -- as the home office. This may mean that global marketplace is further from being a factthan many may believe. For instance, the World Bank and the International Monetary Fundare broadly "American," but many of the newer institutions of the EuropeanCommunity tend to have distinctly French qualities. These were rooted in atradition of large family firms and a culture (especially in Britain) thatwas very similar to an exclusive social club. Possibly, the reason for the belief that transnational firms are veryindependent is due to historical trends and American domination in manymarkets across the world. (1992). "The Internationalization of Firms and Markets: Its Significance and Institutional Structuring." SAGE Organization Articles, 1 (1994), pp. In recent years there has been much discussion about the creation of asingle global marketplace. In addition, the management cultures in a global marketplace will not havepractices coming from some country of origin, but from an internationalstandard of "best practice;" and this practice will be shaped by thecompetitive struggle of transnational firms. Emmott (1992) refers to the idea of a global marketplace as a"globalony," or global economy. ReferencesEmmott, B. It may in fact be thatAmerican industry had pioneered new and more powerful management styles,but it was perhaps more significant that the American economy, far lessdisrupted by war, was incredibly strong at that time. It seems that independence, integration, andstandardization are all taking place on an international level (and thetrends will probably continue), far more slowly and to a much more limiteddegree than is often supposed. In this way, attitudes toward firms, markets, and management have alsobeen shaped by American culture, where the role of government andinstitutions such as unions is relatively limited. "Japan, Inc." is an obvious andfamiliar example (Hellegren and Melin, 1992). International institutions, likewise, frequently reflect a country oforigin. Instead of a single global market and asingle global management culture, there is a complex patchwork of more orless national or international markets, firms, and institutions. "Business Systems, Industrial Wisdom and Corporate Strategies," European Business Systems: Firms and Markets in Their National Contexts. To some degree the samewas true of America's first postwar competitor, Great Britain. Perhaps it may be assumed that all international operations should beapproached in the way that international marketing is best approached.Most firms have learned that they must sell to the market. Richard Whitley(1994) also looks very critically at the idea of the global marketplace,and comes to a similar conclusion. Entrants to theinternational scene must look at actual or intended markets andcompetitors, and at the specific realities of the environment in which theywill be operating. It may dominate a national market in oneproduct line, and be marginal in that same market in some other productline, though it may be dominant elsewhere in that line. For instance, "in practice, most TNC's [trans-national companies] varyconsiderably in their domination of particular markets and particularproduct lines" (Whitley, 1994, p. The world is not,after all, simply an extension of America, Japan, or any other dominantbusiness culture, it is the combination of them.Conclusion: For the corporate planner contemplating international operations,international marketplaces, and international competition, a good rule ofthumb would be to avoid sweeping generalizations in favor of closerobservation of specific situations (Whitley, 1994).
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