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Globalization: Current issues and opportunities for corporations and managers. “The biggest challenges and opportunities of the 21st century: Artificial Intelligence, Climate Change, and Genetics Engineering”
Organizations face a number of challenges and external factors that determine the strategies devised by the managers of that organization. These strategies are made keeping the long-term and short-term goals of the corporation in mind. These factors maybe political, economic, societal, technological or legal. Globalization is a worldwide known phenomenon that cannot be ignored in this present age. It is simply defined as a worldwide network of interdependence that is made possible through advances in technology and quick and easy access and transfer of information. This technological advancement has created a new world of opportunities and challenges that are inevitable. The biggest challenge of twenty first century is climate change. The advancement in technology has opened doors to new opportunities such as artificial intelligence and genetic engineering. The different insertions in prokaryotic genomes produces mutations that are used widely all of over the world considering their unlimited uses. This can be used to cure diseases as well which increases the lifespan of an individual. (Kleckner, N., Roth, J. and Botstein, D., 1977). Artificial intelligence is also called machine intelligence since machines exhibit artificial intelligence. This is also one of the important results of advancement in technology that has changed the course of how things were done previously. In this project, we will analyze how globalization is affecting the corporations in the world and what changes it is bringing with it. We will also analyze how managers are trying to adapt to the changes in this ever-changing and dynamic environment. Since the phenomenon of globalization is linked to technology that has given rise to the concept of flat world, we will analyze how technology, globalization and management in corporations are interlinked. From this analysis a conclusion will be drawn. On the basis of this conclusion, we will provide necessary recommendations that will help in management decisions in today’s world of evolving technology……