Drivers of Globalization & Changing Nature of the Global Economy
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Provide a descriptive title or heading for your paper by focusing on topics or countries that interest you, and then discuss the following concepts: 1) globalization and the drivers of globalization; 2) the changing nature of the global economy; 3) compare and contrast the political and economic differences of at least two countries (for example India and the United States); and 4) discuss what managers can do to successful work with the opportunities and challenges present in this global economy.
For this assignment, thoroughly discuss the topics mentioned and, when possible, provide specific examples or recommendations, and cite all of your sources. As a result of reading these concepts in the chapter, mention your recommendations for employees who want to be effective expatriate managers or professional in the twenty-first century workplace. You can paraphrase and quote relevant material from the chapter and cite the book's authors and page numbers as you see appropriate. Make sure to use the textbook as a reference (along with any other articles/sources, if used).
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Solution Summary
Drivers of globalization and changing nature of the global economy are examined.
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Global Management in Action at Exxon Mobil:
The oil industry has over the past decades faced globalization of its business in a unique yet controversial manner that has elicited wide public debates and has resulted to various political actions between nations to ensure effective and efficient flow of the precious commodity (Bina, 2006, pp. 5). This paper analyses the global management environment at Exxon Mobil, a leader in oil and gas industry.
Exxon Mobile Company Overview:
Exxon Mobil Corporation (Exxon Mobil) is the world largest company in the oil and gas industry having operations that span various countries in the United States, Europe, Australia/Oceania, Asia, Africa, and Canada/South America. This company based in Irving Texas and founded in 1870 was formed in 1999 with the merger of Exxon and Mobil. Exxon Mobil deals in the production, exploration and transportation of natural gas and crude oil and manufacturing and transportation of petroleum products. The company also produces and sells petrochemicals which include polyethylene, aromatics, olefins, polypropylene plastics and other products. It sells gas under the Esso brand worldwide with the company having interest in 37 refineries worldwide and marketing its products through approximately thirty two thousand retail stations. In 2010, the company recorded a net profit of $30.4 billion a 57% rise from the previous year with oil and natural gas per day averaging 4.44 million barrels per day (ExxonMobil, 2011, pp. 1).
Globalization in Exxon Mobil Corporation:
Globalization is the process by which companies, regional, societies, culture, economies and cultures have become integrated through an internationally spanning network of trade and communication. Exxon Mobil has operations that span various countries in the United States, Europe, Australia/Oceania, Asia, Africa, and Canada/South America. The types of culture, market and legal systems that exist in these countries range according to various policies that regulate the market place operations, yet they are integrated by a globally spanning network which makes doing business in these locations efficient (ExxonMobil Annual Report, 2010).
Effectiveness and Efficiency in the Oil industry: Globalization drivers
Globalization is often motivated by the desire of countries to tap into the wider macroeconomic benefits that come with the free flow of financial capital and also by the desire of companies to increase their profits. George Yip (Daniels, Radebaugh, Sullivan, 2010) showed that in order to understand the degree of globalization in an industry it is imperative to analyze what drives globalization in that industry. He pointed out to five drivers of globalization, that is, market globalization drivers, competitive globalization drivers, government globalization drivers, technological globalization drivers and cost globalization drivers. Within the oil industry, the market drivers of globalization that have increased effectiveness and ...
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