Outline the impact globalization has on business relations


Problem

After missing out on an important deal in India, United States business negotiator James learned that his team member Tom felt he had been rushing through the talks with their potential business partner Chiyo who is Japanese. James, however, thought he was being efficient with Chiyo's time and adopted a rapid-fire approach to discussions. Their cultures have dissimilar views on how to conduct negotiations, and in this situation, the cultural barrier prevented a successful outcome. The world is increasingly integrated because of globalization creating borderless environments for work, study, doing business and living. Therefore, it is important that organizations implement policies and practices that are culturally sensitive, as failure to practice inclusivism among organizational stakeholders, may result in miscommunication and even poor business performance.

Prepare a report on the "Importance of effective intercultural communication and cultural sensitivity in today's organization.

The report should have

1. Outline the impact globalization has on business relations regarding intercultural communication and intercultural ethics

2. Discuss three pros and three cons of having a diverse workforce in an organization

3. Suggest one solution to any of the cons outlined in section (2) above. Use research to support your arguments

Use appropriate examples to identify and describe issues that may impact the cases and literature to support your arguments where possible.

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Financial Management: Outline the impact globalization has on business relations
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