Global Management | How it Resonates

Although I try to teach relevant and practical lessons, sometimes my lectures fall flat in resonating with real-life situations.

One way I’ve found to bridge the gap between course material and a student’s comprehension and perspective is to invite them to reflect on the lecture using specific examples from their own experiences.

Recently, a student penned a poignant reflection, aligned perfectly with the information I had introduced in the lecture and complementary to exactly what I hope our future generation is doing to improve our understanding of organizational management.

In their own words ‘this’ is what they said:

Hello Jacqueline,

This week’s dialog about “Global Management” was an exciting learning experience. I had previous knowledge of some of the general content presented. However, going in-depth on strategies, benefits, tariffs, how they work, trade agreements, assessing business climate, and others was pretty new. Your use of real-world or fictitious examples helped me understand the learning objectives. In this world of globalization, international business management is an important skill, no matter what business you manage.

What resonated with me, you ask?

As you know, I am an international student from a developing country; so when you mentioned globalization’s effects on developing countries’ economies, it got me thinking. Yes, I am grateful for the opportunity to attend school and live in Canada, but what impact could I have made on my home economy if I had invested in Dominica the exact amount that I did here (house, car, tuition, etc.). The economy would have some ripple effects by employing people, patronizing businesses, and paying taxes. However, the return on investment would not be as good for my family as in Canada. So, what does one do? Develop their country of birth or focus on self-preservation and invest where it is more profitable. On the flip side, because of globalization, foreign investors can make significant investments in developing countries, hotels, supermarkets, nature resorts, and more, creating plenty of jobs in the economy.

Additionally, they enable local small businesses such as farmers, essential oil manufacturers, fishermen, and restaurants to generate revenue and keep employing people; they also pay corporate taxes to the treasury and sales taxes on every purchase made in the country. The effect of globalization on the economies of developing countries can be both positive and negative: give and take, win some, lose some. From the management standpoint, we should be prudent when researching new markets to explore internationally; is the market reachable? Are the proposed ideas sustainable for the potential market? What is the size of the market? What are the demographics? What is the culture within the industry in which we may invest? Will it be profitable to operate within this market? These and other questions are essential in making a final decision.

Why it resonates with me?

Because I come from a developing country, having worked in the management of fine dining restaurants, which mainly cater for cruise and stay-over visitors to Dominica, I have witnessed and lived the effects of globalization, from shopping in stores of foreign investors to catering to visitors and shopping from farmers and fishermen. The ripple effect of global business is felt deep within developing countries’ economies. Additionally, my mom has worked as a senior cook at an internationally renowned resort for 18 years, so I have been living and benefiting from the effects of globalization since childhood; gaining an in-depth understanding of the business management aspect of it is surreal.

So what?

Many developing countries possess the raw materials for many of the final products in many industries. But, because of the lack of manufacturing infrastructure to add value and export final-use products to the world, these countries do not maximize the potential benefits of the raw materials they possess. Why don’t manufacturers invest in factories within the developing countries and create jobs, rather than just taking the raw materials and leaving with them? If this were the case, many developing countries would develop significantly.

I know I have jumped about a bit in this reflection and wrote from my perspective, but I hope you enjoyed the read.

Thank you!

OHSSEL TYSON

MacEwan University | #globalmanagement #organizationalmanagement