Summary
Contents
Subject index
This book discusses the issues and challenges of organizing and managing in the context of a globalized world. It provides insights and perspectives on the realities of organization in a world where governance structures, organizational processes, management practices, and employment relations are in a vortex of transformation. It analyzes the political, economic, sociological, cultural, institutional, and legal factors that shape these realities.
Globalization
Globalization
Introduction
On the evening of February 27, 2007 the world's major stock markets were collapsing, losing as much as they did on 9/11 on a single day in New York. The next day, as The Guardian reported, the causes were analyzed as exposure of the US financial sector to subprime mortgages, a high-risk form of home loan that proved lucrative when the housing market was booming. By September 2007, that the contagion was spreading was evident when the UK Northern Rock Bank collapsed—its exposure to loan-based capital damned it in a global market whose subprime blues were all too evident, albeit it was not itself exposed as a US subprime lender.
Two aspects of globalization are evident in this story. First, the role of global ...
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