Write 6 page essay on the topic Global Marketplace.
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As of the year 2012, the nations of India and China are the largest producers of graduates all around the world (Coughlan, 2012). This oversupply of qualified human talent is lowering the competition for talent in the markets of India and China and as a result leading to lowering of job costs in these specific markets. Additionally, in analysing the scenario from the financial as well as strategic perspective, the currency difference that exists between the Western and Eastern nations of the globe are further generating lucrative options for organizations of the West who can get the desired jobs done at much lower costs from the low cost talent base available in the market of the East. The influence of the macro economics and market dynamics of the various nations also has to be taken into consideration while trying to gauge the factors that are fuelling outsourcing. The stress in the economic growth of the global nations is directly creating pressures on the manpower costs that can be handled by the organizations. The organization management trends reveal that companies are opting for lean staffing and high employee productivity. Routine restructuring of the work force by organizations are leading to discharging of skilled employees who are again opting forward to cover their own lifestyle expenses by working in a freelancing mode. This is indirectly triggering the demand for freelancing in an indirect manner (Pattison, 2009). To leverage the advantage emerging out of low cost skilled talent available in the global markets, especially from the nations of the East, the organizations of the global markets are turning to outsourcing of jobs of certain levels. Also, the factors of…
This paper stresses that talking in regards to role conflict, it can be said that this factor might emerge in virtual teams as the various employees who are working for an organization as a part of the virtual team are spread in different geographical location. The lack of face to face interaction among the team member automatically leads to the lack of coordination within the team. This might automatically trigger a potential conflict in regards to the roles that are supposed to be performed by the various remotely operating members of the virtual teams. As a process of resolving these issues, the HR department of the organization dealing with international HRM issues should focus on clear role definition for the employees working as a part of the virtual team of an organization
This essay makes a conclusion that in discussing about the interpersonal relationships and work relationships, it is important to consider that since the members of the virtual team are operating in a remote manner, there is a tremendous lack of interaction among the team members of both formal as well as informal nature. From the point of group dynamics, it needs to be stated that for smooth operating of any team, it is important to promote mutual interaction within the team members. For the process of promoting interaction among the team members working in a virtual team, the HR department of the organization needs to encourage the team leader responsible for supervising the virtual team to promote mutual interaction among the team members of both formal and informal manner.
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