TESC, August 2015
In this comprehensive term paper, you can use all of your previous 11 written assignment papers and answers to build this final term paper. First, provide a descriptive title or heading by focusing on topics or countries that interest you (such as “Managing Global Expansion of XX in Country YY: Challenges and Strategies”), and then discuss and explain the main concepts, using the following sub-headings as a guide:
1. Introduction. Provide a brief focus statement about your paper and what the reader can expect.
2. Global World Economy. Discuss the importance of globalization in today’s global economy.
3. Cultural ...view middle of the document...
This paper will discuss the why and how South Korea became a part of the global economy and the driving forces behind globalization. Finally, this paper will discuss what managers can do to successfully work with the opportunities and challenges in this global economy.
Globalization has been a huge factor in South Korea’s growth and economic success. After the Korean War, South Korea essentially had no infrastructure and no natural resources to get it going. One thing they did have was a government that was eager to be a part of the rest of the world and develop its economy. According to Kim (2009), South Korea is well known for its rapid economic growth, because the economic growth was centrally planned and its policies were trade-oriented. South Korea also has a well-educated and trained labor force that has strong work ethics. I saw first-hand how education plays a big role. South Korean children start learning at a very early age and they typically attend school six days out of the week. South Koreans have a desire very early in life to live better than the previous generation and to improve their standard of living. Kim (2009) also suggested that South Korea needed to expand its role in meeting global standards, which meant that they needed to participate in environmental agreements. South Korea also needs to contribute more aid to developing countries.
South Korea has been a tremendous contributor to technology. South Korean corporate giant Samsung is supporting the country’s globalization with its partnerships abroad. This company is one of the world’s leading manufacturers of televisions, phones, tablets, cameras, and appliances. One of its biggest projects over the last few years was working with DreamWorks Animation, an American company, to jointly produce 3-D televisions.
South Korea’s growth and globalization can be seen in the automobile sector as well. Being the home of Hyundai Motor Company and Kia Motors, these two automobile makers have seen globalization of their products in the United States and Europe. Over the past five years both companies have become the biggest Asian carmaker in Asia. They have also begun to see record growth in the United States. Perception of both of these automakers has changed over the years and they are in high demand around the world. Korean products and services have not only seen acceptance but also very high demand from both local and foreign consumers. The citizens of South Korea should feel very proud that products they are making are having a big impact around the world.
While these companies are having great success outside of South Korea, globalization inside of South Korea’s domestic market has not yet reached its full potential. Most Koreans still have a passive view that international competition would greatly hurt local businesses. Koreans for some reason still feel that their products are falling short of global standards and can’t compete well with...