Globalization is the term used to describe the current world relationships that involves many local markets interacting with other local markets. Local economies have shed their boundaries and now are part of a larger economy that includes all markets from around the world trading goods and services. Organizations in other countries of different cultural backgrounds are actively competing for goods and services.
Outsourcing is the term used when companies solicit other companies to perform jobs that could normally be completed in house. The choice of outsourcing is usually driven by cost where outsourcing is much cheaper than performing the service in house. If the company solicited is out of the country, the term is referred to as off shoring which falls within the realm of globalization.
Virtual Teams are composed of professionals working on a project or projects that are not bound by time or space boundaries and communicate through technological means example, email, virtual meetings, video calls and conference calls. Virtual team members may be located within the country or across the globe. Communication technology is an integral part of virtual team which helps team members to collaborate and move through steps and complete projects.
Globalization and outsourcing via off shoring has changed IT Project Management due to the availability of IT personnel in remote places on the globe. The advancement in communication technology has enabled virtual teams to work on IT projects. This has enabled organization to garner quality and affordable support from capable IT personnel from other countries around the world.
Post by Nicholas Clarke
I agree with you, Globalization makes outsourcing more accessible from any part of the world and virtual Teams make it easier to communicate no matter the distance. Its very interesting how virtual teams work and the advantages to keep in contact without having to meet physically with other team members.
ReplyDeletePost by Daniel Vasquez
Globalization has changed the business landscape, and opened new opportunities as well as new challenges, I believe that challenges such as virtual teams, and cultural differences will become irrelevant with time for the new generation of managers or recent college grads entering the workforce will be already aware of this concepts and technologies.
ReplyDeleteGood! Pf Forman
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