You will prepare and submit a term paper on Labor Market and Globalization. Your paper should be a minimum of 3750 words in length. The fact is that every culture in different countries has differences from one another. At the risk of stereotyping, some cultures are more traditional – they are more masculine, less inclined to accept individual differences, and more respecting of hierarchies. These societies have basic inequalities. Other cultures are the opposite of this. Some cultures are individualist, and some are collectivist. Management must know these cultural differences, and they must have the skills to overcome the differences. They also should have a pragmatic way of dealing with the differences.

Moreover, there is also the issue of outsourcing. This is another implication of globalization. When this occurs, there is inevitably a challenge. The employees may feel that they are going to be next, and the atmosphere may be poisonous. A good manager must have a way of overcoming this.

To this end, manager developmental models may be pinpointed to problems or management developmental models may be broader-based. There should be a combination of both types of training, for optimal effect. Competency-based training is more broad-based, giving skills that transcend different situations. Assessment and development centers give pinpointed advice and training for certain situations. Another model is the multi-rater feedback. This means that there is an assessment from the people who know the manager best, and the manager also does a self-assessment. These different models have different implications for the globalization challenges, but when used in conjunction with one another, especially the competency-based model with the assessment and development center model, the manager would have the best training possible to deal with globalization challenges.

This paper will outline the management development models. Then it will be talking about globalization, explaining it, and explaining what the challenges with regards to globalization.