Globalization versus Localization: The New Management Paradigm of 21th Century
DOI:
https://doi.org/10.22394/1726-1139-2022-1-64-75Keywords:
globalization, deglobalization, localization, paradigm of management, ecological crisis, the global supply chain disruption, trade protectionism, techno-protectionismAbstract
The 21th century challenges and the erosion of the global economic and business networks makes it urgent the rethinking of the main scientific research discourse in management. The article provides the overview of the scientific publications, dedicated to the globalization of the world economy and the main causes of the upcoming deglobalization. It is highlighting the impact of the strengthening trade and techno nationalism as well as the COVID-19 pandemic consequences on the world economy in general and the creation of global value chains in particular. It is also explains the imperative of economic and business processes localization by the degradation of the global environment and climate change. Some authors state that the new theoretical mainstream and a paradigm of management is needed to reflect the realities of the substantial transitions in the global economy.Downloads
References
Ansgar B., Daniel G. The slowdown in trade: end of the "globalisation hype" and a return to normal? // Journal of economics and finance: JEF. New York: Springer. 2021. Vol. 45. N 2. P. 225-239. DOI:10.1007/s12197-019-09498-0.
Avinash J. Background to globalization. Mumbai: Center for Education and Documentation. 2000.
Beingessner N., Fletcher A. "Going local": farmers' perspectives on local food systems in rural Canada // The Agriculture, Food, & Human Values Society (AFHVS). 2020. Vol. 37 (1). P. 129-145. DOI: 10.1007/s10460-019-09975-6.
Boysen Th. At the boundary: Post-COVID agenda for business and management research in Europe and beyond // European Management Journal. 11 January, 2021. DOI: http://dx.doi.org/10.1016/j.emj.2021.01.003.
Buckley P. J., Casson M. C. The future of the multinational enterprise. London: Homes and Meier Press, 1976.
Cairncross F. The Death of Distance: How the Communications Revolution is Changing our Lives. Boston: Harvard Business School, 1997
Chowdhury at al. COVID-19 pandemic related supply chain studies: A systematic review // Transportation Research. P. E. Logistics and Transportation Review. Elsevier. 2021. Vol. 148 (C). DOI: 10.1016/j.tre.2021.102271.
Collings D., Sheeran R. Research insights: Global mobility in a post-covid world // The Irish Journal of Management. Sciendo. 2020. Vol. 39 (2). P. 77-84. DOI: 10.2478/ijm-2020-0002.
Delios A., Perchthold G., Capri A. Cohesion, COVID-19 and contemporary challenges to globalization // Journal of World Business. 2021. Vol. 56 (3). Research Collection Lee Kong Chian School Of Business. DOI: 148376265.
Devinney T. M., Hartwell C. A. Varieties of populism // Global Strategy Journal. 2020. Vol. 10 (1). P. 32-66.
Dimitrijević M.M. Strane direktne investicije kao nosioci procesa globalizacije. Doktorska disertacija. Ekonomski fakultet Univerziteta u Nišu. 2016.
Dreher A. Does Globalization Affect Growth? Empirical Evidence from a new Index Globalization // Applied Economics. 2006. Vol. 38. N 10. P. 1091-1110. DOI: 10.1080/00036840500392078.
Dukeshire S. at al. Beliefs, attitudes, and propensity to buy locally produced food // Journal of Agriculture, Food Systems, and Community Development. 2010. Vol. 1 (3). P. 19-29.
Elleby Ch., Domínguez I. P., Adenauer M., Genovese G. Impacts of the COVID-19 Pandemic on the Global Agricultural Markets // Environmental & Resource Economics, Springer; European Association of Environmental and Resource Economists. 2020. Vol. 76 (4). P. 1067-1079. DOI: 10.1007/s10640-020-00473-6
Enderwick P., Buckley P. J. Rising regionalization: Will the post-COVID-19 world see a retreat from globalization? // Transnational Corporations. 2020. Vol. 27 (2). Available at SSRN: https://ssrn.com/abstract=3692317.
Fungal H., Wub J-Y., Yauc J. Toward a New Paradigm for Corporate Financial Management in the Wake of the Global Financial Crisis // International Review of Accounting, Banking and Finance. 2011. Vol. 3. N 3. P. 27-47.
Gilpin R. Global Political Economy: Understanding the international economic order. Princeton: Princeton University Press. 2001
Hitt M., Holmes R., Jean-Luc M. The (COVID-19) pandemic and the new world (dis)order // Journal of World Business. Elsevier. 2021. Vol. 56 (4). DOI: 10.1016/j.jwb.2021.101210.
Hitt M. A., Holmes R. M., Arregle J.-L. (2021). The pandemic and the new world (Dis)order // Journal of World Business. Forthcoming. 56. 101210. 10.1016/j.jwb.2021.101210.
Horner R., Hulme D. From international to global development: New geographies of 21st century development // Development and Change. 2019. Vol. 50 (2). P. 347-378. DOI: 10.1111/dech.12379.
Hu Shiwei, Zhang Yuyao. 2021. COVID-19 pandemic and firm performance: Cross-country evidence // International Review of Economics & Finance. Elsevier. Vol. 74 (C). P. 365-372. DOI: 10.1016/j.iref.2021.03.016.
International Business. Routledge, Abingdon UK & New York. P. 60-77.
Knight E., Jones A., Gertler M. The public university and the retreat from globalisation: An economic geography perspective on managing local-global tensions in international higher education // First Published. December 8, 2020. Research. DOI: 10.1177/0308518X20959082.
McWilliam S. E., Kim J. K., Mudambi R., Nielsen B. B. Global value chain governance: Intersections with international business // Journal of World Business. 2020. DOI: 10.1016/j.jwb.2019.101067.
Michie J. (ed.). The Handbook of Globalization. Cheltenham, 2019. DOI: 10.4337/9781788606.
Ohmae K. The Borderless World: Power and Strategy in the Interlinked Economy. New York: Harper Press, 1990. Revised version published in 1999.
Oldekop J., Horner R., Hulme D., Adhikari R. at al. COVID-19 and the case for global development // World Development. Elsevier, 2020. Vol. 134 (C). DOI: 10.1016/j.worlddev.2020.105044.
Olivier M., Wilson B., Howard J. Measuring Localisation Nationally to Form a Global Index // Ecological Economics. July 2017. DOI: 10.1016/j.ecolecon.2017.03.011.
Paul S. K., Chowdhury P. A production recovery plan in manufacturing supply chains for a highdemand item during COVID-19. Int. J. Phys. Distrib. Logist. Manag. 2020. Ahead-of-print: 1-22. DOI: 10.1108/IJPDLM-04-2020-0127.
Perlmutter H. V. The tortuous evolution of the multinational corporation // The Columbia Journal of World Business. 1969. Vol. 4. P. 9-18.
Radulović1 M., Kostić M. Globalization and economic growth of Eurozone economies // Zb. rad. Ekon. fak. Rij. 2020. Vol. 38. N 1. Р. 183-214. DOI: 10.18045/zbefri.2020.1.183.
Rodrik D. Populism and the economics of globalization // Journal of International Business Policy. 2018. Vol. 1 (1-2). P. 12-33.
Rydehell H., Isaksson A., Löfsten H. Business networks and localization effects for new Swedish technology-based firms' innovation performance // The Journal of Technology Transfer. Springer, 2019. Vol. 44 (5). P. 1547-1576. DOI: 10.1007/s10961-018-9668-2.
Shah R. A New Development Model for a World in Crisis // Foreign Affairs. September/October 2021. URL: https://www.foreignaffairs.com/articles/africa/2021-08-24/covid-charter.
Sheffi Y. Enduring lessons from the COVID 19 pandemic // Supply Chain management. March 1, 2021. URL: https://www.scmr.com/article/enduring_lessons_from_the_covid_19_pandemic?__cf_chl_managed_tk__=pmd_bor_2bdkFVdkIcKzmJ6BBJIsonCdnVce0NVUKdqXYgo-1635850489-0-gqNtZGzNAyWjcnBszQiR (accessed: 12.12.2021).
Smith R. C. Will Populism Kill Globalization? // Independent Review. 2019. Vol. 24. N 3. P. 433- 440.
Strange R., Magnani G. (2017). Outsourcing, offshoring and the global factory // The Routledge Companion on International Business and Economic Geography / eds. Cook G., McDonald F. Routledge, London: The new Globalization, Going beyond the Retoric.
Subramanian A., Martin K. The Hyperglobalization of trade and its future // PIIE, working paper. Peterson Institute for International Economics, Washington/DC, July. N 13-6.
Palley Th.I. The Fracturing of Globalization: Implications of Economic Resentments and Geopolitical Contradictions // Challenge. 2019. Vol. 62. N 1. P. 49-66. DOI: 10.1080/05775132.2019.1574961.
Trudeau J. Speech to the United Nations assembly // Canadian Broadcasting Corporation. September 25. URL: http://www.cbc.ca./news/politics/trudeau (accessed: 12.12.2021).
Wamkele Mene. African growth: a new model for a post-COVID-19 world // International trade center. 21 Sept. 2020. URL: https://www.intracen.org/news/African-growthA-new-model-for-a-post-COVID-19-world (accessed: 12.12.2021).
Waters M. Globalization. London: Routledge, 1995.
Weis T. The accelerating biophysical contradictions of industrial capitalist agriculture // Journal of Agrarian Change. 2010. Vol. 10 (3). P. 315-341.
Xiaohua B., Xiaozhuo W. The Evolution and Reshaping of Globalization: A Perspective Based on the Development of Regional Trade Agreements // China and World economy. 15 January, 2019. URL: https://doi.org/10.1111/cwe.12267 (accessed: 12.12.2021).
