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Globalization and Management of Resources

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Globalization has profound effects on labor supply at both the national and international level since it causes increasing spread of production, communication and technology. The availability of a large pool of labor force, especially from developed countries, causes a decline in average wage rates within the production sector, which accommodates a significantly large number unskilled and semi-skilled workers. This leads to rising levels of unemployment among the locals who face difficulties in adjusting to wage rates lowers than the normal. By promoting the expansion of trade routes and partnership, globalization creates numerous employment opportunities in both the developed and developing nations due to benefits derived through foreign direct investment (Boudreaux, 2008). The developed countries, which largely engage in manufacturing and production, will enjoy benefits relating to trade liberalization. The injection of associate revenue leads to increased investment and expansion of job opportunities. However, developing countries, which mainly engage in agricultural production, will derive minimal revenue in associate trade relationships (Jaumotte & Tytell, 2007). The outcome is a stagnant or declining economic growth, which translated into reduced employment opportunities. Proper adoption and implementation of technologies employed in foreign direct investments offers developing countries the opportunity to spur economic growth and employment levels by adapting the technologies to local needs (Berberoglu, 2002).

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The acquisition and management of human, natural and capital resources is crucial concerning the sustenance of productivity and economic growth. Preservation of natural resources, which are declining at a fast rate, and area under threat due to opening up of the world through globalization, requires the adoption of intervention measures such as science in the development of alternative sources that meet rising demand (Bunker & Ciccantell, 2005). Globalization has opened up opportunities for exploitation of untapped human resource especially in the developed countries in terms of labor, innovation and invention. Furthermore, globalization has helped in facilitating the expansion of capital base for countries and expanded the scope of acquisition of capital resources so that they are manageable. 

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