Globalization is all about hiring Candidate A, a citizen of Country B, with permanent residence in Country C, married to spouse from Country D, sent for training to Country E and then to be permanently assigned a job in Country F. The resultant changes due to globalization have ushered in new challenges which have to be tackled and overcome. Organizations that "work smart" are proactive for they are aware that to succeed tomorrow they have to plan today.

International, transnational and multinational companies have been achieving unprecedented economic and political success due to the favorable conditions that have been made possible by the advent of communication and transportation technologies. Geographical distances are no more a constraint in the expansion of business. The expansion of economic markets, the desire to access better pools of resources, the challenge of competition and improved mobility of people have also fostered internationalization of business. Globalization means managers need to be prepared to do business with people from all kinds of cultures, abroad as well as at home.

In this context, there is an underlying phenomenon and a realization. The phenomenon is the aging of the industrialized world and the realization is that a few large organizations are really preparing for this transformation. In most cases, firms have climbed from domestic, traversed through international and multinational and finally, established global operations. The shortage of skills and labor coupled with a diverse and demanding new work force are factors that cannot be ignored and managers must pay more attention to these trends and their implications.

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