Impacts of Globalization and Conflicts on Business Performance and Possibilities of Its Solution

Abstract

Research background:The concept of globalization is interpreted by various authors in terms of its importance or content. Globalization refers to the process of gradually erasing the borders of nation-states, and economic globalization is the culmination of this process. The proof is the interconnectedness of economies around the world, where each economy reacts sensitively to fluctuations and changes in other economies.Purpose of the article:The paper deals with the examination of conflicts in the work environment of selected companies and the subsequent formulation of suggestions and recommendations for improvement.Methods:Nowadays, conflicts in industrial relations and failure to manage conflict situations are one of the biggest problems in companies. A quantitative questionnaire survey was used to find out the current situation in companies in terms of conflicts, specific causes of conflicts, the impact of conflicts on work performance, how employees resolve work conflicts, and their awareness of alternative conflict resolution, with whom employees most often come into conflict. The questionnaire was anonymous; therefore, the specific company names are not given. The numbers of 190 selected companies were contacted, and 93 of them were replied to the questionnaire, which forms a survey sample.Findings & Value added:The conclusion contains recommendations for individual respondent’s businesses to successfully resolve and prevent conflicts in the workplace, and thus strive to build a peaceful working atmosphere without extra costs incurred ineffective conflict resolution. Furthermore, there is an evaluation of the economic aspect and demonstration of the benefits of acquiring and using the skills of alternative conflict resolution in the form of elimination of losses.