The pro-Brexit vote and the results in the US elections of 2016 signalled a dark time in the history of human collaboration and globalization. This follows less than a decade after the financial crisis that emerged in the US followed by a massive debt and banking crisis in Europe. In the US and UK, society itself seemed split in 2016 during these two landmark votes. Five major shifts have been observed about the world now. One is a rise in income inequality. To put things into context, as per business intelligence provided by an Oxfam report, just eight people now own as much wealth as more than three-and-a-half billion other people do. The second major shift has been technology causing change in the nature and availability of jobs. A third is rising protectionism in business all over the world, especially among the traditional economic giants in the west. Recent election results in France, the Netherlands and significantly in Germany show that in spite of efforts by right-wing parties, majority of the people voted in favour of globalization and liberal principles. There is also the growing concern of immigration especially of refugees from war-torn countries such as Syria, Afghanistan and Iraq. Their integration into mainstream societies in their new homes will be a major challenge. A final concern is the growing role of digital marketing through social media outlets in influencing people’s thoughts.

Source:http://knowledge.wharton.upenn.edu/article/what-are-the-top-five-challenges-for-international-organizations/

Uploaded Date:19 January 2018