‘Globalization Theory’ and the Complexity of Global Business

Abstract

Rather than beginning with the premise, as so many globalization theorists, critics and media commentators appear to do, that globalization represents a single phenomenon out there in the world to be explained and theorized (or even resisted), this book is concerned with the material practices of ‘doing’ business at the transnational or global scale in order to explore what the globalization of business activity actually consists of. It does this though the presentation of detailed empirical research into two of the most supposedly ‘globalized’ of advanced service industries (Bryson & Daniels 1998; Sassen 2001): investment banking and management consultancy. In examining the transnational nature of business activity in these sectors, the aim is to show how ‘generalized’ globalization theory is simply not up to the job of effectively theorizing contemporary transnational business, and how it may well be dangerously misguiding for business practitioners as a way of thinking about the world economy at present. The key argument is that a generalized approach to understanding ‘globalization’ is misconceived and often unhelpful because the concept is too amorphous and broad to permit meaningful theories to be based around it. Consequently, the insights developed from the research also have implications for academics, business managers, policymakers and even those who are seeking to resist the changes that globalization is seen to represent.

Globalization is a complex set of processes, not a single one. And these operate in a contradictory or oppositional fashion.

(Giddens 1999: 13)