Possible Impact Of The Brexit Referendum On Globalization And Human Resource Management

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Title: The possible impact on the globalization of the result of the referendum that took place on 23rd June 2016 in the UK.

Introduction

The referendum that took place in the UK on 23^rd June 2016 is one of the best time when the Britons have decided to leave the European Union. This date is vital for the UK as they were provided the choice to remain in the European Union or leave them with the help of suitable referendum. Almost a 51.9% vote was for the vote to leave the place and reverse the 43 years old decision of adjacent. The strategy of the UK to leave EU could have the implications on the globalization as well as the Human Resource. The key principles of the globalization involve the trade, as well as immigration, is one of the major catalysts that pushed the country UK to exit the EU. The purpose of the report is to understand the impact of the Brexit on the globalization and also the working function of the human resource management team within the world.

Main context

The European Union has been failed from the protection of their population from the world economy model which is believed to be not working for them, and this is due to the facts Brexit (Sharma, 2016). This is one of the most vital parts of the world economy as the globalization is highly disturbed. It can be seen that the process of Brexit is not suitable for the globalization as this is the primary reason for the pullback of trade openness, globalization as well as the labour movements within the world. For the European Union and also for the United Kingdom the globalization is in great danger due to the vote to leave which created Brexit (Elliott, 2016). The result also provides the view that most of the politicians are supporting this separation and their primary reason is the immigration rules of EU. The human resource in this case face the issue with the recruitment process and also organizational activity as the global business are highly impacted. The vote provides the view that the maximum number of the UK public was not satisfied with the policies and the rules and for that the dissatisfaction with the globalization also created. The anti-globalization parties are gaining the mass support in the euro-zone countries due to the facts that the unemployment within the region remains within the double digits (Goodwin, and Heath, 2016). Various countries are facing various issues due to the facts and the policy that need to rectify the working function of the HR management in the countries.

The world is getting changed, and the new word for the world is De-globalization. One of the major fact for this process is the Brexit which have eventually put an end to the globalization. After the financial crisis of 2008, it can be seen that the world has entered the era where the crisis is being rectified by making them even more badly (Euromoney, 2018). Since the time of the financial crisis, an anti-establishment revolt was taking place. The Brexit is the clear case where the political leaders are involved in their anger for the countries that have left them behind in the globalization. This provides the view that the economic growth of the country need to have a back seat unless the political leaders clear the facts. The Brexit is the vote against London and all the globalized elite where the free trade, as well as the open borders, are also provided (Chandran, 2016). The globalization is highly affected by the process and the global financial crisis that could be visualized within the world. The global capital flow due to the Brexit and other reason like financial crisis have felt from the peak of 16% of the global GDP in the year 2007 to only 1.6% (Gamble, 2018). This is one of the major cause for the slowdown of the economic growth where each of the countries needs to downsize their ambition or face the new outbreak of the frustration. The world is changing, and so the policy regarding globalization also needs to be changed for the benefit of the country.

The vote of 23^rd June 2016 have a significant impact on the global economy, and their immediate reaction is in the financial market. The process creates an issue for the Britain economy as the trade within the UK and EU are weakened (Butler, Jensen, and Snaith, 2016). This is one of the vital aspects which creates barriers to the global development and also to the free trade within the world. For some of the countries and the political parties Brexit is the chance to develop their party and their country, but in the term of globalization, it is one of the biggest drawbacks for the countries. The vote result put the globalization on the slower process, and for that, the developing countries, as well as the poor people within the developing countries, are facing the huge problem (Ziv et al., 2018). The impact on the de-globalization was so huge that the people and the country are facing various issues on the part of the infrastructure, then employment as well as education. The entire process of the separation of two countries creates a huge problem for the world economy and for that there is numerous impact on the working process of the political parties. Brexit could not provide value for the current rise within the market. Moreover, it can be seen that the Brexit has limited the speed of the global economy for the UK and also for the EU. The impact on the globalization is huge due to the referendum and for that many people as well as the global economy is suffering.

Conclusion

The paper eventually concludes the facts that the referendum of the UK was not suitable for the global economy. They were not getting valuable globalization as they thought the Brexit would provide to the country. Moreover, it can be seen that due to this referendum the process of globalization has been put on hold as the free trade and the open trade became a huge problem for the country.

References

Butler, G., Jensen, M.D., and Snaith, H., (2016). ‘Slow change may pull us apart’: debating a British exit from the European Union. Journal of European Public Policy, 23(9), pp.1278-1284.

Chandran, N. (2016). Is Brexit a vote against globalization?. [online] CNBC. 

Elliott, L. (2016). Brexit is a rejection of globalization. [online] the Guardian.

Euromoney. (2018). The economic impact of Brexit: special focus. [online] 

Gamble, A., (2018). Taking back control: the political implications of Brexit. Journal of European public policy, 25(8), pp.1215-1232.

Goodwin, M.J., and Heath, O., (2016). The 2016 referendum, Brexit and the left behind: An aggregate?level analysis of the result. The Political Quarterly, 87(3), pp.323-332.

Sharma, R. (2016). Globalisation as we know it is over – a

Ziv, G., Watson, E., Young, D., Howard, D.C., Larcom, S.T. and Tanentzap, A.J., (2018). The potential impact of Brexit on the energy, water and food nexus in the UK: A fuzzy cognitive mapping approach. Applied Energy, 210, pp.487-498.

·         Your experience of working with a (study) group in an academic context. You should include something you learned from the post-presentation reflection here (150 words).

·         One key academic skill you have developed as a result of taking this module (150 words)

The experience of working with a group of academic context is quite different. It helps me to learn new and innovative things that are essential for me in the academic context. The primary thing that took place within the process is to prepare a report regarding the world issue that is created on human resource and the globalization. After the topic also creates that suitable presentation. For me, I have learned numerous things from this process. It eventually helped me in the various process to develop my skill and my activity in the various field. Like the some of the good moment that I experience from the process there are also some of the bad experiences. The conflicts within the group members regarding the process and the value were tremendous, and for that, there was always a huge clash between the members. In the process, most of the time situation that is created is to provide a valuable option for the betterment of the group work. The process is quite effective as this helps the firm to maintain their working function and their delivery of report in the particular time. There are the various thing that could have been performed within the group work to provide a valuable working function for the team. The entire projects need to be maintained in one of the effective ways to provide numerous benefits for the team members for gaining their potential and the way to develop their skills.

The group study eventually helps me to develop my skill of communication. This helps me to share my view and my idea with the rest of the group members, and for that, it helps to build my level of confidence for the future work. The communication skill is one of the most essential; factor within the academic development to provide a valuable function for the team. The primary thing that could be utilized in the process is to deal with the numerous process within the team members. I have gathered the knowledge that helps me to analyse the situation and provide suitable view regarding that phase. The most effective part of this is that the entire process of study and development allow me to improve my knowledge and look for the academic process.

I have also improved my skill for managing the team members and the leadership skill which is also required to perform a various activity within the academic session. The skills enable me to develop my passion and my working function within the university and also in my life. The most suitable and effective working function that allows me to develop my business and my skill are to deliver the projects with proper evaluation and analysis skill. Moreover, it can be seen that the student needs to develop their understanding process as well as their analysis skill for providing effective knowledge in the academic process. The most important thing that I learned from this course is that it allows me to develop an adequate understanding of the entire process for the academic session.