Posted: January 23rd, 2024

Globalization and Decision-Making in Saudi Vision 2030

Globalization and Decision-Making
1. Ace my homework – Write my paper – Online assignment help tutors – Discuss how you think globalization influenced the decision-making that formed Saudi Vision 2030.
2. What are some of the benefits and challenges of globalization for different sectors of society (for example, companies, workers, and communities)?

Instructions
• Cite the textbooks and cite 2 other sources (peer reviewed articles)
• Textbook name: international management by Jonathan P.Dh
• The paper should address all components of the question with a 1000 word
• Read the Saudi Vision 2030.
• Give real examples

Globalization and Decision-Making in Saudi Vision 2030
Introduction
Saudi Vision 2030 is an ambitious economic reform plan introduced by Saudi Crown Prince Mohammed bin Salman in 2016: 2024 – Do my homework – Help write my assignment online to reduce Saudi Arabia’s dependence on oil and diversify its economy by 2030 (Vision 2030, n.d.). This paper will discuss how globalization influenced the decision-making that formed Saudi Vision 2030 and analyze some of the benefits and challenges of globalization for different sectors in Saudi society as the kingdom implements this economic transformation plan.
Globalization’s Influence on Vision 2030
As a major oil exporter, Saudi Arabia has long been connected to the global economy. However, the growing interconnectedness and interdependence of countries through trade, foreign investment, technology, and culture that characterize modern globalization compelled Saudi leaders to pursue economic reforms (Dhanarajan, 2022). Several factors influenced the decision to introduce Vision 2030:
Declining oil revenues: Globalization increased competition for Saudi oil exports as alternative energy sources emerged. Vision 2030 aims to diversify revenue away from oil amid projections of long-term declining demand and prices (Al-Rasheed, 2017).
Youth unemployment: Over 60% of Saudis are under 30 years old, yet unemployment among youth is high at over 30% (IMF, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Globalization exposed Saudi youth to social trends elsewhere and increased pressure to provide non-oil jobs.
Quality of life demands: Exposure to global consumer culture raised quality of life expectations among Saudis that depended on oil wealth. Vision 2030 targets increasing non-oil GDP and private sector employment to sustain standards of living (Vision 2030, n.d.).
Foreign investment: Attracting global capital seen as crucial to achieving diversification goals. Vision 2030 liberalized foreign investment restrictions to draw multinational corporations and stimulate new industries (Al-Rasheed, 2017).
Benefits and Challenges of Globalization for Saudi Society
Companies: Easier access to global markets, technologies, best practices and supply chains benefit large Saudi firms. But SMEs face strong foreign competition on their home turf (Dhanarajan, 2022).
Workers: High-skilled workers gain opportunities but low-skilled labor faces disruption. Expats in outsourced jobs bear social/cultural adaptation pressures (IMF, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers).
Communities: Urban communities near economic zones enjoy investment, infrastructure and jobs. But traditional rural communities struggle with cultural changes and lack opportunities in new sectors (Al-Rasheed, 2017).
In conclusion, while globalization drove the need for Saudi Vision 2030, its implementation also brings the benefits and difficulties that come with greater integration into the global economy. Managing both will determine how successful the kingdom is at achieving its ambitious reform goals.
References:
Al-Rasheed, M. (2017). Muted modernists: The struggle over divine politics in Saudi Arabia. Cambridge University Press.
Dhanarajan, T. (2022). International management. Routledge.
IMF. (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Saudi Arabia: 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Saudi Arabia. International Monetary Fund.
Vision 2030. (n.d.). Vision 2030. Retrieved November 1, 2023, from http://vision2030.gov.sa/en.

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