ORGANIZATIONAL AND FINANCIAL PERSPECTIVES IN THE CURRENT CONTEXT OF GLOBALIZATION

Purpose In the current world economy, the process of continuous development of technology, technical-scientific progress, together with economic development, materialized in the opening of the circulation of goods, services and information, lead to the intensification of the globalization process. All these have major influences on the organizational and financial situation of companies. Methodology/approach The method applied in this paper focuses on an analysis of the situation of companies both from an organizational and financial point of view, in the current context of the market economy. The changes that take place due to the current situation, influence the structure, organization and financial status of most companies. A redefinition of the situation and priorities is urgently needed. Findings Research limitations/implications The study aims at an analysis of the evolution of the globalization process in our country Romania, going through the stages of development and integration of companies in the international context, the emergence and development of multi-national firms, and the forecast of the future situation, starting from the current context. It is inevitable to redefine priorities both nationally and globally, through a serious re-thinking and analysis of the economy and its effects. Practical implications In the era of the Internet and oil as commodity, travelling, mass production, consumption and transportation are re-defined. From cheap maritime transportation, online communication to low-cost flights all these make people’s life more dynamic, affordable and increases the way of life. These are parts of the benefits of the economic effects of globalization. There are also other effects, the re-location of different businesses or certain industries, like manufacturing to low costs labor costs regions/countries/continents, increasing for example un-employment in western countries or forcing a re-orientation or re-education of the work force. If we compare this with 100 years ago there are a lot of changes, most of them happening in the last 20 years with the start of Internet and the start of automation/robotization. With the 2020 Covid-19 pandemic, globalization will be most impacted, probably re-defined with a high pressure on local resources development to serve local needs in products and services. Originality/value The problem under study is an analysis of the evolution of companies in our country in the context of globalization, starting from communication, democratization and market economy, that is not achievable without the liberalization of capital flow, with the clear purpose of development and profit. The main companies involved in the globalization process are the multi-national firms, which exist and function in all sectors of activity. Many of them have and manage important financial flows, but which are currently in a delicate status. The study of their situation, priorities and possibilities of future evolution represents the main purpose of this paper