Final answer:
Globalization refers to the migration of management and workplace practices, reducing workplace disparities across countries. This process can lead to the outsourcing of jobs, promote diversity, and improve cultural understanding in the workplace.
Step-by-step explanation:
The phenomenon described in the question is globalization. Globalization refers to the increasing interconnectedness and integration of countries through the exchange of goods, services, ideas, and people. As companies expand their operations to other countries, management and workplace practices are transferred, leading to a reduction in workplace disparities across different nations.
For example, multinational corporations may move their factories to other countries where labor is cheaper. This globalization process can result in the outsourcing of jobs from developed countries to developing countries, leading to changes in local economies and the global labor market.
Globalization also promotes diversity and cultural understanding in the workplace. Through diversity training and interaction between individuals from different backgrounds, prejudice and discrimination can be reduced, enhancing teamwork and cooperation.