The effects of globalization on multi-disciplinary consultancy firms in Sri Lanka

Abstract

'Globalization'is a phenomenon that describes the accelerated pace at which interaction and expansion in crossborder trade activities, open markets, migration and technology advancement take place in todqy's world. Though hardlY any institution in the world has been able to escape the effects oj globalization, its effects on multidisciplinary consultanry firms in Sri Lanka remains a subject little ana!yzed despite the fact that firms that are global in nature plqy a dominant role Ivithin the domestic construction industry. This research aims at identijjing the magnitude ojglobalization processes on Sri Lankan multi-disciplinary consultanry firms in order to help them ulithstand the negative effects while upgrading existing practices in order to be more in tune with the demands oj the modern norld. The prinapal methodology used in the stuc!J is a preliminary sUrJJl!),fo/lowed by a comprehensive questionnaire sUrJJl!)administered to professionals from multi-disciplinary consultanry firms. The stuc!J tdentified both positive and negative effects ojglobalization on local multi-disciplinary consultant) firms. Based on these results, a framework has been developed to help local multi-disciplinary consultancy firms lvithstand the negative effects while modijjing current practices to sustain themselves in the face oj globalization, Ivhich would require that thl!)focus continually on innovation and research.