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 cross-border trade activities, open markets, migration and technology advancement take place in today’s world. Though hardly any institution in the world has been able to escape the effects of globalization, its effects on multidisciplinary consult any firms in Sri Tanka remains a subject little analyzed despite the fact that firms that are global in nature play a dominant role within the domestic construction industry. This research aims at identifying the magnitude of globalization processes on Sri Lankan multi-disciplinary con suit any firms in order to help them withstand the negative effects while upgrading existing practices in order to be more in tune with the demands of the modem world. The principal methodology used in the study is a preliminary survey, followed by a comprehensive questionnaire survey administered to professionals from multi-disciplinary consultancy firms. The study identified both positive and negative effects of globalization on local multi-disciplinary consultancy firms. Based on these results, a framework has been developed to help local multi-disciplinary consultancy firms withstand the negative effects while modifying current practices to sustain themselves in the face of globalization, which would require that they focus continually on innovation and research.