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Essay text:
Externally, Tanzania could not escape the reality of globalization forces. In 1995, Tanzania introduced privatization policies which include attracting foreign direct investment (FDI) and multinational companies (MNCs), to improve its socio cultural and socio-economic conditions.
In early 2000, US based Citibank and South Africa based Standard Bank started providing financial services in Tanzania. Both the banks claimed to possess global “best practices” in managing their organizational structures and human resource management policies. All foreign investors to Tanzania faced the same sort of pressure of thinking GLOBALLY but acting LOCALLY...
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