In this paper, we critically examine different discourses of globalization and explore how concepts of globalization have been represented in organizational theory. One of the meanings of multiculturalism is the coexistence of different cultures. The term ‘multiculturalism’, however, has not been used only to describe a culturally diverse society, but also to refer to a kind of policy that aims at protecting cultural diversity. Although multiculturalism is a phenomenon with a long history and there have been countries historically that did adopt multicultural policies. Then, globalization becomes the new global colonialism, based on the historical structure of capitalism and is a process that executes the objectives of colonialism with greater efficiency and rationalism. We discuss the economic, political, social and cultural aspects underlying globalization, and argue that the emergence of a so-called `global culture' is simply a process that marks the transformation to a culture of consumption. We interrogate the notions of diversity and multiculturalism, and argue that the successful management of diversity, presented as the new prerequisite for sustainable competitive advantage, effectively continues global colonialism. We argue that, despite the rhetoric of celebrating difference, multiculturalism does little more than facilitate assimilation within the dominant ideology. We examine the different structures and processes of globalization, and conclude by discussing the possibility of alternate theorizations and a discursive redefinition of globalization involving the creation of new spaces that can articulate alternate forms of economic and social realities. We are witnessing an increasing proliferation of literature trying to understand the new economic, political, and cultural arrangements that are inaugurated by global capital. The accelerating rate of the international division of labor, the extended capacity of multinational production, the development and concentration of global financial and banking services and culture industries, the rapid development in telecommunications, and the growth of a global mass culture have led many to talk about a process by which the world is now becoming a single and unified space. Globalization, according to the advocates of this position, marks the beginning of a process whereby difference is dissolved within the logic of sameness and cultural unity.