The Moral Implications of Globalization in the 21st Century
Globalization, or global business, is defined by Ferrell as a practice that brings together people from countries that have different cultures, values, laws, and ethical standards. As the United States model of capitalism proved to succeed during the 1990’s and 2000’s, many businesses and countries worldwide began to uphold it as the premier business model. With this common system in place, the world began to become more and more globalized with the help of advances in areas like technology and high speed transportation. While many corporations experience a benefit from a globalized market place, we see many moral implications and inequalities that arise from globalization.
A number of global trends played an integral role in the globalization of business. Rapidly expanding world market connections has diffuse technology around the globe. This diffusion of technology has allowed manufacturing expand. Along with the increase in online sales, technology has also brought a dominant “open society” as data and images are so easily transmitted around the world. The ability to send information over the World Wide Web so quickly has allowed businesses to expand and capitalize on the ever changing globalized marketplace. Technological innovation has not only affected businesses, it has brought a global lifestyle with common dietary patterns, employment preferences, education systems, healthcare structures, and social behaviors.
The most astounding fact about technology is that we have only experienced the beginning of the potential technology has to offer. As the world becomes more and more globalized and connected, this new form of capitalism will drive technology forward. Consumers who seek the top of the line products and services will experience the benefit of competition among the top producers. People have enjoyed the benefits of a prosperous global economy, and become exposed to information about...
Please join StudyMode to read the full document