Xmgt 216 Week 8 Business Ethics and Globalization

Topics: Business ethics, Ethics, Foreign Corrupt Practices Act Pages: 2 (527 words) Published: June 24, 2011
Business Ethics and Globalization

Globalization is a process of interaction and integration among the people, companies, and governments of different nations. It is a process driven by international trade and investment which is aided by information technology. The process of globalization has effects on the environment, culture, political systems, economic development and prosperity, and on our physical well-being in societies around the world. Because many businesses have been faced with increased competition in the global marketplace they are trying to find new ways to be more cost effective. However, when an American business does decides to do business in a foreign country there are a number of different ethical issues that brings major concern to many. When an American business decides to do business overseas their motives may be in question because when an American business pays its workers in foreign countries, local market wages they are viewed as exploiting the people of that country for the companies benefit, not that of the people in that country. Another ethical issue resulting from globalization is the work conditions in factories, otherwise known as sweatshops. The work conditions in sweatshops are usually substandard and unsafe. They are clandestine facilities that are cramped and infested with rats and have no heat or air conditioning, and can even sometimes be found behind barbed wire fences monitored by armed guards who force them to work extremely long hours which they are not compensated for. Another ethical issue resulting from globalization is the treatment of the workers. In many of these overseas factories or sweatshops the workers work under slave like conditions. The workers in sweatshops are often verbally abused, beaten, spat on, and threatened with corporal punishment. An ethical issue resulting from globalization on the environment is concerning global warming. This has become a concern because of the widespread...
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