As stated before, different authors have taken different stances on Globalisation and there are definitely conflicting theories and conclusions on whether it is something that is going to benefit not just the world, but its individual regions equally or not. One man who sees globalisation, and also the man who actually coined the term ‘Globalisation’ is Theodore Levitt who described it as being when “Corporations geared to this new reality benefit from enormous economies of scale in production, distribution, marketing and management. By translating these benefits into reduced world prices, they can decimate competitors that still live in the disabling grip of old assumptions about how the world works.” (Levitt, 1983) This is clearly focusing on the positives and benefits of globalisation, but there are many others with opposing views. One who does have an opposing view is Zygmunt Bauman. In his 2001 article, ‘AntiGlobos - The Ethical Challenge of Globalization’ he argues that Globalisation is…
Globalization is the growing trend towards worldwide markets in products, capital and labor, unrestricted by barriers. Globalization is not a new process but it has accelerated in recent years with the rapid growth of multinational companies and with the expansion of free trade with fewer quotas on imports. There are many key features of globalization, which has made an impact on business strategies such as; increased international trade, freer movement of workers between countries and finally the growth of multinational businesses in all countries. These create both potential opportunities but also limitations to businesses. In this essay I will discuss both sides.…
Today globalization is essentially a synonym for global business. Globalization is changing the world we live in at a very increasingly rapid pace (Rodrik., 1997). Changes in technology, communication, and transportation are opening up borders and markets at increasing rates. In any large city in any country, Japanese cars ply the streets, a mobile call can be enough to buy equities from a stock exchange half a world away, local businesses could not function without U.S. computers, and foreign multinationals have taken over large segments of service industries. Impact of Globalisation, both theoretically and practically, can be observed in different economic, social, cultural, political, financial, and technological dimensions of the world. Globalisation has created a new world order and is gradually reaching new heights, incorporating all the fields to form a cohesive network. (Boyer & Drache, 1996)…
In Globalization: The Making of World Society, Lechner talks about the processes that unfold in a wide range of fields such as sports, media, food industry, global economy, environment and religion due to globalization. He describes its effects on everyday experience all around the world and demonstrates how globalization is also generating new discourses, cultures, and state policies. He explains globalization as a part of a still-greater transformation, both technical and social.…
Globalization, defined as a “trend away from distinct national economic units and toward one huge global market” by Hill and McKaig in Global Business Today, has provided companies around the world with the opportunity to effectively reduce the…
Business ethics seeks to address issues that arise while doing business internationally. Not all states enforce ethical standards for business. Consequently, the global community regards the conditions of workers in certain states, particularly in the developing world, to be in direct violation of human rights. With the emergence of globalization, there are now low transaction and communication costs driven by advances in computer and telecommunication technologies; therefore, making the global market truly global. In the production of shoes, clothing and other commodity goods, business conducted internationally is now more…
Globalization has been described as the rapid increase in cross-border economic, social, technological exchange under conditions of capitalism, which also, influences all spheres of our life: culture, business, trade, politics, environment and even our mentality. It connects different countries and makes their interaction easier.…
'Globalization ' is a slogan of key ideas for business theory and practice. It is often confusing; sometime used as a way of describing the spread and connectedness of production, communication and technologies across the world; the overlapping of economic and cultural activity; rather is also used to the efforts of the International Monetary Fund (IMF), the World Bank and others to create a global free market for goods and services; politically and potentially, damaging for a lot of poorer nations - is really a means to exploit the larger process; in the sense of connectivity in economic and cultural life across the world, has been growing for centuries. However, many believe the current situation is of a fundamentally different order to what has gone before. The speed of communication and exchange, the complexity and size of the networks involved, and the sheer volume of trade, interaction and risk give what we now label as 'globalization ' a peculiar force.( 1) With increased economic interconnection, some argue, multinational corporations. which rose the globalization of the 'brands ' like Coca Cola, Nike and Sony. Anthony Giddens (1990: 64) has described globalization as 'the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa '. This involves a change in the way we understand geography and experience localness. As well as offering opportunity it brings with considerable risks linked, for example, to technological change. . Globalization, thus, has powerful economic, political, cultural and social dimensions.…
As stated by Vinoth Ramachandra, the author of Sojourners Magazine defines “globalization like every other historical process in a fallen world, shares in both the goodness of human creation and the distortion of creation by sin and evil. Its benefits and threats are equally real and are intertwined in a complex variety of ways. For every benevolent aspect of globalization, there is a malevolent side that threatens to overwhelm the good. It is thus a Janus-faced entity, a paradoxical phenomenon that reflects the paradoxical nature of the human condition (Ramachadra, 2004).”…
This paper applies a comparative approach to the ethical issues surrounding economic globalization. An analysis of the commonly debated issues and claims is represented by two arguments. Proponents of economic globalization believe that it advances the economic, technical, cultural, and intellectual interests of the global community. Anti-economic globalization proponents believe that it is harmful to global economic welfare across the same dimensions and that it tends to inequitably victimize the global community.…
Today’s era is one of competitive markets where the norm is to go one step beyond what the cutthroat market expects you to, if one wishes to achieve their objectives. Things change fast, so the only way out is to keep pace, or be left behind in the dust. It’s a dog eat dog world, where Darwin’s words ring true at every juncture: indeed it is survival of the fittest, be so by any means necessary. Karl Marx once stated about the market “all that is solid will melt.” Indeed the only thing that’s permanent is change. Now markets tend to shift towards some forms of equilibrium, which depend on the way people trade. By trade is meant the age old art of getting into an advantageous position in terms of business deals, strategies and negotiations. Innovation is the underlying fire which time and again revolutionizes markets. However, that isn’t the only ideal. Relevance to people’s expectations and preferences are often the necessary benchmarks used to garner success, and these can only be achieved via a plethora of strategies that tend to optimize both quality as well as cost management. With the onward march of the years, companies began to develop a massive platform that was used to secure billions of dollars of inventory, and made it one of their utmost priorities to deal with logistics so as to facilitate a smooth flow of their product lines in a timely as well as cost efficient manner. Naturally in this state of things, what has happened in the last couple of decades has been the enactment of trade laws aimed at promoting globalization. Indeed the idea of countries as economic entities primarily has never been so strongly established as in recent times. This has initiated arguments on the ethical dilemmas of globalization and the substantial role supply chain management plays in it. While a large number of people involved would advocate the argument that globalization comes with its potent evils, primarily in unregulated markets…
Many American companies that are outsourcing jobs to other countries create a problem in the economy of the Unites States and also creates a cultural effect in a global scale. To this day, The United States had lost millions of manufacturing jobs compared to two decades ago (Heffner, 2012). Americans can no longer compete to international manufacturers, which put the United States economy in doom. There are many factors involved as to why American companies’ decides to do its manufacturing business outside of the United States. The most obvious reason is the cost of labor. International wages from third world countries cost way less than wages in the United States. For example, manufacturers in China get paid 33 cents an hour (Heffner, 2012). As a company, the cost of doing business outside of the Unites States is way cheaper than hiring workers in the United States, which would cost more than 20 folds. In addition to wages, outsourcing jobs outside of the United States would also save companies cost for payroll taxes, benefits, and dealing with unions that are common in The United States.…
First we need to take a look at what globalization is before we can dive into what the ethical issues surrounding it is. Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world (http://www.globalization101.org/what-is-globalization). One ethical issue that can arise is discrimination of woman. For example, some countries do not see woman equal, so those countries may not want to negotiate or trade with companies from another country who has a woman in a management position. Another ethical issue is the unfair treatment of workers. Some countries do not treat their employees as fair as others. Some make their employees work in extreme heat with no breaks and some even have underage minors working for them. Another ethical issue is language barriers. Language barriers can affect trade by setting limitations because not everyone speaks the same language. This can cause problems and ethical issues because some may discriminate against the countries that do not speak the same language as them. Some of the ethical risks and consequences associated with global business are unfair treatment of the opposite sex, laws of global trade being broken, and conflicts between nations.…
Globalisation is basically the operation, integration, and competitiveness of organisations in the economy on a worldwide scale. Rather than being nationally confined, the activities of these organisations are more self-governing. Globalisation affects the nature of business ethics and social obligations. As large organisations embrace a more global viewpoint, it shall have an important impact on the wider setting of organizational behavior and management (Mullins and Christy, 2013: 22).…
cars that run off of eclectic and want to know how to make our cars.…