The paper 'Importance of Corporate Social Responsibility" is a great example of business coursework. Scholars have articulated positives as well as negatives of globalization. On one side, the phenomenon appears to hold promise for more development of global norms, especially so in terms of promoting human rights. On the flip side, certain manifestations of globalization have revealed many social-conflicting effects associated with structural adjustment, cross border movements, crimes as well as ethnic conflict. Globalization has also brought with it social, economic, as well as political changes have been accompanied by quite a number of negatives which amount to a compromise on ethical practice.
Debate continues to rage among economic experts, about the extent to which globalization brings about, or aggravates inequality between nations as well as between individuals (Teichmann 2003: 54). With regard to inequality, international investments lead to changes in the use of technology and may shift production into developing countries that have lower prevailing wage levels. The lowest wages may also be falling in industries struggling to compete with new imports, while higher-paying export industry jobs are increasing in number but remain unavailable to the relatively unskilled labor force.
These changes took together mean that economies are putting a higher premium on skilled workers. This creates pressure to pay higher wages to skilled employees while diminishing the value of lower-skilled workers. The net result globally has been significant growth in inequality, both between nations and inside them (Ritzer 2011: 87). Globalization equally shares the blame of worldwide spread of unethical practices. MNCs have for instance exploited cheap labor from poor countries where the cost of labor is minimal, consequently causing resentment among the people of parent countries, accusing them of taking away their jobs.
Many scholars have argued that globalization occasioned child labor and slavery especially in countries where accountability lacks. Globalization has helped terrorists and criminals cross borders with the idea that humans, materials and food be allowed in and outside countries. Developing nations complain that their cities have been made dumping sites where all the industrial waste is accumulated hence escalating pollution levels. Courtesy of globalization, fast food chains are fast spreading in the developing countries selling more junk food which has adverse effects on people’ s health.
Essentially, globalization should result in the creation of wealth, but MNC’ s greed coupled with corrupt government has interfered with equal distribution of resources. Globalization is the major cause of environmental degradation as the exploitation of raw materials needed for industries is taking damaging our natural reserves. They have severely polluted the air which is so crucial for survival (Wells, Shuey and Kiely 2001: 54). However, globalization cannot be wished away. We are at a stage in evolution where discarding the concept of globalization is a pipe dream, in essence, therefore, we should struggle with finding solutions to threats posed by globalization, in order to achieve a better future. Importance Of Corporate Social Responsibility? Corporate Social Responsibility is the way a company manages its various business entities in order to have an impact on society.
Companies on their own volition contribute large sums of money to make the society a better place with a clean environment. CSR is a process in which all companies pull together and contribute to the wellbeing of society. A number of organizations take part in campaigns to bring awareness among corporate, civic bodies as well as government bodies about the benefits of CSR.
Various national and multinational businesses are booming in quite a number of developing countries. However, these countries are still faced with social challenges like poverty, corruption, high population among many more. It is therefore important that all corporations strive together and institutionalize corporate social responsibility guidelines to make society more appealing. An organization will paint a better image of itself in society if it cares for its workforce and engages them in social undertakings.
These corporate responsibilities range from providing donations to implementing bigger projects for social good. A good number of businesses across the world have shown that they are committed to corporate social responsibility (Hamilton and Wood, 2009: 98)
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Brothers, L. S. (2007). Organization-level human resource policies, culture, and managerial practices: what can consistency between Barney's inimitable characteristics tell us about employee attitudes and behaviors? Thesis (Ph.D.)-- University of Wisconsin--Madison, 2007
Grobler, P. A. (2006). Human resource management in South Africa. London, Thomson Learning.
Hamilton, S. M., & Wood, W. (2009). Globalization. Edina, Minn, ABDO Pub. Co.
Harden, E., Kruse, D., & Blasi, J. R. (2008). Who has a better idea?: innovation, shared capitalism, and HR policies. Cambridge, Mass, National Bureau of Economic Research.
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Price, C. H., & Novak, A. (2007). MGMA HR policies & procedures: manual for medical practices. Englewood, CO, Medical Group Management Association.
Ritzer, G. (2011). Globalization: the essentials. Oxford, Wiley-Blackwell
Teichmann, I. (2003). Globalization. North Mankato, Minn, Smart Apple Media.
Weinstein, M. M. (2005). Globalization: what's new? New York, Columbia Univ. Press.
Wells, G. J., Shuey, R., & Kiely, R. (2001). Globalization. Huntington, N.Y., Novinka Books.