The paper “ The Ethical Issues in Globalisation and International Business” is a provoking example of a business assignment. especially in the global economy. The theoretical models of globalization and ethics towards globalization will be demonstrated as well as the critical analysis if multi-national companies seek to improve the institutional arrangement will be given. Moreover, the research will try to find out if global economies have increased people’ s well-being and provide wealth and happiness to the community. Finally, recommendations will be proposed for Multinational companies in how to be globally responsible. 2. Introduction/Rationale of Research IdeaBecause of the process of international economic integration, a lot of changes have happened to the world nowadays.
According to studies, some economists believed that economic integration means, greater international trade, greater market integration in commodity prices and means, greater interdependency among countries, as well as more extensive flows of revenues and investment. There are many factors that have been incorporated from the process of globalization such as 1) the enlarged mobility of capital throughout liberalized financial markets; 2) the expansion of international trade; 3) the expansions of activity that affect environmental quality in the developing world; 4) the growth of technology; 5) the enlargement of foreign direct investment in developing economies, and 6) the extension of manufacturing into global labor markets.
Many critics and questions have been highlighted towards the effects of globalization, in recent years. These questions include the following: Does globalization engaging in the exploitation of poor countries by rich countries? Do Multinational Corporations obtain too much power in an increasingly globalized world? Does the rapidity of globalization create an economic process that leads to environmental damage disproportionately in poor countries?
Do these processes promote conditions of labor throughout the world incompatible with a reasonable standard of human development as well as well-being? And does the process of globalization deepen inequality between rich and poor countries and between the industrialized and developing countries?
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