Globalization and Business Ethics Essay

of trade, compensation standards, and labor hiring. Privatization benefits the rich and hurts the poor. The poverty eradication down to the most unfortunate folk has been a dream.

The countries that loosened trade policies have had largest increases in poverty these are studies shown by UN. And disadvantages of pro-globalization outweigh the disadvantages and so supporting it in this twenty-first century is logical. The International Monetary Fund enhanced the globalization aspects like capital, investment movements, transactions and trade which elevate people from poverty. This shows the benefits of globalization. Globalization the low class has been faced with lots of challenges to less fortunate citizens and nation due to materialism, self-esteem, and individualism .the rich are getting richer and poor are getting poorer (Donaldson & Preston, 1995).
Having knowledge to the topics like the stakeholder analysis has an impact on an individual and as a business in that; presenting stakeholder analysis into business decisions is the similar as introducing ethics into those choices( Wesis, 2014). The analysis may provide the first appearance of decision-making process but it’s only a segment of the process this helps an individual or a business profession in learning little or nothing about the ethical character of the institution or that individual.

In explaining why an individual or an institution has to partner with stakeholders, there is the issue of morality in which when it is placed in a highly effective legal environment is moderately long-term may well evade forms of anti-social behavior. From this, it can be believed that market and legal forces are tolerable to transmute ethical concerns and in our economic and political system direct apprehension for stakeholders (wesis, 2014). The move

toward discussions of stakeholder idea is not necessarily a move towards ethics and if stakeholders are to be treated by severe analogy we would have arrived at a more ethically satisfactory of stakeholder.

The corporate world has significantly changed as this has become increasingly important in the early 21st century, as non-shareholders entities, including employees, customers, communities and the business partner have become key to business success. Stockholders and the management have a relationship which is ethically different in kind from the relationship between other parties like, employees, customers and also the management(wesis,2014). In conclusion if it were not the corporation would stop to being a private sector institution and what is now called business ethics would develop a better radical critique of our economic system than classically believed and as we think of the appropriate relationship of management to stakeholders, essential features of business life have the necessity be undoubtedly be recognized.

References

1. Ancelovici, M. (2002). Organizing against globalization: the case of ATTAC in France. Politics & Society, 30(3), 427-463.
2. Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of management Review, 20(1), 65-91.
3. Gandz, J., & Hayes, N. (1988).Teaching business ethics.Journal of Business Ethics, 7(9), 657-
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4. Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. Berrett- Koehler Publishers.