Sample Essay Globalization of the world economy has come along with a number of challenges.…
In globalization of business operations, the management should understand that this approach involves relocation of capital, labor, services and goods across the national boundaries and is hindered by extreme national and local policies and legal framework. It’s this nature of globalization which has attracted greatest criticism, attention and analysis.
It therefore leads to a conclusion that the hidden anxiety in the global business are connoted by capitalism; masses being exploited, ignorance of the human and environmental rights, colonialism and a lifestyle characterized by consumerism (Noble, 1984). This has led to the global business being viewed as unrestrained capitalism in full gear and is a major cause of disapproval of expansion of the global trade.
In many business firms; domestic or global, the employees and the employers are not benevolent humanists that are admired by any activist this is because their functioning atmosphere, the human right groups, economists, environmentalists, business regulating bodies and the consumer advocates are also functioning, not to satisfy their own interest, they serve as checks and balance to control the raw capitalism. It’s therefore of paramount importance as the management decides to go global, the roles of powerful bodies that play noteworthy roles in the global market must be analyzed.
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