The Moral Implications of Globalization free essay sample

Globalization, or global business, is defined by Ferrell as a practice that brings together people from countries that have different cultures, values, laws, and ethical standards. As the United States model of capitalism proved to succeed during the 1990’s and 2000’s, many businesses and countries worldwide began to uphold it as the premier business model. With this common system in place, the world began to become more and more globalized with the help of advances in areas like technology and high speed transportation. While many corporations experience a benefit from a globalized market place, we see many moral implications and inequalities that arise from globalization. A number of global trends played an integral role in the globalization of business. Rapidly expanding world market connections has diffuse technology around the globe. This diffusion of technology has allowed manufacturing expand. Along with the increase in online sales, technology has also brought a dominant â€Å"open society† as data and images are so easily transmitted around the world. We will write a custom essay sample on The Moral Implications of Globalization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The ability to send information over the World Wide Web so quickly has allowed businesses to expand and capitalize on the ever changing globalized marketplace. Technological innovation has not only affected businesses, it has brought a global lifestyle with common dietary patterns, employment preferences, education systems, healthcare structures, and social behaviors. The most astounding fact about technology is that we have only experienced the beginning of the potential technology has to offer. As the world becomes more and more globalized and connected, this new form of capitalism will drive technology forward. Consumers who seek the top of the line products and services will experience the benefit of competition among the top producers. People have enjoyed the benefits of a prosperous global economy, and become exposed to information about the economic opportunities in other places, and demand the access to a higher standard of living than they are currently experiencing. Results in responding to these needs include digitization and biotechnologization. Businesses have adapted to innovations in technology by upgrading their production efficiency by developing their own technology, or importing it from outside sources. The world has already seen the cause of the diffusion of technology in the media as television viewers are able to escape the conventional television scheduling and are able to order their own movies, shows, and news at will. Innovations like this will continue to grow at an accelerated rate as knowledge is expected to change in the next one hundred years as much as it did in the previous 3,500 years according to â€Å"Globalization and technology: how will they change society? † by K. Chareonwongsak. The article also explains how the world has become a â€Å"global village† that is connected by high-tech communication and rapid transit systems which has resulted in the tremendous diffusion of knowledge. Another component that greatly impacted globalization was innovations in high speed forms of transportation. One of man’s greatest traits is his insatiable desire to have the ability to go anywhere. Advances in high speed transportation have allowed businesses to offer their products and services in foreign markets. The invention of rail transport proved to be a turning point for international trade as it allowed the fast delivery of goods at a fraction of the time. Airplanes later Companies like Microsoft, Apple, or Samsung, whose domestic demand is not sufficient rely on transportation for growth. â€Å"The Effects of Advances in Transportation Technology on Global Business† by Tasos Vossos explains how transportation has become a major success factor for companies in the 21st Century. Because of this, businesses have relied on shipping companies that use the latest and greatest technological advancements to be sure they are operating as effectively and efficiently as possible. High speed transportation has also allowed people the ability to travel the world and access foreign markets. Airline companies have capitalized not only on the globalized business world, but on the aspirations of individuals to experience life far from home. High speed transportation promotes long distance business and personal relationships as it becomes easier and easier to travel. As competition among corporation continues, we will continue to experience changes in high speed transportation, as well as alternative energy solutions that will make it easier and less expensive to travel. Globalization has influenced the world in many ways. The emergence of worldwide markets has given companies the ability to capture a greater market share and capitalize on selling goods and services globally. Globalization has also increased the flow of information to graphically remote areas, promoting structure and growth for underdeveloped countries. Other benefits from globalization can be seen in the competition it creates between businesses. In order to continue to improve and satisfy the insatiable consumer market, businesses must make every effort to bring the cheapest and best products to the market. Although globalization has allowed us to become more connected than ever, there are many moral implications that come along with businesses becoming so big so quick. In Business Ethics: Ethical Decision Making and Cases by Ferrell, Fraedrich, and Ferrell, forced labor is looked at as a major problem brought on by globalization. Ferrell mentions that the Internation Labor Organization estimates that 12. 3 million men, women, and children are currently enslaved worldwide. This happens when workers are deceived into traps that promise work offshore. Forced labor going to wealthy Asian and Middle Eastern countries is supplied through countries like the Philippines, Indonesia, Bangladesh and Sri Lanka. Once the laborers are in their country for work, it is almost impossible to leave because of either economic or legal problems. Companies that have been in trouble with situations like this include Gap Inc. when it was alleged that children as young as ten years old were producing children’s goods for a Gap chain in India.