Discuss how you think we should approach globalization - Essay Example

Additionally, this essay presents the role of that the government and international institutions should play in a globalized world. Finally this essay presents a conclusion of the findings from the discussion supported by critical readings of available sources and material from the textbook and lecture. International businesses have significant responsibilities in a global economy, such as, provision of fair business systems across the borders. In the present day, as companies struggle to reach the international market, they are faced with a number of challenges that rise above their ordinary goals.

It is clear that international companies have a significant role to play in the social and environmental spheres, labour settings and human rights (Palmer 4). Primarily, these international companies set principles that help them conduct businesses across borders as responsible businesses of the society. Most of all, international companies ensure that they respect the legal obligations set by the countries they carry out their business activities (Palmer 4). According to Varia (2007), the responsibility of international businesses, not only lies within the original countries, but even across borders.

It is clear that many international businesses have put emphasis on the utilization of available resources and workforce while leaving out the need to avert risks involved by going across the borders. In addition, a number of international companies abandon their local resources in search of international resources (Varia 5). It is, therefore, important for these international companies to focus on developing local capacities or business ties with local firms and industries. According to Palmer (2002), it is the role of international businesses to participate in societal building activities and initiatives when called upon.

Many people are forced to work under unfair work circumstances in foreign