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ly discussed the extent of corporate obligations of MNCs through a presentation of traditional theories popularized by Adam Smith (Theory of Moral Sentiments), Bentham and Mill (concept of utilitarianism), Smith’s ethical nature of political economy, and Milton Friedman’s minimalist approach to corporate obligations. According the Friedman, the only social responsibility of a business is to enhance the wealth of the firms stockholders (1962). However, Cobb concluded that “while there is no firm agreement on the extent of corporate responsibility, most discussions move beyond this minimalist approach” (2000, 2).
The model which examines corporate responsibility is the stakeholder model which was defined as “firm managers must recognize the legitimate rights of the firms claimants in making decisions. The claimants include not only stockholders and employees but also others who can influence or are influenced by the decisions of a firm (Pearce & Robinson, 1982). Claimants commonly include customers, suppliers, governments, financial institutions, unions, competitors, local communities, and the general public.” (Cobb, 2000, 3) As stakeholders increase in number and become more diverse due to globalization, the more those cultural and ethical norms should be incorporated in international transactions.
A discussion on the moral philosophy delved into identifying its three parts: value, the good and duty; and different societies view moral philosophy differently. Likewise, Cobb emphasized that “cultures are constantly evolving and the ethical and cultural norms of a society will change over time” (2000, 4).
Trade, on the other hand, has an effect in adapting the cultural and ethical norms of MNCs. Cobb clearly explained that “when there is a long history of peaceful coexistence between countries, social interaction will develop, and some cultural norms of the countries will be accepted by the other country. Along with the acceptance of the cultural
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The company gradually after gaining much local publicity in Sweden endeavored to take over the world. It started spreading its branches among several European countries which started running successfully owing to the same cultural environment.
Four main changes are identified as namely; Change in vision, goal and mission of organization, Loyalty and motivational changes in employees, Business routines and rituals. The study concludes that globalization has both negative and positive effect to the cultural environment of business in China.
The company is number one in the word in supply of sparkling beverages, ready to drink coffees, and juice drinks. The company has established its branches in over 200 countries across the globe, and it is estimated that the company serves at least 1.7 billion servings per day.
There are polar views on globalization and its impact on social and cultural development of the world.
In general, globalization is a contested term refers to accelerating processes of transformations and adoption of economic, cultural and political systems.
According to the discussion organizations are required to deliver in terms of cost, quality, reliability and flexibility while keeping employees happy, machines operational and delivering products and services when and where the customer wants them at low prices and in a variable range of quantities.
Secondly, the article will describe how the firm standardized key processes across their global operations.” (2004, 1) The article proffers an exploratory case identifying processes that require standardization on a globalized market.
The authors started their
Should you support or disagree with globalization?
“Globalization: a culture killer” is an article written by Ramzy Baroud. Baroud is a Palestinian-American journalist, author, and editor of the Palestine Chronicle. The article was published in the Japan Times on
No: Qatar lost its traditions and architectural identity, especially when the government appointed the international consultant companies to plan and develop the city following oil discovery in the country.
Even as Qatar has been affected by globalization, Doha has not been
Most countries have opened their markets to new international competition regardless of the development status of these countries. As such, both developed and developing countries can compete on the same level without any barriers. Countries in the EU can compete amongst themselves as well as with other countries worldwide.
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