Globalization and Its Ethical Implications.

Globalization and Its Ethical Implications

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Globalization describes the growth of the world economies and cultures that is driven by not only the technology but also trading beyond domestic borders. Technology has played a crucial role in globalization since it has resulted in forming a global village where information is shared freely from any part of the world. Globalization has resulted in the growth of economies and the establishment of new markets of operations. Subsequently, such markets have created more employment opportunities. Globalization has also triggered industrialization

Globalization and Its Ethical Implications

The presence of globalization has led to the development of some ethical issues. Two of the most common ethical issues include environmental standards and corruption. Technology has triggered industrialization, which has consequently led to the pollution of the environment. Poor regulations have been established that focus more on allowing companies to operate at the expense of polluting the environment (Joseph, 2016). This creates an ethical dilemma since these companies are contributing to the creation of employment opportunities while at the same time,causing damage to the environment. Corruption is a common ethical issue that many companies face, particularly due to expanding operations to other countries. Foreign officials are bribed to acquire contracts, and government officials are bribed to allow the operation of companies in their countries. Due process has been abandoned, and morality has been ignored because of the expansion of organizations beyond domestic borders.Bojnec(2017) notes that globalization contributes to corruption through the need to earn contracts and operate in foreign countries without following the due process Globalization and Its Ethical Implications

The environmental standards, ethical dilemma can be solved by establishing stringent policies that protect the environment and offer people employment opportunities—for example, focusing on the move from the use of fossil fuels to other non-pollutant technologies such as solar and wind energy. Corruption can be solved by developing policies that see those corrupt leaders arrested and charged for their immoral actions. This can guarantee that everyone gets their dues diligently Globalization and Its Ethical Implications

References

Bojnec, Š. (2017). Effects of globalization and corruption on the outward FDI in OECD countries.

Joseph, G. (2016). Theoretical Perspectives on Ethical Dilemmas in Globalization and International Taxation. Theoretical Perspectives on Ethical Dilemmas in Globalization and International Taxation (December 21, 2016). Journal of Accounting, Ethics and Public Policy, 17(3).