Globalization Essay

13278 Words 54 Pages
The new economy has brought greater transparency and greater flexibility but also greater complexity and therefore new and greater risks. It has become very crucial to look at how the new economy had brought greater complexity to the business environment changing the ethical dimension and raising new ethical issues.

It goes on to outline the varied dimension of the new economy like—Globalization, technology, assets, framework, recruiting and retaining the talent.

These factors have brought so many changes and challenges to the company policies regards to their management practices, relationships in different domestic, international, multinational and global contents. So to establish an ethical infrastructure and integrate ethics in
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So at a business level, we talk of globalization when companies decide to take part in the emerging global economy and establish themselves in foreign markets. To meet the objectives first they adapt their products and services to the final user's linguistic and cultural requirement, which is not all an easy task manager have to manage the workforce in different languages, different cultures, and different tax procedures.

The basic need in the globalization era is to control the ethical conflicts to its minimum level though its not so easy to achieve. Though some ways can be suggested like—

• Sensitive and sympathetic attitudes towards local customs.

• Awareness about world pressure group.

• Know and comply with local laws related to tax, employment and finance.

• Manage diversity within and across the national boundaries.

2. Technology

Technology is a driving force helping business organization to face the challenges of today's competitive business environment. It is revolutionizing the nature and speed of communication within and between companies. All the functional areas of organization—Marketing, finance, HR, production etc. are being facilitated by it. The global development of companies is very much affected by technology. Technology has been catalyst for this development.Though there are some

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