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Factors Leading to Globalisation
The fall of communism (open new economies).
Faster communication and productivity (technology, internet).
Entrepreneurs who are more mobile and skilled.
Cheaper, faster and more available modes of transport.
Flow of money through the World Bank and the International Monetary Fund.
Growth and spread of transnational firms.
Shift to service economies and educating workers in new technologies (innovation, productivity).
More open trade agreements among nations.
Raising the general standard of living around the world by lifting people out of poverty.
Developing new industries within developing countries.
Making goods and services available to all by opening up markets around the world.
Child labour, sweatshops
Sexual and racial discrimination
Dealing respectfully with people from other cultures
Intellectual property protection
Based upon a capitalist ideology
Benefits western countries and MNCs at the expense of developing nations.
Institutions governing international trade are not subjected to the democratic process.
Most of the world's resources are consumed by developed nations.
Some resource-rich countries have some of the poorest inhabitants.
Culture and Business
‘Global business brings together people from countries that have different cultures, values, laws, and ethical standards. Thus, the international businessperson must not only understand the values, culture and ethical standards of his or her own country but also be sensitive to those other countries.’
The ethical culture of an organisation (society)
Culture is an appreciation of the arts.
Culture as the shared norms of a particular nation or people.
- Religious Practices
- Social Values
- Family Obligations
- Non-verbal Behaviour