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Principles of Responsible Business

   

Added on  2021-06-14

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PRINCIPLES OF RESPONSIBLE BUSINESS[Type the document subtitle][Pick the date]INSTITUTIONAL AFFILIATION(S)STUDENT NAME
Principles of Responsible Business_1
Page | 2Answer 1.Globalisation can be defined as a process in which movement of goods and services along with people is made in integrated and seamless manner throughout the globe. Globalisation is a result of making global economy open to all by increasing attendants of trade and commerce. In simpler words it can be said, when countries that were once limited to work in a specific zone and under common trading law, open up their financial systems to get global. Globalisation takes place when countries liberates their export and import protocols while inviting foreign investments into countries diverse business sectors that can also be mainstays of its economy. Through globalisation, countries becomes attractive that pulls other nation’s resources by opening their market to MNC’s[ CITATION Nay06 \l 1033 ]. Answer 2. Through globalisation, intensification of interconnection amid societies and people around theglobe has made possibility that all the actions in between can create periphery or transnational consequence. Some of the consequences can even give rise to moral dilemmas about individual relation in modern society. Many authors have stated that unfolding of neoliberal globalisation has given the power of wealth in few hands while leaving majority of others in poverty. Although globalisation has always been taken as a positive approach by big organisations in terms of prosperity and democracy but, it actually results in radical inequality. In other words it can be said that inequalities caused by globalisation results in fragmentation of space in which some people profits at the cost of others[ CITATION Pet15 \l 1033 ]. The second prominent moral dilemma emerging out of globalisation is issues in managing global environment to prevent global ecological collapse. This prospect has threatened humanity with the presence of total destruction. Potential environment consequences are been known to almost every person on earth like anthropogenic greenhouse consequence, also known as green house warming,
Principles of Responsible Business_2

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