BUS 3010F: Global Influences Reflection

This assignment is a 3000-word reflection paper with a presentation for BUS 3010F: Global Influences. It requires students to answer seven questions exploring various aspects of globalization, including the hyperglobalist perspective, ASEAN regional grouping, Brexit, corporate support for green initiatives, the role of culture in globalization, regulations on illicit finance, and a comparative analysis of international policies. Each question has a specified word count and requires referencing research materials. The assignment assesses students' understanding of global issues and their ability to critically analyze and present their findings.

Module: Global Influences (BUS 3010F)
Individual Reflection Paper: 3,000 words with presentation
Opening:
Why is globalization good? – Your opinion
For example:
Globalization is good because it provides the world with more efficient markets,
increases competition leading to better goods, generates wealth in all parts of the
world and builds and stabilizes security. Globalization is steadily growing as
technology allows individuals within each country to communicate with people
previously out of reach.
The world is becoming increasingly interconnected as governments work together to
solve global problems. The globalization process has made markets more efficient
as businesses and organizations have had to relearn how to create a good or offer a
service in the most efficient manner in order to make a profit.
The increased competition is another benefit of globalization. With new producers
appearing frequently, there are more people and businesses competing for a share
of the global economy. This leads to competitive markets that offer higher quality of
goods as well as more affordable prices.
Another benefit of globalization is the change it offers to people in poorer countries. It
gives these people a chance, though perhaps not nearly as great as the chance
people have in wealthier nations, to sell goods and to make a profit leading to
greater wealth distribution. Globalization also protects the world as countries
depending on one another for their economy stability are less likely to attack one
another.

Answer all 7 questions:
Q1: Do you agree with the “Hyper Globalist” claim that the world is borderless. Give
three (3) reasons to support your answer if yes or no. (15 marks) - 450 words
For Example:
Yes agreed, to the hyper globalist’s view is of a more interconnected world today,
due to improvements in technology. What happens to one part of the world could be
made known in quick time.
Cross-over of culture is more evident because of globalization from affluent /
sophisticated markets to developing once.........pl include referencing of research
materials.(450 words).

Q2: What are some of the features of ASEAN regional grouping and their
implications to members? (15 marks) – 450 words
For example:
Co-operations in: Political –Security, Economic & Soci0-Cultural Community
attended by the head of state...With particular emphasis on:XXXX during the 2016
ASEAN Summit held in Laos..please include referencing from research materials..
(450 words). Cover during Session #5
ASEAN SUMMIT HELD SEPT 2016 IN LAOS (29th)
(Ref: http://asean.org/chairmans-statement-of-the-28th-and-29th-asean-
summits/)
-Feature 1: We were pleased to note that in 2015, ASEAN received 108.9 million
international visitors, an increase of 7.3% from 2014. We welcomed the ASEAN
Tourism Strategic Plan (ATSP) 2016-2025 with a vision for ASEAN as a quality
tourism destination by 2025, offering a unique, diverse ASEAN experience, and
committed to responsible, sustainable, inclusive and balanced tourism development,
so as to contribute significantly to the socio-economic well-being of ASEAN people.
-Implications to members: Increase spending by incoming tourist by: STPB as S’pore
is also an attractive country to consider when coming to Asia. All the international
standard activities / events ie: Night F1 race in Sept etc........
-Feature 2: We reaffirmed our shared commitment to maintaining and promoting
peace, security and stability in the region, as well as to the peaceful resolution of
disputes, including full respect for legal and diplomatic processes, without resorting
to the threat or use of force..........
-Implications to members: Increased regional measures with S’pore being the site of:
Interpol shows our / S’pore commitment to handle terror in a concerted effort. Thus
S’pore being a safer location for worldwide corporate investment and for leisure.......
-Feature 3: ASEAN Community Vision 2025 and the United Nations 2030 Agenda for
Sustainable Development.

-Implications to members: This is to show that S’pore is an affluent country and also
is doing her part in the “Green Movement” as in prevention of pollution and saving
the world from global warming. Do as your neighbours do....(all other companies in
that sector)....
-Feature 4: Counter Terrorism...Mentioned under security and stability...
-Implications to members: .....
-Feature 5: Drug trafficking...
-Implications to members: The Misuse of Drugs Act is a drug control law in
Singapore, The statute's penal provisions are draconian by most nations' standards,
providing for long terms of imprisonment, caning, and capital punishment.
-Feature 6: Money Laundering....
- Implications to members: SINGAPORE — Singapore takes the possibility of being
used as a conduit for money laundering and terrorist financing activities “very
seriously”, and the Monetary Authority of Singapore (MAS) will not hesitate to take
action against financial institutions whose anti-money-laundering controls are found
to be lacking, Minister for National Development Lawrence Wong said in Parliament
yesterday.

MAS announced in May it had ordered BSI to shut down its operations here, citing
serious breaches of anti-money-laundering rules, and had referred the names of six
BSI staff — including its former CEO and Deputy CEO — to the public prosecutor to
evaluate if they have committed any criminal offences.
Emphasising Singapore’s firm stance against illicit financing activities, Mr Wong
yesterday reiterated the recent measures taken to strengthen Singapore’s regime
against money laundering, including criminalising the laundering of serious tax
offences; enhancing MAS’ notices and guidelines in line with evolving international
standards; and stepping up inspections of financial institutions.
Projecting S’pore as a clean and vibrant financial hub .
-Feature 7: Cyber security.....
- Implications to members:
-Feature 8: ASEAN –ICT Masterplan 2020...Co-ordinating effort of ASEAN members
for info-Communication Technology.
- Implications to members: ICT cutting –edge development is a must in S’pore
infrastructure development and doing it together will attract investor companies to
the entire region for all sectors..

Q3: What is your understanding of the BREXIT? And express your views of the exit.
(20 marks) – 600 words
For example:
There were unhappiness with the Brits when they were part of the EU, other
then :Germany and Luxembourg that is doing well the other member states are not
doing well and Britain do not want to be drag down by them.., thus a people’s
referendum / vote was called with around a 4% win to leave....., it’s unclear
somewhat to the further of BREXIT ..please include referencing from research
materials..(600 words).
An approach:
-In short there are more gains socially ?....W3..after researching on social gains ..is
that they have all economic implications..Looks likes the freedom of not following
ideas & policies of the EU made Brits feel better socially and not
economically...emotions over logic..
(Ref: https://www.theguardian.com/society/2016/jun/14/brexit-nhs-health-social-care-
disabled-people-eu-referendum)..
(+)The FPH lists other advantages too. “Health and safety at work
legislation is basically European; likewise legislation ensuring
the safety of food, medicinal products and medical devices. The
social chapter mandates generous maternity and paternity leave,
guaranteed holidays, the 48-hour working time directive; equal
rights for part-time workers and protection against unfair
dismissal. All are powerful social determinants of health from
which UK citizens have benefited.
(-)The Faculty of Public Health also points out how EU
membership has brought benefits such as cleaner air and water
and pan-European joint working on threats to health that cross
national borders, such as antibiotic resistance and combating
pandemics.
-The European convention on human rights, given statutory force
in the Human Rights Act (HRA), has played an increasingly
important part in social care.

-Big lose economically.....W3
(-) Brexit could free up up to £8bn extra a year to spend on the
NHS (Health Services)..
(-)Its own analysis concludes that a post-Brexit economic slump
could force the government to cut the Department of Health’s
budget by £10.5bn – the equivalent of every hospital in England
having to shed 1,000 nurses and 155 doctors.
(-)Britain would also no longer have any influence over the
European Medicines Agency, the regulator that approves drugs
for use within the EU. Medical research could be hit too, because
Britain currently gains disproportionately from current funding
streams.
(-)An estimated 6% of jobs in the sector are filled by EU
migrants. That may not sound much, but the vast size of the
social care workforce means that this figure equates to 80,000
people in England alone. Free movement of labour across the EU
is “very helpful” to social care employers, says Martin Green,
chief executive of Care England, which represents leading care
providers.
Could they be replaced by workers from the rest of the world?
Green says: “Given that one of the planks of the Brexit campaign
is to reduce immigration, I think it highly unlikely that they
would relax controls on people entering the country to be part of
the care workforce.”
-Insert PDF copy:
The consequences of Brexit for UK
trade and living standards By The

London School of Economics &
Political Science:
-The European Union (EU) is the UK’s largest trade partner. Around a half of the UK’s trade
is with the EU. EU membership reduces trade costs between the UK and the EU.
This makes goods and services cheaper for UK consumers and allows UK businesses to
export more.
-All EU countries lose income after Brexit.
-The optimistic scenario: assumes that in a post-Brexit world, the UK’s trade relations with
the EU are similar to those currently enjoyed by Norway. As a member of the European
Economic Area (EEA), Norway has a free trade agreement with the EU, which means that
there are no tariffs on trade between Norway and the EU. Norway is also a member of the
European single market and adopts policies and regulations designed to reduce non-tariff
barriers within the single market.
But Norway is not a member of the EU’s customs union, so it faces some non-tariff barriers
that do not apply to EU members such as rules of origin requirements and anti-dumping
duties. Campos et al (2015) find that Norway’s productivity growth has been harmed by not
fully participating in the EU’s market integration programmes.
-In the pessimistic scenario: we assume that the UK is not successful in negotiating a new
trade agreement with the EU and, therefore, that trade between the UK and the EU following
Brexit is governed by World Trade Organisation (WTO) rules. This implies larger increases
in trade costs than the optimistic scenario because most favoured nation (MFN) tariffs2 are
imposed on UK-EU trade and because the WTO has made less progress on reducing
nontariff barriers than the EU.
Example: For the Foreign Financial sector with offices in the UK are moving out to
where???
Brexit: leading banks set to pull out of UK early
next year
(Ref: https://www.theguardian.com/politics/2016/oct/22/leading-banks-set-to-pull-out-
of-brexit-uk).
-Britain’s biggest banks are preparing to relocate out of the UK in the
first few months of 2017 amid growing fears over the impending Brexit
negotiations, while smaller banks are making plans to get out before
Christmas.
-“Most international banks now have project teams working out which
operations they need to move to ensure they can continue serving

customers, the date by which this must happen, and how best to do it,”
he says.
“Their hands are quivering over the relocate button. Many smaller banks
plan to start relocations before Christmas; bigger banks are expected to
start in the first quarter of next year.”
-It has been reported that Goldman Sachs is among those drawing up
plans to transfer around 2,000 of its employees to a rival European city,
should the UK lose its passporting rights.
-The industry body TheCityUk has claimed that up to 70,000 financial jobs
could be lost if Britain leaves the EU without a new, credible relationship
in place for the City of London.
Logic / Truth table: (Scale of 5 or 10 points)
Legend: 1= V.Bad.
2= Bad.
3= Average / Moderate.
4=Good.
5=Execellent.
Criterion for
Consideration:
S’pore Hong Kong Shanghai
1. Govt’s
policies to
foreign
banks.
2. Ease of
doing
business
ranking in
relations
to :The
World Bank
3. Financial
infrastructur
e:
4. Cost of
Living.
5.???
Total: 24 (First choice for
Relocation)
21 (Second choice) 20

Q4: The corporate support for Green Initiatives is driven as much by the potential to
sell new products and technologies as it is about saving planet. The key drivers for
Green Initiatives are - corporate image, competitive differentiation, cost saving and
compliance with government regulations.
What are your personal feelings about the green movement? (10 marks) – 300
words
For example:
Although, the green initiatives must be contributed by larger/ powerful countries in
order to get greater impact. But as long in principle everyone perform their part of
environmental conservation. Whether a country is big or small like :Singapore will
benefit generations to come. For example the “Saving Gaia” campaign by :Media
Corporation of Singapore (MCS)……..pl include referencing from research
materials..(300 words)
- This initiative serves to create the awareness of saving mother earth,
encouraging more people to be environmentally conscious.
Today, this initiative has grown into a month-long multiplatform and
multi-faceted campaign which has become synonymous with
environmental awareness and going green.
-In operating your own business, determining your “return on investment”
is always top of mind when making decisions. One big decision for your
company is whether to implement green initiatives, and that includes
everything from reducing energy consumption to wasting less paper.
-When considering the decision to “go green,” look at both the short and long
term results of green initiatives and, chances are, you’ll discover a number of
benefits.
Those benefits go well beyond feeling good about helping the environment.
They also directly impact your business, both in terms of reducing your
operational costs, as well as streamlining your processes by making them more
efficient.

-Those with manufacturing plants might find the most savings come from
altering their waste disposal plans, but this can be difficult to change if they
handle multiple chemicals every day, which often require strict and limited
disposal options.
On the other hand, a business like a restaurant may optimize their cost savings
by sourcing ingredients locally, which can not only help the environment, but
also maximize efficiency. After all, it’s more efficient to get ingredients from a
local market rather than placing orders and waiting for food deliveries.
Conclusion:
-Responsible government promoting the green campaign to every sector of business
creating an affluent society ....evidence of develop countries status...