The Complex Role of Globalization: An Introduction to Business Study

This essay provides an overview of the complex roles of globalization in the context of business, emphasizing its positive connotations such as improved international trade, higher living standards, and increased wealth, while also acknowledging criticisms related to social attachment and welfare. It examines how globalization encourages westernization, influences economic policies, and creates interdependence among countries. Furthermore, the essay highlights globalization's role in fostering direct foreign investment, technological innovation, and reducing trade barriers, leading to increased employment opportunities and expanded marketplaces. It also explores how globalization improves education systems by enabling cross-border mobility and integrating cultures, as well as enhancing ethics and social responsibility in business by promoting accountability, improving business image, and reducing regulatory hostility. The essay concludes by discussing how globalization improves the design of goods for consumption, attracts employees and investors, and enhances transparency in business operations, ultimately leading to more informed decision-making and responsible business practices.

Running Head: INTRODUCTION TO BUSINESS 1
Introduction to Business
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Complex role of globalization
Introduction
Globalization is a term use in describing as well as explaining several global phenomena.
The issue of globalization has been given positive connotations by different individuals who
advocate for greater economic integration across different borders of countries globally.
Globalization is censured by people who see it as a risk to social attachment and as the
advancement of free private enterprise that undermines welfare of various countries (Aman,
2018). The forces that most companies around global society have to deal with from social
networking to cases of social unrest have developed rapidly over the past decade. Therefore,
globalization stays to be the process of increased interconnectedness among nations. The
prosperous economic progress that is typically gained as a result of the improved
interconnectedness among states usually leads in the better standard of living along with
improved quality of life. There is a consensus among global economists that globalization offers
the net complex benefits to society and therefore should be embraced on the whole by authorities
and individuals (Dezalay, 2018). Some of the complex roles of globalization include but not
limited to improvement of international trade, lowering cost of living, higher living standard,
making goods and services that are of higher quality to be available, and increasing wealth
around the global society.
Some of the roles of globalization
Globalization encourage advancement of westernization
One common role of globalization is that it favours advancements of westernization,
meaning that other countries are disadvantaged when dealing with the Europe and Americans.

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For instance, in agricultural sector, it favour of westernization by globalization is evident where
the 2nd and 3rd nations face stiff competition from Western Corporation (Zhang, 2014).
Globalization makes nations to be forced to examine their economic policies to be in line with
various challenges as well as opportunities to those multinational corporations and other entities
of global commerce present. The issue of globalization makes nations for confronting the unique
concern of foreign direct investment that forces many nations to determine the degree in which
international influence their operations when they are allowed in their economies. Moreover,
globalization creates the sense of interdependence among countries that could lead to the
imbalance of power among countries of various economic strengths. Globalization leads to be
the major influence of nearly every aspect of modern lifestyle of people and their operations.
From various studies by several economists, it has been reported that globalization offers the net
benefit to individual economies around the universe. It is capable of making markets to be more
efficient leading to increasing business competition (Mosneaga, 2015). The efficiency created by
globalization help in limiting military conflicts and spreading of wealth around the global society
in an equal approach.
Globalization enhances development of nations
Globalization helps in development of direct foreign investment. Through the use of
network advancement in the society, direct foreign investment tends to improve at much greater
rate than the progress in global trade. The investment through globalisation helps in boosting
technology transfer, restructuring of industry, and growth of international corporations.
Furthermore, globalization leads to technological innovation. It helps in increasing competition
in the marketplaces (Lagos & Rosales, 2013). Globalization has the role of stimulating advanced
technology development especially with the advancement in investment in foreign operations.

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Technological innovation that arises due to globalization always improves economic output by
making processes of operations of different companies to be more efficient (da Silva, Santos
Salazar, & de Moraes 017). Globalization also enables large corporations to realize economies of
scale that are useful in reducing costs and prices of commodities. Such reductions in costs in turn
help in supporting further growth in economy, although in most cases such operations can hurt
many small businesses that attempt to compete with other corporations within their place of
establishment.
Globalization reduces trade barriers
Globalization has the major role of supporting free flow of different goods together with
services between different countries due to the reduction in barriers to trading activities. It easies
such modes of conducting businesses by ensuring that it creates a business environment for flow
of investment and capital among countries (Nayar, 2011). Globalization also reduces such
barriers in trade by ensuring that there is a free flow of technology from one nation to another. It
also frees the movement of different labour among nations leading to sharing of ideas on how to
overcome barriers that might arise during trade. Furthermore, globalization reduces trade barriers
by ensuring that it creates room for increment in employment opportunities between nations. As
globalization rises, more and more corporations are setting up businesses in different nations.
Such ideas, in turn, increase the opportunities of employment that individuals at one place have
at any moment. Globalization has enabled people to get better employment opportunities without
having to move to other nations in search of better tasks (Madhok & Raj, 2011). Presently, many
multinational organizations that include Microsoft, Google, Facebook, and Toyota among other
corporations have their head offices in India and many Indians work for these corporations in the
region. However, without globalization, people residing in India would not have had such great

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opportunity to work for such corporations in India. Economic globalization also has the role of
providing opportunities for developing nations in that it expands the size of their marketplaces
for export and attract foreign capital that helps in development.
Globalization improve education system
Increase in globalization has enabled people to move easily across borders to different
regions of global community with the objective of acquiring better education. Globalization has
the role of integrating cultures of individuals globally (Zhang, 2014). Globalization has the role
of making people from underdeveloped and developing nations to move freely to developed
nations to achieve better education. Therefore, globalization has the role of enabling people to
travel to pursue higher education in nations such as US and UK. Globalization has the purpose of
opening cultures of people towards other cultures of students to some extent. The other role of
globalization is to increase quality of services that students seek in different learning centres. As
the people move from a single nation to another, barriers that might exist between various
cultural beliefs tends to decrease. Globalization has resulted in intolerance as well as openness
towards other diverse cultures (Aman Jr, 2018). The advancement has also facilitated
communication amid varied cultures and hence nations. It has resulted in the reduction in
conflicts as people are presently living in one of the most peaceful eras in the history of
humankind.
Globalization improve ethics as well as social responsibility in the business
environment
Social responsibility refers to the ethical hypothesis where individuals are accountable for
performing their civil task. Here the actions of an individual must benefit the entire business

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society. Ethics in business operations take into consideration responsibilities not just within the
workplace, but also within the cultural, environmental, and social structures of business
communities (Brewer, 2018). Ethics help in improving the accountability issues that comprise of
scientific inquiry, protections of clients, and overall structure of any corporation. Social
responsibility of business, on the other hand, has been divided into four different types that must
be considered simultaneously to improve business operations (Mussell, 2017). These classes of
social responsibility consist of ethical, economic, legal, and philanthropic responsibilities to
clients and society.
Globalization improves image of business operations
Ethics as well as social responsibility improve the image of trade by ensuring that every
business has appropriate value and goodwill when their policies of operations are well set. Ethics
and social responsibility improve the prestige of the company offering it the synonymous title
with perfection, goodness, and reliability. Social responsibility helps in encouraging clients of an
organization to make their purchases in a specified firm (Ehsan, Abbas, & Nawaz, 2018). Ethics
encourage other businesses to associate or perform business with the corporation due to their best
performance. Therefore, good operational ethics aid in improving the attraction, engagement,
and retention of employees in the business. Ethical and social responsibility ensures that
businesses remain to operate within regulation along with guidelines of government, local, and
state (Rehmani & Khokhar, 2018). As such, ethical responsibility may ensure that businesses
operate as per codes of conduct, civil privileges, and societal standards as set by the business
body.
Globalization reduce hostility of regulatory authorities

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Active ethical and social responsibility tends to reduce instances of hostility of regulatory
authorities just like the way it is for corporations without appropriate program. Through ethics
and social responsibility, businesses remain to be leniency as people in authority always feel that
the organizations are complying with every set regulation in support of welfare of workers and
corporation (Rhodes, 2018). These responsibilities help business managers to focus on just fast
track in their operations leading to reduction of paperwork needed in organizing the project that
can be of massive benefit to the business. Programs of ethics and social responsibility offer
positive publicity of business (Kumar, 2017). The responsibility als0o creates responsible
business setting among members of business society leading to attraction of more inflow of
capital in business operations from different sources.
Improve design of goods for consumption
Advancement in concern in relation to business environment has encouraged several
nations to make changes in the manner that they design as well as produce products for
consumption. Ethnic and social responsibilities help in making the buyers and business operators
to be aware of the hazards of different products not just to man, but also to the business
environment (Eusbouts, 2017). Hence, involvement of ethics in business setting help in ensuring
that the produced goods to the market are having quality design and quality ready for
consumption. Social responsibility ensures that business and corporations do not only take care
of their stockholders but that the businesses are capable of benefiting society in some manner.
Ethics and social responsibilities concern the moral judgment of an individual about wrong and
right in business operations. Decisions taken within the business may be reached by groups of
people or an individual, but whoever makes such business decisions will be affected by
company’s culture (Smith, 2017). The decision to behave ethically and socially responsible

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remains to be an ethical one, where workers must make a decision on what they believe in their
sense that is right course of action.
Globalization help in attracting employees and investors
Ethics and social responsibility attract more workers who want to toil for business while
reducing charges of recruitment as well as enabling the corporation to attain the most gifted
workers. The ethics in business is essential in making workers to have the desire to stay with the
business. Such instances help in reducing cases of labour turnover and therefore increasing
business productivity (Kumar, 2017). Besides, ethics and social responsibilities attract business
investors while keeping the business’s share price high, thereby leading to the protection of
business for takeover. The knowledge that the business that they supervise has uttered their
beliefs and ensured the assurance to operate in decent together with competent manner
empowers business economic experts to have real thoughts of quietness that their money is being
used in an approach that coordinates with their moral repute. When operating any business with
strong business ethics, workers tend to be agreeable in the understanding that they are not by
their activity permitting rehearses that are exploitative to proceed (Rhode, 2018). Presence of
ethics and social responsibility help in making customers to be at ease when buying services
products from any business that they understand and know sources to their materials and labour
in a responsible manner.
Globalization improve transparency of conducting business
Globalization improve the way businesses make different decisions and how they apply their
values to different decisions across the board. It enables management of different organizations
to think of every outcome on decisions that they made in operations. Presence of social

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responsibility in business improves the process of decision making about business internal and
outside operation boundaries (Ehsan et al., 2018). Social responsibility makes the organization to
work while understanding that the profit that they earn is solely from its stockholders. Business
ethics covers the sectors of moral principles and decision making, governing issues, and business
codes of conduct. Social responsibility provides vital actions that businesses take or refrain from
taking based on the influence of those actions on the external setting and community. The
presences of ethics and social responsibility in business have led to development of business
system tailored to their operation settings (Rehmani & Khokhar, 2018). Therefore, business has
to maintain ethics and societal responsibility as a way of ensuring that they possess the integrity
of society and protecting operational environment leading to dominance in market and earning of
huge prices on services and goods.

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