 |  Business and Society: Corporate Strategy, Public Policy, Ethics, 10/e James Post,
Boston University
Anne T Lawrence,
San Jose State University
James Weber,
Duquesne University
Global Social Issues for a New Century
Chapter Summary- The globalization of business is driven by many factors. The demand for many goods and services is global, and modern transportation and communication systems enable companies to meet consumer demand around the world. The decline of trade barriers, opening of markets in economies that were once closed to trade, and dynamic growth in developing nations all contribute to worldwide economic activity.
- When companies operate plants, or have suppliers in other countries, they must understand the conditions in which those operations and business partners function. The company must oversee the standards that are applied to all of their stakeholders. Labor conditions are a particularly important source of global social issues today.
- When a company puts a product or service into the stream of commerce, it has a responsibility to any person who purchases or uses it. When markets are global, companies have more difficulty knowing who is using the product, and how.
- Companies sometimes discover that they are doing business in two or more countries that are in conflict over economic or political issues. Each country may exert pressure on companies to stop doing business with their enemy.
- Global citizenship begins with perspective, respect, and commitment to work within the framework of a nation's values and ethics. Global companies develop an ethnocentric perspective that recognizes the uniqueness of each nation's social, political, and cultural characteristics. Corporate citizens work to support, not change, each host nation's institutions and culture. Through a partnership strategy, global companies work with local organizations to identify and support causes that link the company's business strategy to its community involvement.
|
|
2002 McGraw-Hill Higher Education