DISCUSSION 1 Please do not attempt to solve if you can not f

DISCUSSION #1 (Please do not attempt to solve if you can not fulfill all the requirements.)

Globalization Issues in the News

This week we will discuss issues regarding globalization in the news, by reviewing current news stories (i.e., CNN.com and similar). Do not review blogs or Wikipedia articles. Find an article dated 2014 to present that describes how globalization is either helping or harming a business. The business may be local or global.

A) Your initial contribution to this discussion must include all of the following:

1) The URL, title of the article, and a summary of the article

2) Discuss the issue at hand and why it is relevant to globalization

Who (i.e., what individuals, other businesses, countries, etc.) is impacted negatively by the article?

Who (ditto) is impacted in a positive way? Why?

What are some of the ethical challenges that face a global business that is not present in a domestic business?

Can an organization operate ethically overall while having differing standards of ethics around the world?

3) Finally, what are your feelings about globalization?

Solution

1)

The URL of the article: http://edition.cnn.com/interactive/2017/10/world/i-on-india-vanishing-vendors/

Title of the article: Vendors vanishing to extinction as India hurtles forward

Summary:

The article talks about marginal vendors who were so common in the landscape of India’s streets and lived their lives selling products or services used by Indian families. But with the advent of globalization and products, which are modern and are inspired from other western cultures, these native traders are facing hardships and finding it very difficult to survive and sustain their livelihoods. With the advent of packaged foods, modern machines and automation, many of the work that these vendors used to do can now be done through machines more efficiently and hence they have become redundant and are on the brink of extinction.

2)

The issue at hand is that of survival of the marginal vendors in the face of onslaught of newer products, machines and advent of automation in most processes. It is relevant to globalization, as through globalization, newer products and technologies have now spread across the word from developed economies to developing economies and those in the developed and developing world have to adapt to these changes or face the prospect of becoming redundant.

3)

Most businesses which required considerable manual intervention or products which had a local appeal have to bear the brunt of globalization as processes got automated and hence requirements for people reduced. Also products with larger global appeal got the better of products having a much narrower local appeal. On an overall basis, it is the smaller businesses or marginal individuals who were affected negatively as they did not have the resources to combat globalization and could not cope up with the change fast enough.

4)

The large businesses are the largest beneficiary of globalization as they could tap into the larger markets and were able to access bigger customer bases thus increasing revenue and profitability.

5)

The global business have to contend with factors such as

6)

For an organization to be truly classified as an ethical one, it has to have similar ethical standards over the entire globe. It cannot be discriminating between populations based on their origins while applying ethics. It should compulsorily have the same yardstick to judge people when it is dealing with all kind of issues related to ethics.

7)

On a personal level, the phenomenon of globalization is a good one as it has more positive outcomes than negative ones. However, all companies and communities should consider leveraging the potential provided by globalization in a more humane way to enable that livelihoods of people are not affected and ultimately everyone is able to sustain their lives.