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Ethical Challenges Of The Globalization Process

Author

Listed:
  • BRANKO BALJ

    (University of Novi Sad, Serbia)

  • RADENKO MARI

    (University EDUCONS, Serbia)

Abstract

Whereas roots of globalization are far reaching, it is primarily a modern age phenomenon. Modern business operation and the world economy are characterized by domination of multinational corporations, strong presence of the government in economy and the long-term tendency towards globalization in manufacturing, trading and consumption in the world. Containing both risks and opportunities, globalization is a problem of manifold nature. For some it means regression and falling into “neocolonialism”, the others glorify it. It is logical to ask the following questions: What are the consequences of globalization for governments, nations, companies and individuals? What are the business, social and ethical issues it causes? In one word, is it possible to be ethical, to avoid and correct “bad” and keep “good” consequences of total phenomena as the globalization, and whether it is rewarding in the increasing market competition?

Suggested Citation

  • Branko Balj & Radenko Mari, 2009. "Ethical Challenges Of The Globalization Process," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 3(3), pages 7-10.
    • Handle: RePEc:pdc:jrpieb:v:3:y:2009:i:3:p:7-10
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    More about this item

    Keywords

    Globalization; ethics; strategy of business ethic; corporative responsibility; behavior;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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