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Risks and consequences of globalization
Impact of globalization
Risks and consequences of globalization
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Over the past few decades there have been discourses both in favor and against Globalization’s capacity to guarantee a sustainable future. Authors attest societies and businesses’ inability to account for ecological and environmental limits when dealing with economic growth, examples of this are some of the traditional business metrics used by most global companies, and nations’ measure of wealth (GDP); both sides heavily resting on economic factors, fail to account for societal and environmental concerns (Byrnea & Gloverb, 2002). Other researchers point at the intensive use of resources, especially by global corporations; such as the increasing and careless consumption of fossil fuels, water, precious metals, etc. leading to a rise in GHG (Starke, 2002) (United Nations Development Program (UNDP), 2000). Most fervent opponents go as far as to call ‘sustainable development’ an oxymoron (Ayres, 1995).
On the other side, many analysts and economists suggest that Globalization has proven to improve society’s overall wealth (Bryan & Farrell, 1996) and that it will continue to do so in the future. Others also affirm that Globalization will improve people’s well being, encourage cultural exchange and promote democratization (Wildavsky, 1995) (Friedman, 2000) (Byrnea & Gloverb, 2002).
Ayres (2008) advances the concept of ‘sustainability economics’, which deals with the issue of maintaining economic growth while paying special attention to environmental concerns of energy utilization and resource exhaustion, especially carbon fuel consumption and its relation to climate change.
Because of the afore mentioned, apparent social and economic benefits of Globalization there are forces which simultaneously ask for both the protection of...
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...• Shields, M., & Young, S. (1992). Effective long-term cost reduction: a strategic perspective. Journal of Cost Management , 6 (2), 16-30.
• Starke, L. (2002). State of the world 2002: Special World Summit edition. New York: W. W. Norton.
• Toscano, J. (2003). Globalization and sustainable development. In B. H, & R. W, Achieving Sustainable Development: The Challenge of Governance Across Social Scales. Westport, Connecticut: Praeger.
• United Nations Development Program (UNDP). (2000). Human development report 2000. New York and Oxford: Oxford University Press.
• Wildavsky, A. (1995). But is it true? A citizen’s guide to environmental health and safety issues. Cambridge, MA: Harvard University Press.
• Zachariassen, F., & Arlbjørn, J. (2011). Exploring a differentiated approach to total cost of ownership. Industrial Management & Data Systems , 111 (3), 448-469.
Globalization helps many people achieve greatness. But for the majority it brings hardships and struggle. People will be plagued by the effects of globalization and will have a tough time over coming it. We are far from reaching a point where we can say we have sustainable prosperity throughout our world. But before we focus in on sustaining prosperity, we must first reach prosperity and bring it to all corners or the earth.
Kennedy, P. & Messner, D. & Nuscheler, F. (2002), `Global Trends & Global Governance`, London: Pluto Press
[4] Colin Drury, Management and Costing Accounting, (7th edition), Chapter 3, Cost Assignment, p. 54-59
Page Break Achieving sustainable prosperity is a difficult task to face, though the way modern society is going about it is all wrong. Globalization is not helping to obtain the goal of equality. No countries, developed or developing, nor the economic wellbeing of the global community is benefiting from this phenomenon. Globalization does not contribute to sustainable prosperity for all.
Proponents have a strong belief in free markets and limited governments intervention. According to Preble (2010), globalization has led to the creation of jobs, higher living standards and a higher variety of goods available to consumers. International trade is one of the driving forces behind globalization. Countries specialize in specific goods wherein it has a comparative advantage. This results in a higher efficiency and productivity and ultimately leading to an improvement of the living standards. As a consequence, export increases. Hereto, more jobs are created, a higher variety of goods are available and international competition has increased. This results in lower prices, keeping the inflation in check (Preble, 2010). Furthermore, Preble (2010) states that the increase of trade in goods and services, foreign direct investment and cross-border investment have been important for the success of globalization. Other important benefits, mentioned by the proponents of globalization, are the promotion of information exchange and high understanding of a variety of cultures. Globalization has led to a world where “democracy has triumph over autocracy” (BBC News, 2000, as stated in Preble, 2010, p. 334).
The concept of sustainable development, a relatively new concept has now taken action into the structure of many present day organizations. Identified as “green growth”, the formation of the Dow Jones Sustainability Index provides a platform for managers to understand what it takes to be a sustainable organization. On the subject of sustainable development, the World Commission on Environment and Development (WCED) sponsored by the United Nations published a report defining as,“Development that meets the needs of the current generations without compromising the ability of future generations to meet their needs and aspirations” (WCED, 1987). Sustainable development is composed of the following two notions. First is the idea of sustainability (to maintain), and secondly, development (to make better) (Bell, 2003). Improvement of our own lives today does not mean at the cost of damaging the quality of
Hansen, D., Mowen, M., & Guan, L., Cost Management: Accounting & Control 6th ed., Mason, Ohio: South-Western
The concept of sustainable development is at the core of CSR. In 1987, the United Nations World Commission on E...
Entering the 21st. Century – World Development Report 1999/2000. World Bank 2000. Oxford University Press. New York, NY 2000.
United Nations Development Programme (UNDP), Human Development Report (2000) Human Rights and Human Development (New York) p.19 [online] Available from: [Accessed 2 March 2011]
Just imagine waking up in squalor, a once prominent society, now a desolate wasteland. All because foreign interest has raped your land of its natural resources and you seen not a cent in profit. Although, globalization is unifying the worlds developed nations and is bringing commerce to nations that have struggle in past years. True, globalization has many positive effects but do the pros outweigh the cons. In this essay I will discuss Globalization ruining the integrity of many countries and also is forcing many undeveloped nations into a bind, and is causing economic distress on some developed nations. Also, due to economic globalization the nations of the world are diluting their culture, sovereignty, natural resources, safety and political system. My goal is not to change your way of thought, but only to enlighten you of the negatives of global economic expansion.
Many environmentalists, trade analysts, and anti-globalization activists believe that competition in global trade has led to a disregard for environmental standards. Environmental protections in one country are often barriers to world trade, but with the help of globalization, businesses can do more wicked things to others with little to no environmental problems. Globalization has therefore led to deforestation, and with the increase in human activity, resulted in problems with our ozone layer. China, for example, has fallen prey to this kind of tragedy. Its remarkable economic progress, combined with its large population, has led to its environmental problems. High population density, combined with globalization that is bringing more people
Sustainable Development’s definition states that development should meet the need of the present without compromising the futures generations ability to meet their own needs, this idea of development was adopted within the 1987’s Brundtland Commission, when people became aware of the limitation of growth in the 1970’s, this report fixated on providing humans with their needs and interest while reallocating resources to other poorer countries to help them in growing economically, therefore sustainable development would focus on environmental safety, economical viability and social fairness (Du Pisani, 2006). It is understandable for people to want to have uniformed sustainable development policies and plans worldwide, but this idea is realistically
Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in a global community. Conversely, the negative aspects rarely receive the same level of attention. Globalization appears to be advantageous for the privileged few, but the benefits are unevenly distributed. For example, the three richest people in the world possess assets that exceed the Gross National Product of all of the least developed countries and their 600 million citizens combined (Shawki and D’Amato 2000). Although globalization can provide positive results to some, it can also be a high price to pay for others. Furthermore, for all of those who profit or advance from the actions related to globalization, there are countless others who endure severe adverse effects.
We know that our planet is under unprecedented stress at the moment and that the patterns of production and consumption that we have been using are no longer sustainable. The green economy presents an alternative vision for growth and development, in which economic growth and improvements in people’s lives are generated in ways consistent with sustainable development. In fact it is seen to be at the heart of renewed efforts to contribute to, or progress the broader agenda of, sustainable development and to contribute to achieving internationally agreed development goals, including the Millennium Development Goals. It means growing our economies in ways that benefit, not sacrifice, social justice and equity as well as the environment. The idea is to serve the needs of the present without threatening the quality of life of future