ADM 1301 Lecture : Chapter15.docx

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Globalization: a process of decreasing constraints on the interactions among the nations and peoples of the world. Economic globalization: the integration of fragmented markets into a global economy. Political globalization: the process by which world power relationships change and there is a loss of sovereignty by the state. Social or cultural globalization: the emergence of a world wide cultural system. Globalization increases business"s economic, social and environmental responsibilities. Businesses are linked to their stakeholders and their actions as well. Globalists: individuals and organizations that support globalization. Anti-globalists: individuals and organizations that oppose or are critical of globalization. Private corporations provide better developed countries g/s. Transfer of resources (capital, technology, intellectual capital etc. ) Poverty and inequality increases in developing countries. Supranational institution: international organization that transcends national boundaries where the member states share in decision making on particular issues pertaining to the members i. e. wto. Policies and standards of multinational corporations include many factors, focuses on economic, social and environmental measures.

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