Question

answer to these questions in an essay paragraph of 300 words.

What responsibility do businesses have to developing economies, workers, and the environment when they choose to pursue global strategies? Do you think corporations like Apple, which has a well-developed global supply chain, have done enough to manage the potential negative effects of their globalized operations?

Answer 1

Developing economy is one where people have a lower standard of living and less developed industries than other countries. Large corporations have both the responsibility and the opportunity to take advantage of the developing economies. Usually the cost of labour is cheaper in a developing country compared to the developed countries. As such, corporations can outsource the business to such countries which will increase the employment opportunities in those countries and reduce the cost of production for the companies.

As the employment increases so increases the standard of living and ability to purchase. Now the corporation has a larger market for its product both locally and in the home country. As foreign investments flow into such economies it helps the country to develop infrastructure.

In a country like India, where both skilled and unskilled labour is available in abundance, corporate can use these countries for even Research and Development and production both. By doing so the corporates are providing more employment and increasing their profit margins as well.

The corporations should not only think of maximizing profits or exploiting the resource of the country but also contribute towards the well-being of the country. Corporate Social Responsibility (CSR) is to support the countries to improve their environment, infrastructure and education. For example, Bill and Melinda Gates foundation. The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty. Azim Premji Foundation which helps under privileged children to learn English and computers.

As a result of globalization even the tourism of the country improves. Tourism also increases employment and revenue of the country. Cultural exchange is another advantage. Usually developing countries are more conservative. Due to interaction with the world people learn more about other cultures, lifestyle and language.

Apple's 11th annual Environmental Responsibility Report covers the progress they have made in meeting the environmental
objectives. The challenges are complex, but the philosophy is simple: Apply the same innovation that goes into making their products. Today, Apple remains focused on three priorities where and the stakeholders believe Apple can make the biggest difference in the following areas:
• Climate change: Reduce the impact on climate change by using
renewable energy sources and driving energy efficiency in their products, facilities, and supply chain.
• Resources: Conserve precious resources so they can thrive.
• Safer materials: Pioneer the use of safer materials in their products and processes.