Question

1. Should corporations practice corporate social responsibility? Answer both Yes and No

2. Describe the advantages and disadvantages of globalization.

3. Describe the various ethical theories.

4. What is the importance o lobbying and financial incentives theory in politics?

5. What are the major issues involving employer-employee privacy?

6. What ethical issues can you think of regarding GMFs and Internet invasion of privacy?

Answer 1

1. Yes, corporations should practice corporate social responsibility.

Reason - It is important to a business because it demonstrates to both consumers and the media that the company takes an interest in wider social issues that have no direct impact on profit margins. These issues may be local, national or global, but a concern for the health and wellness of others that does not involve sales can be seen as commendable, if handled well.

For this reason, evidence of a healthy social responsibility policy can impact buying decisions where customers seek to make an ethical purchase. This, in turn, can lead to greater profits for a business. However, building a highly regarded and trustworthy reputation is more valuable in this instance, and observers appreciate that social responsibility initiatives take time to establish and manage.

Furthermore, being part of a scheme that helps disadvantaged people or those otherwise in need can help boost morale for employees within the responsible company. Along with other methods of morale boosting, this can lead to greater productivity among the workforce. Knowledge that a product and service has a great influence on social causes can be a genuine delight to employees, customers and business owners alike. Over time, the business contribution to a charity, cause or community can be a significant amount of charitable funds, product donations and other ventures.

When the importance of social responsibility is recognized as part of a business's foundation, the impact of such endeavors can have life-changing consequences for recipients of aid and, equally, instill a sense of pride in the people who support and work toward its growth. A business can grow with or without social responsibility, but doing good for others allows a business to reap rewards in many ways.

2) Advantages of globalization.

1. Globalization broadens our minds. We feel that we belong to one world and we are a part of one nation, namely, humankind.
2. Closer contact with foreign people make us quite familiar with their manners, habits, and customs. The cultures become richer as they come into contact with each other.
3. Globalization help us shake off narrowness. We get the chance of comparing our country with other countries. In this way, we enrich our manners, customs, and habits.
4. Globalization help us fight illiteracy and promotes education. It gives us clear knowledge of facts and things.
5. Globalization help us shed or combat the burning social issues such as child-labor, dowry, etc.
6. Globalization has helped the global community to fight against poverty. Large non-profit and charitable organizations have launched massive campaigns to fight hunger and poverty. They have successfully done huge fund-raising in this regard.
7. The benefits of science and technology have reached every corner of the world. People around the world are connected through mobile phones and internet technology.
8. Globalization has enhanced our knowledge of the world. A merchant can gather valuable information about different commodities in different countries. Firsthand knowledge of people and things is of great importance in international business.
9. Due to globalization, a political leader can gather much useful knowledge of the people, forms of government around the world.
10. Globalization contribute in improving international relations and friendliness among different nations.
11. we can communicate with people all over the world. The human life becomes global. We have a global outlook on life.
12. Students can study anywhere in the world.

Disadvantages

1. In a way, globalization has contributed towards increasing the gap between the rich and the poor. Rich and wealthy people are able to exercise more control over the national resources through the application of science and technology.
2. The environment has suffered greatly due of globalization. On one hand, the increase in traffic between countries has polluted the tourist destinations. On the other hand, the poisonous gases released into the air by large industries have caused environmental pollution.
3. Globalized business have exploited the natural resources of the earth beyond the tolerable limit. Some places on earth, which was once rich in minerals and forests can no longer claim their richness.
4. Globalization tends to make the world a more homogeneous place. As a result, many communities failed to preserve their old tradition, custom, and culture. Being attracted by the culture of developed nations, many people in under-developed nations have shed their traditional dress, food, and rituals. This is yet another disadvantage of Globalization.
5. Local businesses, hand-loom industry, Cottage and small-scale industry suffered a lot due to globalization. The highly specialized and efficient multi-national companies take advantages of large-scale production and put products at throwaway prices. The local industries could not compete with their global counterpart.
6. The global economy is now inter-connected. The economic downfall of one major economic nation adversely affects the entire global community.
7. Globalization has caused specialization of labor. On one hand, there is an increase in demand for skilled labors. However, it has caused enough disadvantages for the unskilled labor group. There are few employment opportunity for unskilled labors in a global environment.
8. The more technologically advanced countries are able to sell their products to less-developed countries. Hence, the less developed countries become dependent upon the superior nations.
9. The adverse effect of globalization is not restricted to financial and economical imbalance. Last century has witness spread of diseases from one country to another country. Diseases spread to local places when a diseased person from a foreign country comes in contact with local inhabitants.
10. Globalization is responsible for the emergence of large number of multi-national companies. Very often, it is found that they do not provide good working condition to the workers. Further, forests have been cut for setting up large industries. The industrial discharges have widely contributed towards environmental degradation.
11. Globalization can pressure us to act in a certain way.