Reflective Journal: Globalisation and Corporate Social Responsibility
The recent decades have witnessed two significant trends which have been influencing the development of business in the whole world: the rapid advancement of technology and the subsequent development of globalisation, as well as the growing popularity of corporate social responsibility. The technological growth has caused the swift promotion of globalisation and the decreased importance of borders between countries, which has been widely regarded to make both negative and positive impact on the development of the world (Bergh, & Karlsson, 2009). Besides, the increasing number of commercial companies and organisations are turning to corporate social responsibility, which proves to be highly positive both for the communities and for business. Adjusting to the challenges of globalisation, as well as maintaining social responsibility, are among the most important tasks not only for the contemporary society in general and particularly business but also for me personally. After taking the course, I am determined to work on fighting income inequality, reducing unemployment, and improving ecology as the main tasks both of improving the effects of globalisation and of corporate social responsibility.
Globalisation
Although I was aware of globalisation and its effects even before taking this course, I did not have a full and concise picture of the influence of the globalisation process on the development of the world, which are both positive and negative. The main positive consequences of globalisation include the growth of local economies, as well as the increasing economic, political, and cultural freedom, which facilitate the growth of business across the world. At the same time, negative effects of the process of globalisation relate to the increasing income inequality and unemployment, as well as to growing extraction of natural resources and potential disruption of original cultures, which are being replaced by the globalised culture. Thus, one of the most important tasks before today’s business is to further enhance and develop positive effects of globalisation, while contain the negative impact discussed.
As a future manager of a successful company, I see my potential mission primarily in fighting with negative effects of globalisation. As mentioned above, one of the consequences of the globalisation processes has been the increasing income inequality (Ukpere, & Slabbert, 2009). As the distribution of wealth in the world has been growing more and more unequal in the recent years, I deeply believe that is the duty of every responsible business to contribute to facing income inequality. Particularly, there should be established fair wages and high social standards for workers not only in Australia or other developed countries but also across the world, in the countries where workers are not granted the scope of social standards and financial compensation, which they receive in so-called “first-world” countries. While I, of course, will not be able to fix everything by myself, I am determined to fight for resolving these problems.
The second issue I will be working on in terms of sustainability and containing side effects of globalisation will be unemployment. The …
