Executive Summary

The new version of globalization sees the trans- and multinational companies being the major players guided by the policies and treaties of the oversight international organizations and supported by technology. Given that the focus continues to be cross border trade, integration and investment, in the absence of any communal decision making process with defined criteria, it has been clear that globalization continues to be challenged with respect to ethical decision making for sustainable development.
This paper summarizes the role and function of the major globalization oversight organizations and touches on the extent of the power that they wield. It briefly discusses the advantages and disadvantages of globalization and attempts to identify the goals of globalization and given these goals and the identification of the stakeholders and subsequently to evaluate whether or not it is a driver or barrier to ethical decision making and sustainable development.

‘Ethics is more than the right thing to do: it's the smart thing to do.’
Global Institute of Ethics

1.0 Introduction

It appears to be no easy feat to get a precise definition for Globalization. The definition can range from that of Nobel prize-winning economist Joseph Stiglitz who defined it as “the closer integration of the countries and peoples of the world which has been brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, and (to a lesser extent) people across borders,” or one that focuses on the construction of a vast global economy through the, ‘interaction and integration among the people, companies and governments of different nations in a process driven by international trade and investment and aided by information technology.’ Regardless of the definition, there is consensus on key features of globalization which include cross border trade, integration and investment.

While the terminology may be fairly new, historically this process has going on for centuries as history has shown. However, there are new developments in the process of globalization that have spurred previously unprecedented increases in cross border trade, investment and migration. Indeed many believe that the world has crossed the threshold into a new dimension of economic development with this unparalleled global phenomenon being aided and supported by technology and policy.

With the intent of creating new opportunities for trade and investment, specially crafted national and international policies have opened borders and economies. These policies have resulted in the establishment of agreements, adoption of the free-market economic systems, reduction and/or elimination of barriers to entry and establishment of manufacturing plants.

The mechanism through which globalization has exploded is due to technological advances especially in the realm of information technology and communication as well as manufacturing, processing, packaging, storage and transportation. The ICTs however have provided user friendly and rapid access for potential investors to identify and pursue opportunities for trade and investment.
Many of the investors are those that possess the capital and technology to take advantage of the opportunities that are available in other countries. Some of the major attractions for investment may include:
• Cheap and available raw materials including energy and water
• Cheap and available labour supply
• Good infrastructure such as roads, transport, ports
• Incentives to invest such as tax breaks

While theories about globalization abound, it is accepted that it is a process of the integration of national economies as a result of trans-national activities usually conducted by a range of corporations. The general consensus is that globalization can be conducted through four (4) levels .

Level I The multi-domestic company where the business consists of several independent units that operate in different countries, with little communication between them.

Level II The international company which maintains a headquarters in one country and operates branches in other countries and as a result, the company is likely to impose its home country bias on other markets rather than making a true effort to integrate into the global economy.

Level III The transnational company which consists of loosely integrated business units in several countries and at this level, the company makes a greater effort to address the local needs of operations in each country.

Level IV The truly global company which views the world as a single market and develops an overall strategy for its various operations around the world, and applies the lessons of each country to ensure its global success.

The general consensus appears to be that whether you are a trans-national corporation or an indigenous small business, ‘ethical decision-making fosters employee morale, boosts brand reputation, encourages loyalty in customers and employees, and improves your bottom line… translates to unwavering, long-term consumer loyalty.’

Given the above introduction to the topic of globalization and ethics, the author will attempt to identify the goals of globalization and subsequently to evaluate whether or not it is a driver or barrier to ethical decision making and sustainable development.

2.0 Literature Review

2.1 Management of Globalization

An extensive review of the literature suggests that the management of globalization is conducted through the escalating prominence of several main international organizations through multinational agreements and treaties, all of which were created by voluntary agreement among the member nation-states.

Table 1 Management of Globalization Issues
Organization Summary Details Summary of Relevance
General Agreement on Tariffs and Trade (GATT) • A treaty created in 1947 following the conclusion of World War II and implemented to further regulate world trade to aide in the economic recovery war.
• Starting with 23 nations in 1947 and ending with 123 member nations by 1994.
• GATT's main objective was to reduce the barriers of international trade through the reduction of tariffs, quotas and subsidies on a reciprocal and mutually advantageous basis. • A tariff, a tool used to shape trade policy, is a tax imposed on imported goods and services usually used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers.
• Tariffs provide additional revenue for governments and domestic producers at the expense of consumers and foreign producers.5
World Trade Organization (WTO) • The WTO was created in 1995 and is the second incarnation of GATT and presently comprises 161 (2015) member countries.
• It is the only global international organization dealing with the rules of trade between nations and is a multilateral agreement settlement mechanism of GATT. • Unlike GATT, which was a set of rules agreed upon by nations, the WTO is an institutional body.
• The WTO expanded its scope from traded goods to include trade within the service sector and intellectual property rights.
• The goal of the WTO agreements, is to help producers of goods and services, exporters, and importers conduct their business by dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
International Monetary Fund (IMF) • A cooperative institution created in 1945 and presently comprised of 188 (2015) countries to foster and facilitate among other things, global monetary cooperation, financial stability and international trade. (International Monetary Fund 2015)
• The primary purpose is to ensure the stability of the international monetary system.7
World Bank (WB) • Created in 1944, it is primarily development institution which provides low-interest loans, interest-free credits, and grants to developing countries. (Role of the IMF and the World Bank 2015)
• The primary purpose is to promote economic and social progress in developing countries by helping raise productivity so that their people may live a better and fuller life.8
The United Nations (UN) • The United Nations is an international organization founded in 1945 and is currently made up of 193 Member States. (United Nations 2015) • Its mission includes: maintenance of international peace & security, promotion of sustainable development, protection of human rights, upholding of international law and the delivery of humanitarian aid.

It is clear from the literature that the stated rationale for the proliferation of these international instruments was deal with global problems including peace and security, economic growth and development, the environment, health, and international trade. The literature also shows a clear demarcation of those who are proponents and others who are opponents to these organizations.
2.2 Dimensions of Globalization

According to the World Atlas, there are between 189 – 196 countries in the world. (World Atlas 2015) The information in Table 1 identifies between 123 - 188 individual member countries within the organizations that manage the various facets of globalization and therefore these organizations have many important roles in creating international business ethical rules and regulations.

The complexity and scope of these organizations who manage global affairs, set the rules, police the system and effect punishment is clearly observable from the data below which succinctly identifies what the WTO can do.

The WTO can (World Trade Organisation 2015)...
• cut living costs and raise living standards
• settle disputes and reduce trade tensions
• stimulate economic growth and employment
• cut the cost of doing business internationally
• encourage good governance
• help countries develop
• give the weak a stronger voice
• support the environment and health
• contribute to peace and stability

It is clear therefore that influences and impacts of globalization facilitated and fostered through the management organizations are wide spread and deep either with positive or negative impacts on the economic and social fabric of nations.

While Kongar defines globalization as having three main aspects (political, economic, and cultural) aspects of globalism, Yücel (2010) considers globalization is an umbrella term for a multi-dimensional phenomenon and process that incorporates the following fields and scopes with each discipline having a distinctive construct of the phenomenon.

• Economics Trade, money, corporations, banking, capital
• Politics Science, governance, wars, peace, IGOS, NGOS, and regimes
• Sociology Communities, conflict, classes, nations, agreements
• Psychology Individuals as subjects and objects of global action
• Anthropology Cultures overlapping, adapting, clashing, merging
• Communications Information as knowledge and tools-internet
• Geography Affecting all geographic locations

It is clear from the literature that globalization appears to be one of the most significant changes affecting the modern world and many consider it to be, if not managed fairly, a political and economic weapon with the potential of mass destruction and homogenization of culture. Indeed there are many who are a part of the resistance ‘anti-globalization’ movement.

2.3 Ethics and Globalization

Given that the process of globalization impacts upon almost all countries, the question of business and social ethics becomes significant on a global scale. According to the Merriam-Webster Dictionary, ethics is a, ‘set of rules of behaviour based on ideas about what is morally good or bad’ and is founded and executed based on a set of moral principles. Clearly this is a very subjective definition leaving much room for exploration and conflict. What is clear from the literature however is that the principles of ethical reasoning are useful tools for organization of intricate human interactions.

According to the American Psychological Association, there are five (5) overarching and general principles of Ethics (Benov 2013)which are intended to provide guidance and inspiration. While these principles have been instrumental in providing direction to the psychologists themselves to achieve the highest ethical ideals of the profession and provide standards of professional conduct, perhaps they can also be used as the foundation to create an acceptable framework to understand ethics on a global scale and as such, the author will use these guiding principles to explore the foundations of ethics and the expectation of ethical behaviour. The author is guided by the primary goal of these principles which is, ‘the welfare and protection of the relevant individuals and groups’ and with the intention to, ‘respect and protect human and civil rights, and do not knowingly participate in or condone unfair discriminatory practices.’

2.3.1 Principle A: Beneficence and Non-maleficence

The first principle is clear that in any interaction, it is necessary to safeguard the welfare and rights of those with whom we interact and attempt at all times to conduct activities, ‘independently of bias, prejudice and malignant affiliations and with a clear sense that what they are doing has very often impact on the lives of others.’ It is expected that at all times, the policy makers and lawmakers and always to stay critical and alert for such possibility.

2.3.2 Principle B: Fidelity and Responsibility

This principle focuses on the ethical compliance of others in their professional and general conduct with an aim to assist others to improve the quality of their work before it enters into the public domain. This principle also points out that while any ethical misconduct that is discovered should be pointed out with respect as decision-making in relation to ethics is fairly complex and influenced by factors that may lie beyond one’s control.

2.3.3 Principle C: Integrity

The third principle deals with, ‘manipulation, fraud, fabricating results’ with great attention being placed on the possible consequences that may arise from these unethical activities.

2.3.4 Principle D: Justice

The principles of ‘fairness and justice’ entitle all persons to equally have access to and benefit from processes, procedures, and services being delivered.
2.3.5 Principle E: Respect for People’s Rights and Dignity

The final value, while encompassing all other principles emphasises the requirement to obtain an individual’s consent and protecting their confidentiality and privacy with keen awareness of diversity with respect to many key social factors such as age, gender, gender identity, race, ethnicity, culture, national origin, religion, sexual orientation, disability, language, and socioeconomic status, among others. The aim is to understand and perhaps accept the diversity that exists among people and cultures.

The above central principles are in alignment with those basic ones that all people are expected to follow in their professional career (Business Ethics: An overview 2015) and daily activities which include the following:
• impartiality: objectivity;
• openness: full disclosure;
• confidentiality: trust;
• due diligence/duty of care;
• fidelity to professional responsibilities; and
• avoiding potential or apparent conflict of interest.

2.3.6 Ethics in Business

While the concept, exploration and development of ethical issues apparently started as a social construct from the most ancient cultures, it has become the foundation of business activities as there is an expectation of the application of universal ethical ideas to business behaviour. This is clearly not easily observable in a cursory review of the world of business which is replete with cases of bribery and corruption, fraudulent activities of national and transnational companies which boggles the mind as the scale of swindle, scam and deceit have negatively impacted on stockholders, consumers, employees, creditors and governments to varying degrees. These ethical missteps and scandals create quite an exhaustive list which include presidential and government scandals, corporate, accounting, research, automotive, sport, religious and journalism among others. Some of the more well-known include:

• The Union Carbide Bhopal disaster
• The Bernie Madoff Ponzi Scheme
• Enron Corp.
• Lehman Brothers'
• Several financial banking crises
• FIFA corruption scandal
• Volkswagen emissions violations

Given that these common illegal and unethical behaviour by business and its employees imposes great costs on business itself and the society at large, but there continues to be public expectation of ethical conduct of business transactions. There are unrelenting attempts to minimize these activities through economic sanctions and international codes of ethical behaviour with the expectation that business transactions be conducted ethically such that, ‘sum total of principles and code of conduct businessmen are expected to follow in their dealings with their fellowmen such as stockholders, employees, customers, creditors, and comply with to enact the laws of the land and to protect all these stakeholders (Rani 2015).

But while the unethical makes headlines, there are also those companies that are listed as ethical companies and indeed Forbes lists these annually. Some of those global companies on this ethical list for 2014 (World's most ethical companies 2015) include:
• GAP Inc.
• Dell Inc.
• Google Inc.
• Colgate-Palmolive Company
• The Hershey Company
• TATA Steel Limited

2.3.7 Global Ethics
A review of the literature indicates that the identification and agreement upon specific ethical issues, on a global scale, is multifaceted and tremendously complex and some of the aspects of can be seen in Figure 1 below.

Figure 1 Some Ethical Issues of Globalization (Memon 2012)

The key ethical dilemmas in globalization appear to fall into two camps:
1. Those who strongly oppose the international institutions listed in Table 1, essentially support economic nationalism and believe that this type of globalization weakens the independence of nations and makes the country indebted to transnational corporations and

2. Those who oppose the WTO claiming that it is undemocratic, and ignores environmental problems and labour conditions such as child labour and workplace safety and increases inequality and further impoverishes the poor.

It is noted that the anti-globalist movement continues to grow in passion and strength with numerous global protests – some peaceful and others not.

The literature indicates that as a result of the cross-border trade and investment by multi-national (MNC) or trans-national corporations (TNC) in countries, there have been several positive impacts such as:

• Inward financial investment of leading to the creation of new jobs and skills for local people.
• The investment brings wealth and foreign currency to local economies when they buy local resources, products and services.
• Proper investment of this additional income can be used for development of critical sectors of the economy such as: education, health and infrastructure.
• The sharing of ideas, experiences and lifestyles of people and cultures.
• Globalisation increases awareness of events and issues.

The advocates of globalization therefore contend that the activities that result from the process of globalization can allow poor countries the opportunity for greater economic development and an increase in the standard of living.

However, the challengers of globalization claim that the free market approach has and continues to benefit only the multi-national corporations. While the opponents generally agree that globalisation is possibly helping to create more wealth in developing countries, they contend that the activities do not help close the gap between the world’s poorest countries and the world's richest and insist that the ultimate beneficiaries are those that have subsidiaries across the globe, at the expense of indigenous culture, businesses and sustainable development. This disparity can be clearly seen in the graphic on the BBC website which shows income distribution across the globe where the greater parts of the globe are earners of low or very low income.

Other obvious and agreed upon negative impacts include:
• The benefits to the richest countries from where the investing corporations reside and the continued domination of world trade
• Transnational companies, with their massive economies of scale may drive local companies out of business.
• Low levels of enforcement of laws can result in pollution of the environment, run risks with safety or impose poor working conditions and low wages on local workers.

• A possible threat to the world's cultural diversity as these huge trans-national corporations re-cast the whole world into a single mould.

3.0 Analysis

On the surface, the literature abounds with real life scenarios where corporations have made unethical decisions that have led to global fallout and negative impacts on countries, communities and individuals. This has resulted in a rallying cry to improve decision making through the art and discipline of applying ethical principles to find the balance between the fiscal objectives of the corporation and the social responsibilities. Some analysts propose that the negative fallout of the publicized grossly unethical cases were not essentially due to malignant intention but perhaps more from a misunderstanding of the community (or cultural) standards as perhaps the multinational attempts to replicate itself through its subsidiaries across the globe without adequately taking culture into consideration. In such cases, the subsidiary and by extension the multinational corporation becomes an intruder with a function that appears to primarily be to fortify itself at the expense of the host.

Other analysts argue that the ethical underpinnings are so complex that attempts are made to treat problems simply and pragmatically especially when there are the issues of international trade commissions, tribunals, policies and sanctions as well as in-country issues that were outlined in Figure 1.

While both situations may arise, it certainly appears to be in the minority. Indeed almost all the cases reviewed indicate that the multinational corporations made decisions that did not follow the previously outlined ethical principles but instead focused on cutting corners and making profits and generally ensuring the survival and profitability of the multinational without taking the host or clients into consideration. These situations are certainly the consequence of poor and unethical decision making.

Perhaps the key question should be if the public can label the act of an organization as ethical or unethical similarly as we would the actions of individuals are? After a review of the literature, it is the author’s opinion that given that individuals are responsible for what the corporate does because corporate actions flow wholly out of their choices and behaviours then if a corporation acts wrongly, it is because of what some individual or individuals in that corporation chose to do. If a corporation acts morally, it is because some individual or individuals in that corporation chose to have the corporation act morally. In the author’s opinion therefore, it is acceptable to say that a corporate organization has moral duties and that it is morally responsible for its acts.

The process of globalization has several constituents including the lowering or removal of trade barriers and the upsurge of worldwide open markets supported by increasingly easy global communication and transportation systems and international instruments that have facilitated the international flow of capital and the spread of multinational corporations. It is clear therefore that the relative ease of global business opportunities, the absence of an accepted decision making framework and the absence of stringent monitoring and evaluation systems it is possible for globalization act as both drivers and barriers to ethical decision making and sustainable development.

Surely globalization has created significant economic benefits as MNCs such as the beverage giants Coca Cola, Pepsi and Nestle which have constructed manufacturing and assembly operations in countries with low labour costs and in the process create jobs, provide skills training, create the opportunity for increased income and bring technology to formerly undeveloped regions of the world.

All of these facets of the entry of the MNCs result in a raised standard of living in these areas and generally the provision of lower-priced goods. According to the World Bank, globalization has helped reduce the poverty of over 3 billion people in developing nations that recently opened their borders to global trade, such as China, India, Bangladesh, Brazil, Mexico, and Viet Nam (Ezedike 2013).

In summary, globalization has increased the world’s overall productivity and has made all participating nations better off than they would be if each nation tried to produce everything on its own. Indeed the benefits are shown in global studies where the provision of favourable conditions to the MNCs is aligned to a higher economic growth rate.

But the World Bank also reports that as globalization unrolls across the world it has also increased the inequalities between nations and within nations. A review of a Nigerian case study of activities18 (Ezedike 2013) of some multi-national corporations (MNCs) operating in Nigeria and concludes that in many ways they have failed to exhibit requisite moral responsibility in their business dealings. There have been incidences of a decline in labour, environmental, and wage standards as Nigeria tries to be competitive to keep the MNC operational and prevent them from moving to more lucrative sites; transfer to technologies and products into areas that are not yet ready for them e.g. infant formula as replacement for breast milk which when mixed with unsanitary water leads to high infant mortality; change in food consumption patterns with foreign nutrient deficient and unhealthy foods replacing local healthy foods; causing deadly pollution of land and water; introduction of substandard goods.

The ethical questions that arose from this Nigerian study included the following:
• What are their obligations to displaced workers in their home countries?
• Do multinationals have an obligation to try to improve the labour, environmental, and wage standards of the various countries in which they locate?
• Do they have any obligation to refrain from exploiting workers in which they locate?
• Do they have any obligation to refrain from exploiting workers in other countries, or should they simply look toward lowering their labour costs by whatever means?

Given the need to balance economic existence and ethics, it is expected that business ethics will be used to make decisions given that they are based on the principle of integrity and fairness and concentration the benefits to the stakeholders, both internal and external. The stakeholders usually include those who give the organization an existence and includes a myriad of shareholders including: employees, customers, vendors, suppliers, government and the society at large.

4.0 Conclusion

It is clear that while there are many who perceive the social benefits of globalization, at this time, it is primarily being driven by trade and investments with an expected return on investment of the maximum profits achievable. With this primary goal and the history of extreme unethical conduct in all realms studied, it is clear that at this time and with the present major players in the governing agencies and the multi-national corporations, globalization is a barrier to ethical decision making.

But the world is a global village and becoming more and more connected as technology evolves. As such, there exists the framework and real examples of globalization being able to be driver for ethical decision making and sustainable development as shown by those companies who have been listed by Forbes.

As the global development framework has evolved from the Millennium Development Goals to the Sustainable Development Goals, there are new and globally accepted targets that are expected to be used to frame country development agendas and political policies over the next 15 years. Perhaps to achieve these new global goals requires global ethics.

It is the author’s opinion that global ethics has its foundations in individual ethics which while still nebulous, has its foundations in core ethical values as outlined in Table 2.

Table 2 Core Ethical Values (Universal or Core Ethical Values 2002)
Core Ethical Values Ethical Value Dimensions

TRUSTWORTHINESS Honesty in communication & conduct:
• Truthfulness
• Sincerity / Non-deception
• Frankness Integrity: Avoid:
• Self-interest
• Self-protection
• Self-deception
• Self-righteousness Reliability:
• Avoid unwise & unclear decisions Loyalty:
• Prioritize loyalties
• Confidentiality
• Avoid conflicting interests

RESPECT • Civility
• Courtesy
• Tolerance
• Decency

RESPONSIBILITY • Accountability
• Pursuit of excellence
• Diligence
• Perseverance
• Continuous improvement
• Self-restraint
CARING • Caring is considered the heart of ethics and involves genuine concern for the welfare of others.
CITIZENSHIP • Knowing and behaving as a part of a community.

If the UN and other management agencies continue to maintain the perspective that globalisation is primarily an economic-financial activity, then there will continue to be the massive negative changes in world “geography” with a resultant loss of diversity and great potential for proliferation of inequalities with all the attendant negative impacts.

In this modern day where most are jaded global residents existing in a world where public trust has been severely eroded, ethics are more important than ever. It is the right time for globalization to be increasingly used to be a driver and to use core ethical values as the foundation for economic decision making. In this era of rising ethical expectations from the global public there is the potential to boost brand reputation, encourage loyalty in customers and employees and ultimately improve the profitability of the company. The author notes that these are the outcomes of ethical business and not the primary focus. At the same time, ethical decision making, will take into account what is best for all the stakeholders and allow the crafting of a win-win business strategy and model. The numerous reasons why businesses should act ethically have already been identified and subscribed too by those companies that have been labelled as ethical companies. These reasons include the following: (Business Ethics: An overview 2015)

• To protect its own interest;
• To protect the interests of the business community as a whole so that the public will have trust in it;
• To keep its commitment to society to act ethically;
• To meet stakeholder expectations;
• To prevent harm to the general public;
• To build trust with key stakeholder groups;
• To protect themselves from abuse of unethical employees and competitors;
• To protect their own reputations;
• To protect their own employees; and
• To create an environment in which workers can act in ways consistent with their values.

To continue to be a driver for ethical decision making and sustainable development, best practices will have to be identified and followed. Some of the already identified best practices include:
• Decision making using shared values
• Adopt an ethical decision-making framework
• Maintain the moral courage to choose to behave ethically

Based on the above pillars, it is clear that making ethical decisions in a global context is a dynamic activity that requires constant contextualization as organizations continue to compete for a share in the global market. The already established ethical global business leaders recognize the advantages of contemporary technologies and high-level managerial competencies but are deeply aware and promote ethical decision making for sustainable development. The literature indicates that there remains a myriad of demands to be explored and it certainly appears that we now live in a world of globalization without limit. As such it is a critical requirement that resources and acceptable systems are put in place for arbitration, alteration or coordination of ethical decision making especially in this era where nations, religions and political organizations work predominantly to serve their own interests.

5.0 Reflections

After a review of the literature and an analysis of the statement, the author believes that at this point in time ethical making is possible as continues to be apparent across traditional and social media. But it appears that this occurrence is more prevalent in the multinational corporations of mature societies although there is also obvious unethical decision making evident by global scandals. It immature societies like ours, unethical decision making is the norm as can be seen from the governments that get evicted, the CLICO and HCU scandals. Perhaps it is because there is a functional framework for accountability in the more mature countries and more individuals recognize and accept the value and their roles as global citizens with a responsibility for all. It will be a good study to explore the leaders in these organizations to try and identify the common factors. In such cases, globalization can act as a driver for ethical decision making and sustainable development. The author believes that in the case of our country and region, most of our society is not yet at that level. The author however continues to hope that the leaders and policy makers will increasingly see that an ethical foundation for decision-making is fundamental for effective management in a society and a world undergoing rapid change.

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