Copyright

Ethics & the Future of Globalization Flashcards

Ethics & the Future of Globalization Flashcards
1/23 (missed) 0 0
Create Your Account To Continue Studying

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access
Globalization

The idea that the world is one huge market, not a bunch of small markets. In this environment, skill sets, not jobs, provide people with a safety net.

Got it
Economic Integration

Countries can set up these agreements if they want to remove barriers that hold back commerce and trade.

Got it
Emerging Market

These are markets that are growing rapidly and are generally stable. They form in countries that are changing from economically developing to economically developed.

Got it
Demographic Trends

These are changes related to the groups in a population. Recently, the global market has seen more young people entering the workforce and the middle class.

Got it
Technology

Tools and developments that make work, production and transportation easier and faster. The more this develops, the more the middle class grows around the globe.

Got it
Middle Class

This group drives the growth of economies. As it grows, it generates greater amounts of revenue for businesses in the global environment.

Got it
Strategic Alliance

This type of relationship forms when at least two businesses agree to work together in order to reach a mutually-shared objective.

Got it
Embargo

This restricts all trade with another country. This may be put into place by countries preparing to go to war with one another.

Got it
Rule of Law

This principle says that everyone, including the government, is subject to the law.

Got it
Tariff

These taxes are placed on goods that are imported into a country.

Got it
Import Quota

Rules set up to control how many imports can be brought into a market over a period of time.

Got it

Ready to move on?

Go to next lesson in chapter: Next lesson in chapter
or choose a specific lesson: See all lessons in this chapter
23 cards in set

Flashcard Content Overview

This set of flashcards focuses on green trade practices, uniform quality standards and the global responsibility of businesses. You'll find cards that go over ethical concerns for businesses and some of the causes of these issues. These cards also focus on the effects of globalization on businesses and employees. Additionally, laws related to global trade, such as tariffs, quotas and embargoes are addressed by these cards.

Front
Back
Import Quota

Rules set up to control how many imports can be brought into a market over a period of time.

Tariff

These taxes are placed on goods that are imported into a country.

Rule of Law

This principle says that everyone, including the government, is subject to the law.

Embargo

This restricts all trade with another country. This may be put into place by countries preparing to go to war with one another.

Strategic Alliance

This type of relationship forms when at least two businesses agree to work together in order to reach a mutually-shared objective.

Middle Class

This group drives the growth of economies. As it grows, it generates greater amounts of revenue for businesses in the global environment.

Technology

Tools and developments that make work, production and transportation easier and faster. The more this develops, the more the middle class grows around the globe.

Demographic Trends

These are changes related to the groups in a population. Recently, the global market has seen more young people entering the workforce and the middle class.

Emerging Market

These are markets that are growing rapidly and are generally stable. They form in countries that are changing from economically developing to economically developed.

Economic Integration

Countries can set up these agreements if they want to remove barriers that hold back commerce and trade.

Globalization

The idea that the world is one huge market, not a bunch of small markets. In this environment, skill sets, not jobs, provide people with a safety net.

Globalization: Effect on Workers

This process can cost many people their jobs. The people who stay employed usually work in cheaper areas and make more than they did, but not as much as those in better areas.

Globalization: Effect on Businesses

Businesses dealing with this process may suffer if their goods are not cheap or extremely well made. Businesses can succeed in this kind of market if they have a lot of capital.

Unethical Behavior: Causes

This type of behavior might occur when people are pressured to achieve a business goal, if they are confused about business standards, or due to misplaced loyalty to one's organization.

Business Culture

The norms and values that guide a company. Depending on the beliefs of a company's founder, these values may be good or bad.

Caux Round Table

A group developed by leaders in the business and political arena, as well as internationally-based special interest groups, who created a set of ethical codes/principles to be used globally.

International Business: Ethical Issues

These issues can be related to corruption; labor practices and conditions; and different environmental regulations around the world.

Cultural Imperialism

The practice of one culture moving in and supplanting another culture. This could happen if one culture forces another to use its language or subscribe to its work habits.

Uniform Quality Standards

These require that the quality of goods and services should be comparable regardless of where they were manufactured.

Global Responsibility: Incentives for Businesses

Businesses may be influenced to act in this manner on a global scale due to the free marketing they will receive and the fact that it makes customers more likely to buy their products.

Green Trade Practices

These are actions that are designed to lessen the impact a business has on the environment. This may involve restricting the use of certain chemicals or even plastic bags.

Social Pressure

This influence on businesses comes from customers or investors, instead of laws. It is usually used to force businesses into supporting the environment.

Outsourcing

This occurs when companies hire a third party, typically one that is overseas, to perform some of their work, primarily because it will be cheaper and more efficient.

To unlock this flashcard set you must be a Study.com Member.
Create your account

Unlock Your Education

See for yourself why 30 million people use Study.com

Become a Study.com member and start learning now.
Become a Member

Already a member? Log In

Support