Question

present two arguments going against globalization/ multinational corporations and explain each briefly. and explain how ethical relativism plays a role in international ethics.

Answer 1

Arguments against globalization:

1. Adverse effect on small scale industries :

Because MNCs have large financial resources, it spends a lot on advertisements and produces goods on a large scale, as a result of which the goods are sold at a cheaper rate, which small scale industries in the domestic market can not afford, and are forced to be shutdown.

2. Monopoly: MNCs have large human and financial resources and thus, by advertising and providing products at a cheaper rate, they easily capture large market areas, and thus they form Monopoly in the domestic market. After some time, they also start affecting economic policies.

How ethical relativism plays a role in international ethics:

1. Understanding and analyzing the needs and wants of the target market: Ethical relativism tells us whether the particular product will be morally and ethically acceptable for the target market or not, and MNC will get to know whether any prevailing product in a country will need any modifications while introducing it into a new country or not.

2. Attracting buyers: With the proper knowledge of ethics and morals of the prospective market, we can use adopt strategies and characteristics which will help us in attracting buyers.

3. Maintaining prominence: Ethical relativism will help us understand what actions should the company do which will morally impress the society, this will be helpful in the creation of goodwill over a market.

4. Entering a new market will be easy if we understand the ethics, morals and cultural trends in the prospective market.

*PLEASE RATE WITH A THUMBS UP *