Ethical Issues in Globalization and International Marketing.

Ethical Issues in Globalization and International Marketing. ABSTRACT: The globalization of markets and increase in the productivity made several marketers and business persons to concentrate more on the ethical issues in cross-cultural settings. This article is mainly intended for ethical analysis and making decisions over the international marketing scenario. This paper provides few guidelines which may serve marketers in the area of marketing ethics. It is also used to assist out the marketers to behave in an ethical fashionable way. The local marketing conditions may differ out along from place to place, but some global marketing ethical principles should be applicable to all markets along the world. This Paper suggests creating a standard uniform code of ethics that will provide a solution to the problem of diversification in different cultures by implementing strategies in international marketing. Keywords: Globalization, International Marketing, Ethical principles. INTRODUCTION: Globalization and international marketing ethical issues are allied with one another. Steady increase in globalization lead to few problems which include ethics. From 1950 to 2000, world trade expanded almost 20-fold, far outstripping world output, which grew by six and a half times (WTO, 2001). Globalization refers to the process in which different cultures, societies and economies throughout the world will be connected and integrated through by a global network of transportation, communication, trade and business. This term is sometimes referred to as a economic globalization where several economies of the nations are combined through by a foreign investments, trade, capitalization, migration and many other factors. And it may be referred through by various other related terms. Increase in the globalization may result in many problems including ethical ones as both are related through in one way or the other. From past four decades the global trade increased by seven times where im ports, exports, trade and foreign investments played a major role in its increasing extent and surveillance. Even the cross border investments of small and medium ranging businesses are also increased almost five to six times in its productivity, yearly outflow and development along from the past 25 years and this meant that different persons are working along different geographical, social and marketing boundaries along worldwide. This shows out alternatively the related problems along with the change of different environments including ethical problems, financial and marketing personnel problems along locally and globally. If this trend continues the prophesies about globalization by Levitt will become reality in 2020. (Recep YÃ ¼cel, 2009) To manage out this trend fairly and situational there is a need to create universal ethical principles and norms. Theoretical Framework: Globalization: 2.1.1 History: According to Friedman (1999), globalization is:The inexorable integration of markets, nation States and technologies to a degree never witnessed before. Globalization is a term which was proposed and under veining its extent and development from thousands of years. But it significantly accelerated from 1980Â ´s after the demolishment of USSR. The word globalization is first employed in oxford dictionary in 1930. In considering the history of globalization, some authors focus on events since the discovery of the America in 1492, but most scholars and theorists concentrate on the much more recent past (www.globalpolicy.org).It was not until 1960Â ´s the term is widely used by economists and other social scientists. Since from its evolution the term is inspired to numerous and conceptive wordings and definitions dating back across the movements of different trading and cultural perceptive. United Nations termed the word globalization has many meanings and ways to define. According to it when using the term globalization in economical context it may refers to the one which cuts out the boundaries or barriers in between different nation s and establish out the smooth and efficient way for their trading and exchange which may include capitals, services, labor etc. Tom.J.Palmer described globalization as The diminution or elimination of state- enforced restrictions on exchanges across the borders and the increasingly integrated and complex global system of production and exchange that has emerged as a result. Roughly economic globalization is world trade and financial marketing integrated together. Globalization in other terms may refer as the process of forming global institutions. The global institutions are those which may be operated as that considering the entire world as single place. They may be distinguished from others in various terms such as in functioning at regional, national and international where each level may represent a different scope and set of social relationships. 2.1.2 Dimensions of Globalization: Globalization is the term which may be represented in various dimensions and it related to almost every fields of daily life. It differs from profession to profession i.e. for example it differs from some marketing staff to an engineer. Dimensions for globalization are as follows: (www.globalpolicy.org) Economics-Related to globalization in trading, finance, money, corporations and banking. Political-Related to science, governance, wars, peace, IGOS, NGOS, regimes. Sociology-Related to communities, conflicts, classes, nations, agreements. Psychology-Related to individuals as subjects and objects to global action. Anthropology-Related to overlapping of cultures, adapting, clashing, merging. Communications- Related by considering information as knowledge and tools-internet. Geography- Everything provided it can be anchored to as space. We do not consider globalization as some purely economical, industrial or some financial term which may relate or revolve through problems like free trade or some expanding role of financial and industrial markets. We consider globalization as a multi dimensional term and in fact it is a spectrum of four processes. Building the global economy Formation of world opinion Democratization, or the creation of a global economy The emergence of global political institutions. Building the global economy is the process where when once got up in the longer run its evolution related to international and interregional trade is primarily a function not of actual and growing gnp but will potential for structural change. The rapid emergence of global financial markets over the past two decades and they particularly effect the foreign exchange field and other forms of international investment will lead to reduce the influence of even major governments on their economy and in global economies and might loosen out the links between economic and political power has been broken out. According to Kongar, globalization has three dimensions. These are political, economic, and cultural aspects of globalism (www.kongar.org). Formation of the world opinion is the process where the working of the world system and all its conditions and actions of the participants are oriented to a common set of problems coming out from responsive to common aspirations and emerging out from world-wide problems. It is a process of social construction which contains both the reality and the values. Reality helps us to make sense of the world and values help us to keep priorities which we can accept some and to reject parallel. Democratization is the process in which one can define in narrow and the broadest terms. In broader term one may be defined it as a learning process in which humans can try to learn itself in the condition of `equality under law`. Similarly in narrower context we can define it more precisely as accumulation of conditions necessary for possible emergence of a global community, community of democracies and a global level association of a democratic character. Global Institutions: The emergence of global institutions is the process which shows up to what extent the global institutions will sort out the effect of globalization. When comes to globalization in international business it splits out to two faces one in markets and the other in production. The globalization of marketing side is the one in which merging of historically distinct markets in order to convert it into a huge global market and globalization of production refers to the merging of goods and services from although the world to take advantages in several national conditions like the difference in cost and quality factors etc. As markets globalize and increasing in cost factor and productivity, several globalized institutions are formed to manage out the matters related to this such as to manage, regulate the policies and to form several multinational treaties to govern the globalized business system. From past 55 years more number of global institutions has evolved to perform these tasks they are, General Agreement on Tariffs and Trade(GATT) and its successor, the World Trade Organization (WTO); the International Monetary Fund (IMF) and its twin sister, the World Bank and the United Nations (UN). All these institutions were created by voluntary agreement between individual nation-states, and their functions are enshrined in international treaties. (Hill, ibid: 9) All the above institutions play a major role in developing international business ethical rules and regulations. World Trade Organization is mainly responsible to guide and focus on all the countries who signed the treaty. Till date W.T.O has mo re than 145 nations and its purpose is to develop multinational agreements between the country member states. (www.imf.org). Global Business Strategies: Theodore Levitt (1983: 92-102) has argued that, due to the advent of modern communications and transport technologies, consumer tastes and preferences are becoming global, which is creating global markets for standardized consumer products. Local companies deal with overseas business investment and trade, managers must identify that managing international business vary from managing local business. We can observe that each country is unique, in culture, laws, legal systems, political factors and economy of country. Despite widespread globalization, still there are many big and enduring differences between the countries (Hill, ibid:. 19-37). Marketing strategies change from country to country as there is difference in culture and other factors. If we assume marketing strategy used in India may not be applied in Sweden and the strategy implemented in Sweden is not implemented in USA because of difference in various factors among countries for instance if we consider advertising in Germany it is illegal to use comparative advertising (Cateora Graham,2005: 483). Kuwait government controlled TV network to allows only 32 minutes of advertising per day in the evening (Sunil Erevelles and his colleagues,2002). According to Barlett and Ghoshal (1989), firms can use four strategies an international strategy, a multi-domestic strategy, a global strategy and a transnational strategy. Company use international strategy focus on transferring skills and its products transformed from different overseas market and give less importance to local markets. Organizations implements multi domestic strategy alters their marketing and business strategy to local or domestic conditions. Companies implement global strategy focus on acquire cost reductions produced from experience curve effects and local economy. Company implement transnational strategy involves a parallel focus on declining of costs, transferring skills and products. Ethical Problems in International Marketing: Research in Marketing Ethics is defined as the systematic study of how moralstandards are applied to marketing decisions, behaviors and institutions (Laczniak andMurphy 1993). 2.2.1 History of Ethics: Ethics is related to the field of philosophy concerned with morals and values. Ethics is divided into five branches: Meta ethics, Political ethics, normative ethics, virtue ethics and practical philosophy. Meta-Ethics: It focuses more on the grounds used to justify moral judgment than moral creating moral judgment. This ethics is just descriptive. Political-Ethics: It is concerned more on testing good society and the origins of political power such as government. Normative-Ethics: It is related to the developing theories which decide the actions done by human are right or wrong. Deontological ethics, utilitarian ethics and virtue ethics are all normative. Practical-Ethics: This ethics uses ethical principles and theories in practical environment such as, medical ethics, business ethics etc.

Banking and Finance Law Essay

Joint account holders, case: Arden v Bank of New South Wales (1956) VLR 569 Combination of account, the bank’s right to combine accounts is dependant on the accounts being the same or closely similar. The right to combine accounts without express agreement: accounts must be held by customer in the same capacity, must not be an agreement or course of dealing with the customer which has negated the bank’s right to combine accounts, customer’s indebtedness must have been incurred to the bank as an banker and not in relation to other business carried on by the bank eg travel business. The main case of this rule is: Garnett v McKewan 1872. Knowing Receipt: Case: Thomson v Clydesdale Bank Ltd (1893) AC 282 APPLICATION Fantastic Landscapes is a customer of the Red Bank because it has accounts in this bank which are overdraft account with has a borrowing limit of $100000 accepted by Red Bank and another account has $20000 (Account No 2) Applying to the content of the contact, Fantastic Landscapes has signed an agreement form that is an express terms made between Red Bank and Fantastic Landscapes. The general terms and conditions included the following clause 12: upon receipt of each monthly overdraft account statement, the account holder shall read the statement and notify the bank of any errors contained in the statement within 15 days. Failure to notify the bank of any errors within that time will be treated as a breach of contract by the account holder entitling the bank to its remedies at law. Applying to the bank’s duty of confidentiality, the Red Bank recorded transactions between it and its customer (Fantastic Landscapes) and reported to its customer every 15 days as written in the general term. However, Red Bank did not complete its duty to question valid mandate because the cheques drawn by Minnie (one of the director of Fantastic Landscapes) within a period of 3 months are unusual drawn on Fantastic Landscapes’ overdraft account. When according to joint account holders, Ben actually is an innocent joint account holder, so he has a right to sue the Red Bank for the breach of contract. However, applying to the duty of customer in section duty to organize business, following cases: Lewes Sanitary Steam Laundry Co Ltd v Barclay Co Ltd (1906) 95 LT 444; and (6. 1) National Bank of New Zealand Ltd v Walpole and Patterson Ltd (1975) 2NZLR 7. The Red bank has an absolute advantage in this case because of the express term written in the contract Another director of Fantastic Landscapes, Ben has failed when sue Red Bank to recredit account which Minnie has stolen because he did not check overdraft account during 3 months, and in the contract with Red Bank has asked he to rea d and notify the bank of any errors contained in the statement within 15 days. Therefore, Ben or Fantastic Landscapes could not claim back $50000. When apply to combination of account, the Fantastic Landscapes has won in this lawsuit. The Red Bank has combined overdraft account and Account No 2 without any notice because they hear that this company has just lot a large landscaping contract and not working any more. Moreover, Red Bank has agreed Fantastic Landscapes to borrow maximum $100000, so they can not combine account without any notice to this company even though its overdraft account has reached to $100000. Therefore, Red Bank has to pay $10000 penalty fee for Fantastic Landscapes to the finance company. According to duty of the banker, the BLB (Big Lender Bank) does not have any duty to Fantastic Landscapes because in this case, its customer Minnie just is its client. Therefore, BLB do not have any duty to her company although she is a director in that company and she has committed fraud. Moreover, BLB do not care about how Minnie paid off her debt because Minnie did not withdraw money in the trust account. In addition, according to Thomson v Clydesdale Bank Ltd (1893) AC 282. BLB does not need to care about its customer detail particularly. Hence, the chances for Fantastic Landscapes win in this case in not to high than the case it won before when against Red Bank to reclaim $10000 penalty fee for finance company. CONCLUSION In conclusion, the Fantastic Landscapes has won in the case against Red Bank for compensation for $10000 penalty fee when they applied their case to combination of account. They won because Red Bank has committed the rule when combine two accounts without any notice to its customer. On the other hand, although the main fault belong to Minnie, the Fantastic Landscapes has failed in the case to recredit, its account when apply express term between it and the Red Bank. After all, the BLB do not have any duty to Fantastic Landscapes for compensation because when apply knowing receipt rule via Thomson case.

Compare Eveline And A Rose For Emily And Desirees Baby

The Cost of Love In the three stories â€Å"Eveline†, â€Å"A Rose for Emily†, and â€Å"Desiree’s Baby† three single women go about love in three different ways. Their struggles for love are similar; the decisions they made you will not believe. One thing you can say about all the women is their poor love lives. With their fathers in their way, the women find it hard to find love. Love is a four letter word that everyone wants, but some never get to experience the happiness. While Eveline, Miss Emily, and Desiree have controlling fathers, they want love; one walked away from her happiness, one kills for it, and another kills herself. The youngest of the three the 19-year-old Eveline is left to take care of her home, siblings, and violent†¦show more content†¦It is noted in the passage that â€Å"Homer himself had remarked--he liked men, and it was known that he drank with the younger men in the Elks Club--that he was not a marrying man† (4). First her fath er runs away men, then when a man finally comes around he is homosexual. One day Miss Emily goes to the druggist and says â€Å"I want arsenic† (3). It is after seeing this that the people in town started to think she was going to commit suicide (4). Homer barron leaves and returns after Miss Emily’s two cousins leave. The people in the town never see him again and they say â€Å"the one we believed would marry her †¦ had deserted her. The body of Homer Barron was found on the bed with a piece of Miss Emily’s gray hair next to the body. And then there is Desiree, who is married to Armand. The two have a child; and months after being born the relationship turns volatile . After Armand’s mood changes â€Å" Desiree was miserable enough to die†(3). After asking Armand what he thinks on the skin color of their child, and he tells her that it is beause the baby is not white, and she is not white. In notes that he finds Armand reads But above all , she wrote, night and day, I thank the good God for having so arranged our lives that our dear Armand will never know that his mother, who adores him, belongs to the race that is cursed with the brand of slavery(6). In the time period in the story having a child that is not white is a disgrace. Armands Battle

Comparison of Weight Loss Plans - 1275 Words

Comparison of Medifast ® and Weight Watchers ® Weight Loss Plans Tia Jones COM/170 April 25, 2014 Nathan Coley Are you struggling with weight loss? Did you know that 95% of weight loss plans fail long-term? While Medifast ® and Weight Watchers are both effective weight loss plans, they differ in success rate, cost, and health risks. Do you believe that based on these reasons, one weight loss is preferable to another? Both of these plans are two of the most popular weight loss options available in today’s marketplace. How do you decide which is the best plan for you? Is their advertising true? As this journey begins, the curtain will be lifted to see what is really behind each of these weight loss options and then you can decide for†¦show more content†¦You also have free online access to food journals, nutrition guides, a weight-loss blog, and chat rooms. The length of this program is strictly up to the individual’s weight loss and goal weight maintenance needs. Weight Watchers ® offers several options based on how you would like to lose weight. Traditional weekly meetings at a specific location which cost between about $50 per month is available to those who need a little more encouragement or support. These meetings include meal preparation ideas, recipes, and a weekly weigh-in. The online option is available for those who have a busy schedule and do not want to attend weekly meetings. The cost is about $17 per month. You must either attend weekly meetings or use the online membership to be a part of the Weight Watchers ® program. You use our own food with this plan so there is no added cost for prepackaged food. Once you have achieved your goal weight and maintained it for 6 months, your membership is free. So each of our programs have some sort of cost attached to them. But what about side effects or health concerns? 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