Globalization and its Challenges for Business and Business Ethics in the Twenty‐First Century

23 Pages Posted: 29 Aug 2012

See all articles by Patricia H. Werhane

Patricia H. Werhane

University of Virginia - Darden School of Business

Date Written: Fall 2012

Abstract

The global expansion of free enterprise has been underway for some time, and the challenges for global companies are well‐known. Companies often operate in economically blighted communities and in corrupt environments without a rule of law. At the same time Western‐based global corporations are under increasing public pressure to take on responsibilities to these communities that are often beyond their expertise or economic purview. For example, at the 2008 Davos meetings Bill Gates proposed the idea of “creative capitalism, challenging business to ‘meet the needs of the poor in ways that generate profits’...” In what follows I shall argue that while there have been many successful global ventures, the Gates’ challenge requires academics and managerial leaders to rethink their mind sets and expand their thinking about what we mean by globalization, poverty, and the multiple dimensions of free enterprise.

Suggested Citation

Werhane, Patricia H., Globalization and its Challenges for Business and Business Ethics in the Twenty‐First Century (Fall 2012). Business and Society Review, Vol. 117, Issue 3, pp. 383-405, 2012. Available at SSRN: https://ssrn.com/abstract=2138040 or http://dx.doi.org/10.1111/j.1467-8594.2012.00410.x

Patricia H. Werhane (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-4840 (Phone)

HOME PAGE: http://www.darden.virginia.edu/faculty/werhane.htm

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