GLOBALISATION AND GOVERNANCE IN BUSINESS

For the recent past, globalization has been offering extensive opportunities to the world. However, this progress has not been effective because some countries get integrated into the system faster than other countries. For this reason, globalization is considered as partnering economic system which is built on political, social dimensions, and legal factors (Robertson, 1990). All the factors must always be understood and action taken by the key players. On the other hand, governance plays a great role in the achievement of the goals and objectives of globalization. Globalization has also integrated to the point where about $1. 4 trillion per day will cross the world exchange markets. However, some aspects of globalization can be measured. Consequently, the increasing share of consumption of goods is in almost all part of the world and perceived to be coming from the same company.

The technology used in the production of these goods has been in standardization and invariant to the production and location (Okezie, 2013). Most of the political risk reported in the international market is as a result of the geographical locations, for instance, countries in Asia are likely to receive the economic instability compared to those from the west. The countries are always red marked for the countries that might be having interest in constructing their companies in the given countries. The stakeholders are in the move to ensure that the legal requirement set is of great benefit to all players. For example, the policies set should favor both developed and developing nations. Price control and pollution measures are much considered because they form part of challenged most experienced by the underdeveloped nations.

The agreement is that parties have reciprocal concessions in putting the trade relationships in mind that the equity is deemed by each. Secondly, the document stares the most favored nation by ensuring that a country ensures that it charges the lower rate of import duty. The document also helps in identifying the specific products that can be yielded to foreign currencies. Each country is also expected to abide by the pollution policies by ensuring that the industries set do not emit harmful gases which can affect the environment. The dangers of global warming become a factor in setting up the industries. The major environment CSR initiatives include environmental disclosures, policies, and environmental performance. Performance of the companies has improved the disclosure of the environmental policies to help in displaying the facilities and the assets owned within the company.

In the recent past, there has been a need for the expansion of the global market which has led to the expansion of the international market. The need has been mitigated by a number of factors. Some of these factors considered natural and artificial in nature. In the recent pasts, most of these developed world nations preferred selling their products directly to the countries which they felt was of the same culture and almost equal with them in the level of the economy. Finally, globalization and governance in business have a lot of benefits to the member states (Blombäck, 2009). The increased ion the economic scales is the backbone of free international trade. For instance, there is increased in the production specialization that is experienced across the globe.

Globalization allows the production of the goods and services across the world to meet the international market requirements. For this reason, the trade and pollution policies are strengthened to create an environment for healthy completion. Due to the constant changes that have been experienced in the climate, most of the companies are on the move to implements the CSR in the greening business Bibliography Antonelli, Cristiano. "The digital divide: understanding the economics of new information and communication technology in the global economy. " Information Economics and Policy 15, no. Retrieved on Dec 6, 2018 from: https://www. Eberhard-Harribey, Laurence. "Corporate social responsibility as a new paradigm in the European policy: how CSR comes to legitimate the European regulation process. " Corporate Governance: The international journal of business in society 6, no.