how management has changed with respect to Globalization

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Hi there,

Here is some information for you that should be very helpful regarding how corporate ethics have changed over the course of the 20th century and into the 21st century:

Title of Article: The new ethical agenda for business

By Peter Day, BBC News business correspondent, presenter of In Business on Radio 4 and Global Business on the BBC World Service. Given on 16/9/2005

It's fascinating to be involved in the start of this particular enterprise, even if its name suggests that somebody has been moving the fridge magnets around. All I bring to this is three decades of reporting on business, a whole world into which ethics has been intruding, step by step, over the years.

For example, thirty years ago, the City of London governed itself by a process of self regulation presided over by the winks and nods of the eyebrows of the governor of the Bank of England (a person who never ever by the way spoke in public). It was an introverted world like the professions, the law, health, education (including the universities, of course.) It was a world which applauded the sentiments of the Victorian journalist Walter Bagehot, who wrote of the monarchy: "One does not let daylight in upon magic". It was a world where corporate responsibility was only to the company's shareholders. And the only to a very limited, inside track proportion of them.
Ethics, when they were talked about, consisted of slogans: "My Word is my Bond" in the London Stock Exchange; in public life the Golden Rule: "Do as you would be done by." Or (more likely) "Don't get caught".

I don't have time to have time to describe the mechanisms of change that have made that world as distant as the horse and cart age. I don't think that there's been a rush of ethics per se. What we've experienced is a combination of technology, globalisation, competition and education that has elevated ethics as a public and corporate consideration .. if only from the "don't get caught" point of view.

But the peering eye of the media and the "always on" Internet has made it much more difficult for people to hide. And when reputations have a share price attached to them, then ethical behaviour beings to matter. We saw it at Enron; more important from the ethical point of view, we saw it at Arthur Anderson, Enron's accountant, too. The late Arthur Anderson, that is.

Now I happen to think that the 21st century is going to be very different from the 20th century, and that impression was only adjusted, not destroyed, by the bursting of the dot-com bubble where such sentiments were commonplace but misplaced.

We have lived through only a few iteration of capitalism: 19th century manufacturing was replaced by 20th century mass ...