BUSI 343 – DB 3 According to the Business Dictionary (2017), globalization

BUSI 343 – DB 3
According to the Business Dictionary (2017), globalization can be defined as, “The worldwide movement toward economic, financial, trade, and communications integration” (“globalization”). The Business Dictionary goes on to explain that
Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately (“globalization”).
Globalization is a process by which business develop global influence, or rather begin operating on some sort of international scale (Globalization, 2016). Globalization is the result of the pressure put by companies which, in turn, are under the close “magnifier” of all the involved factors (the so-called “stakeholders”) (Stela, 2013). This phenomenon is extraordinarily influential in the business world, effecting businesses and organizations, as well as the labor standards and free trade agreements. In order to find greater success and continually develop more progress, companies initiate more businesses, more selling options, more strategies and standards meant to grow their company as a whole (Stela, 2013). The broader a company gets, branching into different counties, states, or even nations, the more important it becomes to ensure that the labor standards are consistent and the employees in each portion of the company are being treated with fairness. Enforcing them can be difficult, seeing as management in each separate branch of the company is run by different individuals, but strategies for ensuring that these standards remain consistent is by keeping corporate involved in the day-to-day operations of the various employees.
While employees are by no means slaves, Colossians 4:1 still applies to the situation, in which it states, “Masters, treat your slaves justly and fairly, knowing that you also have a Master in heaven” (ESV). Owners of businesses should remain consistent in their treatment of employees, making sure that the management teams are upholding standards in the utmost consistent manner across the entire line of business.