GLOBALIZATION: EMERGING ISSUES IN BUSINESS LEADERSHIP

Abstract

When the phenomenon of globalization was first articulated, it was received with acclaim in some significant

circles who viewed it as a process of enabling financial and investment markets to operate internationally

without regimes interference, and fast moving information would enhance the process. Multinational compa

nies embraced globalization as providing immense opportunities for developing business and expanding the

democratic space for all nations. However, in this paper, I have argued that the process of globalization, as

inevitable as it is, has exacerbated underdevelopment in developing nations and communities. I further argued

that globalization has direct bearing on my foundational thesis: that globalization is apt to marginalize develop

ing people and communities when sound moral principles do not animate players in the developmental game.

The paper highlighted emerging pertinent issues that favor the stronger players at the expense of the weaker

ones. In other words, I perceived globalization (as it is conceptualized today) as posing serious developmental

challenges that need to be highlighted and addressed rationally in order to respond to all globalization dynamics

responsibly. My conclusion was that the need to inject moral capital into international business, education, and

governance was urgent.