Globalization is a dynamic topic originally developed by Theodore Levitt, a professor at Harvard Business School, in the 1960s. The term globalization, in simple terms, refers to the effect of the expansion of business on a global scale (Wetherly & Otter, 2011, The Business Environment) and the impact of international trade and services. While globalization has certainly allowed developing countries to access our markets and grow, there are many who argue that globalization has made the “rich richer while making the non-rich poorer”. With increasing globalization, many industries are transforming, with the impact of foreign competition resulting in changes in job opportunities as well as the relocation of production sites. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The recent wave of companies going global has led to various attempts at international guidelines to control a company's ethics and ensure that human beings and workers rights violations are eradicated. The idea of ​​globalization has three competing viewpoints; the neoclassical vision, the Marxist vision and the structuralist vision. In this essay I will discuss these views, examining the advantages and disadvantages in relation to global companies and outlining the effect this process is having on the global market. The first perspective on globalization that I will talk about is the neoliberal vision. This ideology focuses on the benefits of globalization to an economy and supports the thesis that market liberalization allows for the expansion of international markets as well as the growth of both developing and developed countries. (211, Wetherly and Otter, 2011, The Business Environment). This perspective was especially popular in the 19th century, when industrialization first allowed the commercialization of a range of raw materials around the world. However, during this period, it was accepted that more industrialized nations would focus on manufactured products while less industrialized countries would handle raw resources due to low labor and material costs. This is the "international division of labor" (http://www.encyclopedia.com/social-sciences-and-law/sociology-and-social-reform/sociology-general-terms-and-concepts-48) a idea in line with the neoliberal vision, creating a "growing differentiation of economic activity", thus highlighting the advantages of globalization. However this idea has been criticized due to the inequalities it can create and "after 1945 both developed and developing countries chose to intervene in markets and engage in trade protection policies". There was a revival of the idea of ​​neoliberalism in 1989 when John Williamson, an English economist, put forward the idea of ​​Washington consensus. The Washington consensus is a set of 10 economic policies designed to reduce government spending with ideas such as removing state control over industries, as well as redirecting tax breaks for the wealthy, reducing tariff barriers, and privatizing state-owned enterprises. These economic ideas have their drawbacks, however. For example, privatization of state-owned enterprises can lead to neglect of the poor and lead to a wider gap between rich and poor. It is also argued that the idea of ​​redirecting public spending towards the public sector is often overlooked, with the focus tending to fall on market-oriented policies. The second perspectiveon globalization is the Marxist/radical view that globalization is a bad thing. The embodiment of this view is Karl Marx, whose theories are still useful in today's globalized economy. Marx's views reinforce the idea that “globalization is the result of the global expansion of capitalism” and will ultimately lead to a revolution against the holders of capital due to the exploitation of less developed countries. These ideas were later developed by radical writers such as Robert McChesney, who argued that globalization is “capitalism constituted on a transnational basis, not only in the trade of goods and services but, more importantly, in the flow of capital and trade of currencies and financial instruments". (McChesney, 1998) Many people have even linked globalization to the construct of imperialism, “the practice of a nation extending its influence, taking control of other countries through colonization or the use of military force.” Although these theories have attempted to create a system of true equality and benefit society, they have their drawbacks. The Marxist approach requires people to live as part of a community and allows private property. This limits the control the public has over their place of residence and their businesses, which decreases the incentive to work, as well as limiting opportunities for new entrepreneurs since their company would be owned by the government. The final perspective on globalization is the structuralist approach, as globalization has the potential to enable industrialization in less developed countries without limiting the success of current global businesses that may rely on these countries for production. This approach was originally developed by Amartya Sen, Nobel Prize winner in economics in 1998, and outlines the need for “late industrialisation”. In order to “enter the market”, these countries need structures that help and assist them. Farmers in these countries may not have access to the information needed to expand and start trading in the free market, so structures such as advanced education need to be put in place to ensure these farmers are given a fair chance. One of the most visible examples of globalization is that of large cities such as New York and Tokyo, which all share a number of similarities due to globalization. These cities, in particular, have become information centers while at the same time experiencing a period of deindustrialization due to globalization. Production automation reduces industrial presence (Reitz, Globalization and Society, 2003) as factories are relocated and replaced by knowledge-based activities such as marketing and design. This can be seen recently in Birmingham Please note: this is just one example. Get a custom paper from our expert writers now. Get a Custom Essay Globalization is happening right now and so perhaps the topic should focus less on whether it is beneficial or not, but let us look more carefully at the effect globalization could have on the global environment and the possible ethical exploitations of large multinationals. In recent times there has been increasing pressure for global companies to act in a socially responsible manner. Different international institutions have developed different guidelines, such as the United Nations Charter or the World Trade Organization, which are becoming increasingly important for today's multinationals for fear of public reactions (Homann, Koslowski and Luetge. Globalization and Business Ethics . 2007). . This gives a company the opportunity to..