A Retrospective On Globalization and Sustainable Development
Roome, Nigel
Roome, Nigel
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Publication Type
Journal article
Editor
Supervisor
Publication Year
2011
Journal
Business and Professional Ethics Journal
Book
Publication Volume
30
Publication Issue
3
Publication Begin page
193
Publication End page
228
Publication Number of pages
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Abstract
The 2008 ‘credit crisis’ brought to attention that business and finance operate in open-complex systems. In contrast, the period leading up to the crisis was dominated by narrower thinking developed from the idea that business was about economics and that management concerned agency. This paper revisits ideas first developed in the late 1990s that arose from the observation that business was confronting interacting ‘systems.’ The main systems were around (sustainable) development, the internationalization of business and a set of social and cultural concerns resulting from globalization.The paper anticipated the collapse of parts of the economic system as a result of hyper-competition. It points to the growing significance of ‘identity’ and its potential to create a ‘clash of values.’ It concludes by suggesting that as we enter this ‘systems age’ our models and assumptions around the boundaries of companies and the idea of companies and stakeholders would be severely challenged.
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Keywords
35 Commerce, Management, Tourism and Services, 3507 Strategy, Management and Organisational Behaviour