Given the existence of corporate governance codes, based presumably on Essay

Given the existence of corporate governance codes, based presumably on some ethical considerations, among British PLCs why do we still observe crises and failures of, for example, the Northern Rock type - Essay Example In like manner, Bear Stearns an upper tier US investment bank was only rescued from the crises by the Federal Reserve Bank. (Avgouleas, 2008). In addition other major investment banks such as Merrill Lynch, Citigroup, UBS, and JPMorgan have all announced negative earnings in their last financial reports as well as plans to lay off a significant number of workers. The paper first of all looks at the regulatory environment of Northern Rock; Corporate social responsibility (CSR) refers to the awareness, acceptance, and management of the implications and effects of all corporate decision†making, taking particular account of community investment, human rights, and employee relations, environmental practices, and ethical conduct. (Park, 2007). According to Hsueh (2008) CSR has received much attention in recent years and more and more businesses are taking CSR to improve their corporate image. CSR activities show consideration for the environment, consumers, charity, minority groups, employee welfare, community development, women empowerment, etc. (Hsueh, 2008) For example car manufacturers across the globe are responding to the major global concern of Carbon dioxide (CO2) emission which is tremendously depleting the ozone layer and increasing the risk of cancer and other diseases that come as a result of ultraviolet light. The next section looks at the banking code in relation to corporate social responsibility. â€Å"The practice of CSR is subject to much debate and criticism. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits†. (Sacconi, 2004) â€Å"Critics argue that CSR distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing; still others argue that it is an attempt to pre-empt the role of governments as a watchdog over

Globalization and the British East India Company Essay

Globalization and the British East India Company - Essay Example However, the historical origin of globalization has ever remained a subject of debate among the historians. In most cases or usage, globalization is the period that began in the 1970s, where some scholars consider that this period began longer than historians exactly locate, and it encompassed all the extra-nation activities. The history of globalization has little to do with the British East India Company. It is regarded that the most proponent of the historical origin of globalization lies with Andre Gunder Frank. He was an economist and was as well associated with the independent theory (Malik 22). According to Frank, globalization began with the rise of global trading links between the Indus valley Civilization and the Sumer back in the third millennium B.C. What was considered archaic globalization had its existence in the Hellenistic Age, the period that was marked with commercialized development of urban centers, which marked the axial of Greek culture whose influences reached Spain from India. Other cities that felt the impacts of the early globalization include Roman Empire, Han Dynasty, and Parthian empire. The increasing commercial trade links between these powers were experienced in the Silk Road. This road started in China then stretched out to the boundaries of Parthian Empire and later moved to Rome (Malik 49). From the archaic period, globalization move to another phase that was described by Islamic and Mongol eras. During this period, the Muslim and Jewish traders and explorers founded trade routes that led to agricultural globalization, trade, knowledge, and technology globalization. This period was marked with the introduction and wide spread of crops including cotton and sugar that were cultivated almost all over the Muslim world, while knowledge spread widely to the Hajj and Arabic world that led to the cosmopolitan culture (Malik 27). The Mongol empire though had a destabilizing effect to the commercial centers with the Middle East and chi na; it significantly influenced or facilitated movement along Silk Road (Malik 153). Pax Mongolica of the 13th century was marked with the introduction of the first international postal service, and the rapid transition and spread of epidemic diseases including bubonic plague that substantially affected Central Asia. The Mongol era played a vital part in the globalization up to the sixteenth century; however, the largest trade systems were limited to the Eurasia (Malik 56). The Maritime Europe later replaced the Mongol period. The Maritime Europe phase, which was also known as proto-globalization was defined by the rise in the Empire of the European Maritime that took place in the sixteenth and seventeenth centuries. The era saw the rise in the first Spanish and Portuguese Empires and later the rising of the British and Dutch Empires (Malik 77). In the seventeenth century, globalization was highly developed, and greater globalization organization became chartered companies. For inst ance, in the year 1600, the British East India Company was founded as the first multinational corporation. Later in 1602, the Dutch India Company was established. The British India Company was founded after the treaty of union as an early English joint- stock company. This organization was primarily formed to pursue trade with the East Indies; however, it ended up trading within the Indian Subcontinent and sometimes stretched its trades to China. Therefore, it is