Globalization

Globalization is deterritorialization. It is the elimination of the boundaries. There should be no

boundaries. Where we can see that today expanding a business in the global market is much
easier because of globalization. As most of the countries support globalization and agreed to
support each other that means it is now possible to perform business activities in other countries.
Which is possible because of the change is global politics. On the other hand, technological
advancement also made I possible easily communicate and conduct business in the global
market.
But we need to consider three things which is 1. Culture 2. The legal framework of the culture
and last but not least the 3. The accountability part, means the accountability part of the business,
and to whom the business is accountable.
A business cannot change or eliminate the culture. Rather a business needs to adapt and respect
the culture. Even if we consider Geert Hofstede cultural dimension, we know that there are
different cultural where one’s value can be offending to other people who belong to another
culture. As an example, eating Pig is haram in Islam but in Christianity it is permissible. Also,
On the other hand as the company doing business in other countries, they have to follow the legal
framework of that country, where the legal framework of their home country will not be
applicable. Lastly, the organization is accountable to its stakeholder, the government and other
organization. And failed to consider these factors will result in loss of support from the
consumer, increaser outside restriction and regulation and unproductivity which ultimately result
in business failure. The business will be unsustainable.
Now, In Bangladesh there are many organizations is following and considering all the factors but
there are also examples of company who are not following or considering the cultural, legal and
accountability
A year ago, we saw that there is a new trend which was an increase in Shisha Lounge business.
But did they consider our cultural, legal accountability factors? No, because Shisha is not
accepted in our culture. It perceived as drug or an addiction which cause unnecessary spending.
Which does not add value to the society as well as the people. And the result is the businesses
have to race outside restriction. From the government, police as well as its stakeholders. And
ultimately, they had to postpone their busines.
In the meantime, some companies are really doing well. As an example, a ride sharing company
who launched female only ride sharing service where they are giving opportunity to female
riders as well as providing a comfortable ride to its customers. Now, we have found that they are
doing well and have a really good customer support. So, they have the support from the
consumer, as well as they are providing service maintaining proper legal framework. On top of it
they are really committed to its stakeholders, they are accountable to its consumer.