1.

1EFFECT OF GLOBALISATION ON NATIONAL ECONOMIES

Globalisation can be seen of as a process or combination of processes that entails a shift in
the spatial organisation of social relations and transactions, resulting in transcontinental or
interregional flows, interactions, and power networks. There are different types of changes
that occur as a result of globalisation. To begin with, globalisation entails expanding social,
political, and economic acts beyond national and continental borders. Second, it advocates for
more interconnectedness and trade, investment, financial, and societal flows. Third, since the
progress of worldwide transportation and communication speeds up the movement of ideas,
goods, information, investment, and communities, the extensity and intensity of global inter
bonding can be attributed to a speeding up of global connections and developments.

Globalisation has a significant impact on any country's economic environment, as well as its
national government's economic development strategies. Globalisation allows for the free
movement of goods, capital, labour, and assets. Globalisation boosts a country's economy by
breaking down barriers to international trade, increasing stability and improving people's
quality of life.

Globalisation's economic growth has both beneficial and negative consequences for society.
Greater incomes per capita and higher living standards are two of the most important
advantages of economic progress. Its increased productivity has resulted in more job
possibilities, bringing the country closer to prosperity.

The native impact of globalisation is that revenue earned in a country is not spent in that
country for the improvement of its people's economic conditions; instead, it is spent in other
countries around the world, with the ultimate benefit going to the company's home country.
For example, the American based company Nike is one of the companies around the world,
where ever Nike products are sold, the ultimate benefit goes to America, but Nike enjoys a
competitive advantage. It also blurs the line between expert and unskilled workers.

Another major drawback of globalisation is that it increases the risk of illnesses spreading
unintentionally between countries.

Microsoft Windows is the best illustration of globalisation because it is developed in the

United States, but technical assistance is supplied in India, which benefits the Indian
economy.
 1.2DISCUSS THE INFLUENCE OF INTERNATIONAL INSTITUTIONS
ON ORGANIZATIONS
An international organisation (also known as an international institution or an
intergovernmental organisation) is a stable set of norms and laws that control the behaviour
of nations and other international entities. Organizations, such as the United Nations, the
World Health Organization, and NATO, can be founded by treaty or as an instrument
governed by international law and having its own legal personality. Member nations make up
the majority of international organisations, but other entities, such as other international
organisations, may also be included. Observer status can also be applied to entities (including
states).

International organisations play a role in setting the international agenda, mediating political
bargaining, providing a platform for political initiatives, and forming coalitions. They make it
easier for member countries to collaborate and coordinate. Furthermore, they support
worldwide programmes aiming at eliminating inequality.

International organisations, such as the European Union, African Union, and NATO,
normally have members from all over the world;. Regional organisations such as UNECE and
UNECA are part of the United Nations.

International organisations do a wide range of tasks, including gathering data and tracking
trends, providing services and help, and offering platforms for bargaining and resolving
problems. International organisations can serve to develop cooperative behaviour by offering
political mechanisms through which governments can work together to achieve common
goals. Individual governments can also benefit from IGOs, which are frequently used as
foreign policy instruments to legitimise their activities and control the behaviour of other
states.

Although specialised international bureaucracies administer the day-to-day operations of

most international organisations, state members retain ultimate control.
1.3EXPLAIN THE ROLE AND RESPONSIBILITY OD EUROPEAN
UNION MEMBERSHIPON THE WORKPLACE.

The European Union (EU) is a political and economic union made up of 27 countries
mostly in Europe. Diplomacy, human rights promotion, trade, development,
humanitarian aid, and collaboration with multilateral organisations are all areas where
the European Union plays a significant role. EU policies strive to ensure free
movement of people, goods, services, and money inside the internal market, pass
justice and home affairs laws, and preserve common trade, agricultural, fishing, and
regional development policies.

ROLE AND RESPONSIBILITY

EU policies encourage the start-up of new firms and assist the expansion of
innovative businesses. Enhanced trade agreements create new markets for EU
enterprises, and action can be taken to protect EU businesses from unfair competition
from outside the bloc. The EU's goals are to:

• Promote innovation as a method of generating new sources of growth

• Encourage small firms and foster an entrepreneurial culture
• Ensure an EU-wide market for goods
• Maximize the benefits of the EU's space investment
• Promote skills and entrepreneurship
• Coordinate and modernise social security programmes
• Improve working conditions through uniform minimum standards
• Support social inclusion and poverty alleviation
• Protect the rights of individuals with impairments

The EU is dedicated to assisting businesses and industry in becoming more competitive

and creating new jobs. The goal is to assist European businesses in becoming more
intelligent, inventive, and sustainable. By setting adequate framework conditions,
industrial policy adds to competitiveness (such as smart legislation and skills
development). More than a dozen key industry sectors, including chemicals, automotive,
food, healthcare, biotechnology, and aeronautics, have sector-specific action plans and
laws developed by the European Commission.
2.1 EXPLAIN THE IMPORTANCE OF RESPONSIBLE CORPORATE
GOVERNANCE IN ORGANIZATIONS

A company's direction and control are governed by a set of rules, procedures, and processes
known as corporate governance. Corporate governance is balancing the interests of a
company's various stakeholders, including shareholders, top management executives,
consumers, suppliers, financiers, the government, and the general public.

Community and investor relations require a firm's corporate governance to be

communicated. Corporate governance is something that most businesses aspire towards.
Good corporate governance establishes a visible system of rules and regulations with
matched incentives for shareholders, directors, and executives.

IMPORTANCE

Investors value corporate governance because it demonstrates a company's direction and

business integrity. Corporate governance aids in the development of trust among investors
and the general public. As a result, corporate governance contributes to financial viability by
providing market players with a long-term investment opportunity.

Corporate governance is crucial because it establishes a set of rules and policies that regulate
how a company runs and how all of its stakeholders' interests are aligned. Corporate
governance leads to ethical business practises, and ethical business practises lead to financial
viability.

Strong and effective corporate governance contributes to the development of an ethical

corporate culture, which leads to improved performance and a long-term business. When a
firm has good corporate governance, it shows the market that it is well run and that
management's interests are aligned with those of external stakeholders. As a result, it can
give your business a significant competitive advantage. Good corporate governance has a
number of direct benefits for businesses, including:

• Efficient Processes 
• Reduced Costs
• Smoother–Running Operations 
• Compliance 
2.2 ANALYZE THE REGULATORY REQUIREMENTS THAT SHAPE
CORPORATE GOVERNANCE.

A company's direction and control are governed by a set of rules, procedures, and processes
known as corporate governance.

The legal, regulatory, institutional, and ethical context of the community influences the
corporate governance structure. Corporate governance is usually defined as a set of legal and
non-legal rules and practises that affect the control of publicly traded companies.

REGULATORY REQUIREMENTS

The primary goal of corporate governance is to increase and maximise shareholder value
while also safeguarding the interests of other stakeholders. Corporate Governance is defined
by the World Bank as a combination of law, regulation, and appropriate voluntary private
sector practises that enable a company to attract financial and human capital, perform
efficiently, and prepare for the future by generating long-term economic value for its
shareholders while also respecting the interests of stakeholders and society as a whole.
Corporate governance has a number of goals in order to increase investor trust, which in turn
leads to faster company growth and profitability. The following are some of them:

• At the helm of affairs is a properly formed Board capable of making independent

and objective judgments.
• The Board is well-balanced in terms of the number of non-executive and
independent directors who will look out for the interests and well-being of all
stakeholders.
• The Board accepts open and transparent procedures and practises and bases its
decisions on sufficient information.
• The Board has a good system in place to understand stakeholder concerns.
• The Board keeps shareholders up to date on important changes that affect the
company.
• The Board effectively and routinely monitors the management team's
performance.
• At all times, the Board maintains effective control over the company's affairs.
2.3 EVALUATE THE IMPACT OF REGULATORY REQUIREMENTS ON
CORPORATE STAKEHOLDERS INTERESTS IN AN ORGANIZATION.

Every business has at least one stakeholder with a vested interest in its success. Stakeholders
can range from corporate owners to government agencies to rivals, and they can all play a
role in assisting an organisation accomplish its strategic goals through investing, providing
knowledge, staffing, and exerting influence. Stakeholders desire evidence of efforts that
improve the firm's competitive position when examining the competitive nature of business.
They also desire risk-reduction efforts that improve performance and profitability.

To create stakeholder value, a variety of distinct business concerns must be addressed. If you
wish to maximise shareholder value by complying with regulations, the actions below can
help.

• UNDERSTAND THE BUSINESS INTERESTS OF YOUR PARTNERS - Make

certain you are aware of their expectations. Once you've figured out what they want,
see what you need to do to make it happen. Compliance with specified rules,
regulations, and standards may be required.

• UNDERSTAND THE INFLUENCE OF STOCKHOLDERS ON YOUR

CULTURE- Stakeholders can affect the values of your organisation and its value set,
which are important factors for success. Examine how corporate compliance activities
can help you meet your stakeholders' expectations in terms of business culture once
you've defined them.

• LISTEN TO YOUR STAKEHOLDERS-Successful firms acquire their energy,

values, attitude, and business approach from senior management, which might include
stakeholders. Determine what your stakeholders expect from a compliance
programme and provide it.

• FIGURE OUT HOW STOCKHOLDERS CAN RENEW CORE VALUE-

Stakeholders, particularly those who were involved in the company's establishment
and launch, may have a significant impact on the company's basic principles. It's
critical to understand that corporate compliance may be a critical core value for
stakeholders.

• ASSESS AND BENCHMARK COMPLIANCE- How does a company determine

whether or not it is compliant? Organizations can audit and verify compliance with
specified standards and procedures by enlisting the help of competent third-party
organisations. Documented evidence demonstrates the integrity of a compliance
programme and can be shared with stakeholders.
3.1 DISCUSS THE ECONOMICS OF ADOPTING A POLICY OF
ENVIRONMENTAL AWARENESS IN ORGANIZATIONS.
Increasing environmental concerns, strict rules and regulations, as well as public awareness,
have altered the global economic landscape today. Companies may play a key part in
attaining sustainability by developing and implementing relevant strategies and functions
such as green processes, product creation, energy conservation, and so on. Companies are
now effectively confronted with the challenge of environmental sustainability.

Companies that implement environmental policies go through three stages. From following
the laws of an environmentally friendly environment to controlling environmental risk to
formulating long-term strategy, there is a lot to consider.

An organization's dedication to the environment is expressed in its environmental policy. It

should bring all major stakeholders' environmental perspectives together: employees,
management, partners, shareholders, customers, and suppliers. It's one of the first stages
toward reducing a company's environmental impact.

Creating an ecologically conscious organisation starts with your employees, as it is critical

for them to believe in your vision and follow environmentally friendly behaviours in the
workplace. There are a number of simple and cost-effective steps your business can take to
minimise its carbon footprint and impact on the environment.

• Start a recycling programme

• Reduce energy use in the office
• Promote a paperless office
• Show your support for green businesses.
• Conserve resources by repurposing
• Save human energy.
• Encourage the use of environmentally friendly transportation
• Incorporate green thinking into your company's culture.

Companies must encourage environmentally conscious practises in the workplace to help

people feel healthier, more satisfied with the company and more motivated to thrive at work.
From promoting workplace wellness through a mindful and healthy office environment to
allowing the team members to think of the bigger picture, encouraging environmentally
conscious practises in the workplace will help people feel healthier. Above all, the value of
creating a lasting impression of your organization's environmental effect will last.
3.2 EXPLAIN THE ACTIONS THAT NEED TO BE TAKEN BY
ORGANISATIONS TO MAINTAIN THE ENVIRONMENT.
Increasing environmental concerns, strict rules and regulations, as well as public awareness,
have altered the global economic landscape today. Companies may play a key part in
attaining sustainability by developing and implementing relevant strategies and functions
such as green processes, product creation, energy conservation, and so on. Companies are
now effectively confronted with the challenge of environmental sustainability.

The environmental implications of Corporate Social Responsibility are addressed by

Corporate Environmental Responsibility (CSR). It is often defined as a method for businesses
to incorporate environmental concerns into their operations in order to reduce waste and
emissions, increase resource efficiency and production, and reduce activities that harm the
country's natural resources. The following are the areas of focus:

• Energy Efficiency and Savings

• Waste Management
• Transportation and Travel
• Procurement that is long-term
• Events those are environmentally friendly
• Systems for Environmental Management

Nowadays, environmental risk management is critical to an organization's success. It enables

them to carry out their tasks in an environmentally sustainable manner.

Embracing sustainable business practises is one major way that firms are appealing to
younger workers. According to studies, 76 percent of the millennial generation is "somewhat
to highly concerned" about the effects of climate change on the planets future. Businesses
that make a determined effort to mitigate such negative consequences can win over
employees and customers of all ages, not just millennial.

Here are eight steps to help your firm become known as an environmentally conscious
corporation;

• Provide filtered water

• Reduce paper waste
• Switch to LED light bulbs
• Allow telecommuting
• Improve air quality with indoor plants
• Turn off laptops
• Place recycling bins in general areas
• Reduce travel
 • Make your company more environmentally friendly

3.3 DESCRIBE THE MEASURES THAT EXIST TO IMPROVE

WORKPLACE HEALTH AND SAFETY PRACTICE.
Improving workplace health and safety is critical to making it better, safer, and more
productive. Workplace health and safety should be one of the most critical components of
running a business. The organisation is responsible for having processes in place to manage
the prevention of work-related injuries, accidents, and diseases. The importance of safety
must be understood by both managers and employees.

• Reward employees for safe behaviour

• Collaborate with occupational therapists
• Use labels and signs
• Keep everything clean
• Make sure staff have the correct tools and conduct frequent equipment inspections
• Encourage stretch breaks

It is your role as a leader to initiate programmes to detect workplace dangers, put measures in
place to reduce them, and promote workplace safety. Your health and safety programme
should be based on core techniques that work together to reduce the risk of accidents,
injuries, and fatalities that could have been avoided. You should include the following in your
health and safety plan:

• Conduct a workplace inspection

• Create a risk-based plan
• Communicate your plan
• Educate your workers
• Make health and safety a priority.
• Conduct investigations into incidents

Always advocate for the strategic need for investment in health and safety. It's about more
than compliance; you can work to build a company that prioritises health and safety, provides
training, and values feedback from employees. Safety should never be an afterthought; it
makes good financial sense to prioritise health and safety. After all, by implementing
initiatives to improve health and safety, you are safeguarding your most valuable asset: your
employees.
4.1 ANALYZE THE RESPONSIBILITIES OF ORGANIZATIONS O
IMPROVING WORKFORCE WELFARE.

A healthy work environment is one in which employees and employers collaborate on a

continuous improvement process to protect all workers' health and welfare while also
creating a long-term workplace.

The main problem in fostering a workplace culture that supports employee wellbeing is
that there are a variety of elements. As a result, it's critical to provide employees with a
variety of support alternatives to satisfy their diverse requirements and interests. This
means that businesses must take into account the following factors:

 HEALTH AND SAFETY ISSUES IN THE PHYSICAL WORK

ENVIRONMENT : Factors in the physical work environment can affect both
physical and mental health and welfare. The physical work environment of an
employee working outdoors or in a vehicle is that place. So, depending on the
situation, the place itself has particular risks that must be hidden, handled, or
controlled.

 PSYCHOSOCIAL WORK ENVIRONMENTAL HEALTH, SAFETY AND

WELFARE ISSUES : Employees may experience emotional or mental stress as a
result of their work environments psychosocial stress elements. Awards, time
constraints, abuse, intimidation, and the fear of losing a job are all examples.
Such situations must be addressed by reducing hazards and protecting personnel
by providing resources and emotional support, as well as strengthening
communications.

 IN-WORKPLACE PERSONAL HEALTH RESOURCES : These include a

suitable working environment and health services provided by the organisation
with the goal of motivating employees to live a healthy lifestyle. Long working
hours are one of the risks of note. The corporation should provide medical
services, provide access to nutritious food in the cafeteria, and prohibit smoking
to ameliorate these and other problems.

TO IMPROVE WELL BEING OF WORK FORCE

• Provide benefits to assist employee well-being

• Educate employees on financial issues
• Provide mental health help
• Foster a culture that supports individual team members
• Encourage employees to focus on their physical health
 4.2 COMPARE APPROACHES TO THE MANAGEMENT OF DIVERSITY
IN ORGANIZATIONS
For their diversity efforts, companies have varied ideas and techniques. Some approaches are
more valuable and have a greater influence on the company than others.

BRAND IMAGE AFFIRMATIVE CULTURE OF MAXIMIZING THE

ACTION ACCEPTANCE PERFORMANCE OF
ALL EMPLOYEES
DESIRED The focus of this The purpose of this This strategy aims to The goal of this
OUTCOME strategy is to approach is to build build a firm that method is to maximise
establish a brand a corporation where values and each employee's
image of a firm that people of all appreciates the performance by
values its backgrounds and diversity of its removing barriers that
employees' traits have equal workforce. limit their potential.
diversity. opportunities.
GOAL To be regarded as a To have a To raise awareness To increase each
leader in the field representative of and acceptance of individual's
of diversity number of differences in order productive output by
programming. employees in to reduce disputes, knowing their distinct
important roles improve qualities and
across the firm that performance, and overcoming whatever
reflects the allow each person to is preventing them
company's different attain their full from attaining their
demographics. potential. full potential.
INDICATOR With this strategy, The key to this The key to this When each individual
OF the emphasis is on strategy is to ensure method is to assist inside the organisation
SUCCESS getting the that the organisation everyone in the firm has attained the
company's name in has figures to prove in being more utmost degree of
the media, winning that it is diversity-conscious, performance to which
accolades, and affirmatively in becoming aware he or she is capable,
staying on top of offering of their personal this method has
people's minds so opportunities for views and actions, succeeded. This
that they accept individuals of colour and in changing their technique is
that the in terms of behaviour to provide successful when it
organisation is compensation, equitable raises a person's
diverse. promotions, and so opportunity that performance to the
on. fulfils the point where they are
requirements of viable prospects for
every employee. future promotions and
contacts, regardless of
their diversity.
ACHIEVING This approach to This is a It necessitates
THE diversity straightforward specialised rules, This strategy
DESIRED necessitates a method for dealing procedures, and necessitates effective
END strong marketing with diversity. All processes that foster management
RESULT and public relations that is required is the an environment that techniques that foster
component to identification of values and accepts a productive work
ensure that the viable employee, employee diversity. atmosphere in which
company's brand is vendor, supplier, and This acceptance all employees feel
prominently construction firm must also lead to safe, secure, and
displayed in all candidates who can opportunities for involved. It
relevant diversity be hired into key varied people to necessitates managers
forums. All one has management realise their full treating employees as
to do is discover a positions. Simply potential and take on people and
few compelling find the ideal new responsibilities implementing
diversity success combination of that they might not individual
stories to share, and people, mix the have had access to in development plans to
the organisation company, and recruit a less diversely ensure that each
will succeed in them, regardless of sensitive employee overcomes
establishing the their qualifications. organisation. obstacles.
appropriate brand
image.
4.3 COMPARE THE ORGANIZATIONAL APPROACHES TO ENSURING
POSITIVE POLICIES OF WORKFORCE DIVERSITY.

Workplace diversity refers to the wide range of variances that exist among employees in a
company. Diversity encompasses not only how people identify themselves, but also how they
are perceived by others. Race, gender, ethnic groups, age, religion, sexual orientation,
citizenship status, military service, mental and physical ailments, and other significant
characteristics between people are all examples of diversity in the workplace.

There are numerous advantages to working in a diversified environment. For starters,

companies who commit to hiring a diverse staff have a bigger pool of applicants to pick from,
which can lead to identifying more qualified individuals and cutting down on the time it takes
to fill open positions. Businesses that do not recruit from a variety of talent pools risk missing
out on competent individuals and may have a harder difficulty filling important positions,
resulting in higher recruitment costs.

Organizations may not only fill positions with competent candidates faster by recruiting from
a variety of talent pools, but a diverse workforce also enhances their employer brand, which
is critical when it comes to attracting top talent. Organizations that wish to expand or improve
operations in worldwide, national, regional, and local markets might benefit from having a
diverse workforce with multilingual employees and personnel of various ethnic backgrounds.

TIPS FOR MANAGING WORKPLACE DIVERSITY

• Prioritize communication
• Treat each person as an individual
• Encourage employees to work in a variety of groupings
• Set standards based on objective criteria
• Hire with an open mind

COMPARISON

Encouraging diversity is the way forward for organizations. In a global talent market,
businesses that can successfully manage diversity in the workplace will have a definite
competitive advantage over others in terms of differentiation, innovation, and employer
branding.
 BRAND IMAGE AFFIRMATIVE CULTURE OF MAXIMIZING THE
ACTION ACCEPTANCE PERFORMANCE OF
ALL EMPLOYEES
DESIRED The focus of this The purpose of this This strategy aims to The goal of this
OUTCOME strategy is to approach is to build build a firm that method is to maximise
establish a brand a corporation where values and each employee's
image of a firm that people of all appreciates the performance by
values its backgrounds and diversity of its removing barriers that
employees' traits have equal workforce. limit their potential.
diversity. opportunities.
GOAL To be regarded as a To have a To raise awareness To increase each
leader in the field representative of and acceptance of individual's
of diversity number of differences in order productive output by
programming. employees in to reduce disputes, knowing their distinct
important roles improve qualities and
across the firm that performance, and overcoming whatever
reflects the allow each person to is preventing them
company's different attain their full from attaining their
demographics. potential. full potential.
INDICATOR With this strategy, The key to this The key to this When each individual
OF the emphasis is on strategy is to ensure method is to assist inside the organisation
SUCCESS getting the that the organisation everyone in the firm has attained the
company's name in has figures to prove in being more utmost degree of
the media, winning that it is diversity-conscious, performance to which
accolades, and affirmatively in becoming aware he or she is capable,
staying on top of offering of their personal this method has
people's minds so opportunities for views and actions, succeeded. This
that they accept individuals of colour and in changing their technique is
that the in terms of behaviour to provide successful when it
organisation is compensation, equitable raises a person's
diverse. promotions, and so opportunity that performance to the
on. fulfils the point where they are
requirements of viable prospects for
every employee. future promotions and
contacts, regardless of
their diversity.
ACHIEVING This approach to This is a It necessitates
THE diversity straightforward specialised rules, This strategy
DESIRED necessitates a method for dealing procedures, and necessitates effective
END strong marketing with diversity. All processes that foster management
RESULT and public relations that is required is the an environment that techniques that foster
component to identification of values and accepts a productive work
ensure that the viable employee, employee diversity. atmosphere in which
company's brand is vendor, supplier, and This acceptance all employees feel
prominently construction firm must also lead to safe, secure, and
displayed in all candidates who can opportunities for involved. It
relevant diversity be hired into key varied people to necessitates managers
forums. All one has management realise their full treating employees as
to do is discover a positions. Simply potential and take on people and
few compelling find the ideal new responsibilities implementing
diversity success combination of that they might not individual
stories to share, and people, mix the have had access to in development plans to
the organisation company, and recruit a less diversely ensure that each
will succeed in them, regardless of sensitive employee overcomes
establishing the their qualifications. organisation. obstacles.
appropriate brand
image.