Essay Example: Economic Growth and Social Development in Developing Countries

For a developing country to expand regarding economic growth and social development there should be a very efficient ethical responsibility in the country or by other developed countries. The idea of ethical responsibility in developing countries need to be improved since these countries are the most expanding economies, encounter most environmental and social crises and all their business activities have the most dramatic impacts. Because of this significance, most developing nations are trying to invest much in the literature of ethical responsibility (Juscius & Snieska, 2015). Economic growth and social development are therefore till hard to be achieved in developing countries because developed nations do not have the ethical responsibility to contribute to it.

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Global management implies to changing both government and companies roles (Lasserre, 2012). Both economic growth and social development are enhanced by a strong ethical responsibility where there is a crucial role played by the government and companies as well. The most important step towards economic growth and development is ensuring that all the laws are being adhered to by all. For instance, governments play the role of ensuring that there are adequate laws governing labour and are being enforced to the later (Koestoer, 2014). Also, they ensure that there are appropriate inspections systems of labour. Similarly, companies also have built labour laws through the labour unions and are always working to their best to ensure that all the rights of workers are being projected. All these laws are aimed at improving social development among all the citizens as well as the specific countrys economic growth.

In the African region, for instance, the literature on corporate social responsibility relies mainly on the business ethics of the region, where most journals that have been produced ethics focused. This fact arises because in Africa most ethical debates have been historically designed based on apartheid, colonialism, and prevalence of fraud and corruption. Most of the pre-1994 Africans literature focused on ethical investment issues that related to the apartheid regime. Because of this, the philanthropic and economic issues will go on dominating in the practice of corporate social responsibility in Africa rather than ethical and legal responsibilities.

South Africa is the best example of the countries in the African continent whereby the idea of ethical responsibility in global management is very evident. The most driver of ethical responsibility that enhances economic growth and development in this nation is the cultural tradition. Both South African government and the companies have framed very active business cultures and customs. The most efficient customs that have improved global management in South Africa include making appointments in advance as far as possible. There is also the culture of providing business cards for everyone, maintaining eye contact and shaking hands. This idea fosters trust and unity thus enhancing social development and economic growth.

Other cultures that have also contributed to economic growth and social development in South Africa are keeping presentations short, patience and no interruption and meeting before that discussing business matters over the phone. These cultures hasten economic growth and social development since they ensure that every issue is discussed clearly without any preservation. There are also the customs of being respectful of women and maintaining a win-win situation. These customs ensure that every individual is offered the respect they deserve and individuals cooperate in working towards attaining the goal of winning. These cultures have improved economic growth in South Africa especially regarding infrastructural development. Political reform is also a driver towards the achievement of business ethics and social development.

Another region where there is some self-developed ethical responsibility that contributes significantly to economic growth and social development is the Latin American. The responsibility agenda in this region has been majorly framed by the political and socio-economic conditions that have aggravated problems like unemployment, inequality, crime and unemployment. Ethical responsibility of developed nations is, therefore, the hope of a positive change among the Latin Americans in the face of corruption, economic stagnation, poverty, corruption and environmental degradation.

Economic growth and social development in this region are driven by cultures and values whereby religion is among the primary motivators. Also, the regions various values of solidarity and community self-help date back to the pre-Hispanic culture and are aimed at fostering social development as well as economic growth. The two drivers ensure that the recommended ethics and social behavior that enhance social development and economic growth are adhered to.

Developed countries do not have sufficient ethical responsibility to contribute to social development and economic growth of the developing nations that is why the progress of ethical responsibility is still not a rule but an exception. The reason for this is that most of the developing countries are usually ranked poorly as far as the issue of ethical responsibility is concerned. Several studies have shown that the problem of corruption still affects the social development and economic growth of these nations to a larger extent. Maybe with the help from developed countries governments and their companies, the developing countries will be able to improve both their economic growth and social development.

References

Elliott, J. (2012). An introduction to sustainable development. Routledge.

Juscius, V., & Snieska, V. (2015). Influence of corporate social responsibility on competitive abilities of corporations. Engineering Economics, 58(3).

Koestoer, Y. (2014). Corporate social responsibility in developing countries.

Lasserre, P. (2012). Global strategic management. Palgrave Macmillan.