Journal of Business Ethics Essay Example | Topics and Well Written Essays - 250 words

Journal of Business Ethics - Essay Example Some argue there is little evidence that the UNGC vision, an economy with the human face, can be realized for the poor and developing nations with economic globalization. Many do not agree with the assumption of the Global Compact that globalization in its current form can be made sustainable and equitable, even if accompanied by the implementation of standards for human rights, labour, and the environment because they are well aware that many corporations would like nothing better than to wrap themselves in the flag of UN in order to blue wash their public image. Williams argues that they should respond to any criticism of their practices and discuss corrective action where necessary. As indicated â€Å"We expose the reality in a field too often dominated by rhetoric and help protect vulnerable people and communities against abuses†. The second group of critics is not focusing so much on the mission of UNGC but rather on the fact that the initiative is housed in the UN. There were fears that businesses would become too dominant in the organization. Williams responds that the background of this criticism is important because the UN had no close relationship with the private sector and in the 1960s this was amplified as many developing countries moved away from their colonial masters and became independent, As indicated â€Å"The UN served as a countervailing power for developing countries who understood multinational companies to be partially responsible for their slow economic and human development†.