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Your Turn "The Tragedy of Good Intentions" In an article that discusses globalization, the November 26th issue of Fortune magazine notes that "poor nations have not appreciated" the efforts of anti-globalization proponents work- ing to protect these countries from exploitation. However, not everyone believes that this argument is sound. In fact, KishoreMahbubani, Singapore's representative to the United Nations, tells Fortune, "Those who are pushing for labor standards are actually damaging the developing countries they are pur- porting to support." They are vic- tims to what he describes as "the tragedy of good intentions." His comments bring into sharp 11th world, we have been made more conscious that for some in the world, "globalization" is synony- 62 proven way to improve the lives of people in less developed areas of the world is to introduce elements of market capitalism that create the goods and services, the jobs, and the higher levels of income that help propel poor economies and lift the standard of living for their people. And while there have been abuses, it is difficult not to support responsible and balanced internationalization of supply, plant sourcing, and markets in our shrinking world. However, in a post-September relief the current debate about eco- nomic globalization. Some argue thatWestern companies investing in ThirdWorld countries are exploiting cheap labor, ravaging natural resources, or eliminating high-paying jobs in theWest—all driven by corporate greed. Others argue that the only by Louis E. Lataif mous with "American imperialism." This may be less an objection to Western capital invest- ment that creates jobs, goods, and services, than it is an objection to Western social values—American films, music, sexual mores, manners, dress codes, insensitivity to local cus- toms—which are seen to accompany such investment. This realization places a new chal- lenge before management education institutions. We are compelled to gain a heightened understanding of the benefits and risks of responsible globalization, and communicate that understanding to our students. We are compelled to cultivate an ONE OF THE OUTCOMES OF THE SEPTEMBER 11 TRAGEDY SHOULD BE THAT SCHOOLS OF MANAGEMENT BETTER MEET THE CHALLENGES THAT GLOBALIZATION PRESENTS TO THEM. schools of management have a seri- ous reponsibility to educate man- agers from throughout the world about all the implications of free and fair trade. This responsibility includes building an understanding of the national economic and regulatory policies that attract foreign invest- ment and of the social responsibilities of investing companies. Although schools of management have long promoted international curricula, we have not perhaps suffi- ciently promoted international BizEd MARCH/APRIL 2002 increased sensitivity to cultural and social issues in our students. Now more than ever, international the social costs of foreign investment must be included in business school curricula in a meaningful way. Similarly, we need to find ever more effective ways to educate manage- ment professionals about the varied cultural norms and expectations that confront companies doing business outside their home countries. Our students must be educated to under- stand and assess the "country risks" associated with overseas invest- ment—i.e., the stability of a govern- ment (and by extension, its curren- cy), the regulatory environment, and the impact of nongovernmental organizations in a society. Developing and incorporating more international cases into man- Weyerhaeuser, DuPont, and 3Mhave developed global health, safety, and environmental standards for their operations.Motorola has instituted an Ethics Renewal Process to insure that its business code of conduct is implemented worldwide. In recent years, Shell Oil andMobil Oil have made special efforts to be sensitive to environmental issues in their drilling operations. For example, these two companies strive to make the smallest possible industrial "footprint" in bio- logically diverse areas in Peru. To do so, they treat each project in this area as if it were an off-shore exploration, flying in all the equipment and per- sonnel rather than building roads or otherwise disturbing the environ- ment any more than necessary. Likewise, an understanding of For example, companies such as awareness. In this we might learn from a number of companies that are beginning to come to grips with the "social costs" of busi- ness decisions.