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Write a paper (1,250–1,500 words) that discusses the following questions through your research and analysis on the effect of the rule of law and ethics on the economy in one of the three countries you previously selected in the Topic 2 globalization presentation assignment.Using the country and socioeconomic problem you selected in Topic 3 Impact of Emerging Technology on the Economy of the Country assignment, identify the current legal system (civil, common, religious, or mixed) in that country. Describe the influence that colonization had on the formation of the current legal system.As an entrepreneur within the country, identify how a product or service can resolve the socioeconomic problem in that country. Analyze this product or service through the specific steps of a market screening. Evaluate two international market entry methods for the product or service in the country. What are the advantages and disadvantages of each method?Taking into consideration the cultural, societal, and religious values, provide examples of effective and ineffective advertisement practices you would implement to introduce the product or service into the country. Explain your reasoning.For the selected product or service, recommend at least two legal compliance approaches that should be used by companies when conducting international business in the country (e.g., employment law, tax law, advertising law, corporate law).For the selected product or service, provide two key recommendations to consider regarding ethics and social responsibility in your selected country (e.g., intellectual property, competition, corruption).You are required to include a minimum of three scholarly sources with in-text citations and references.
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Globalization and Economic
Development: A Comparative
Analysis of India, South Africa,
and Brazil
By: Jakeshia Hand
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Introduction
India: Situated in Southern Asia, India boasts diverse landscapes
and a rich cultural heritage.
South Africa South Africa – originally founded in 1948 and located
in the Southern part of Africa has unique wildlife, as well as its
history.
Brazil: South America is home to Brazil, which was known for its
boisterous carnival, the Amazon rainforest and vigorous culture.
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Colonization Impact
India: The economy, society, and culture of India were profoundly
affected by the process of British colonization, which has had an
obvious impact on its development.
South Africa: The socio-economic structures shaped by European
colonialism, particularly the apartheid era, influenced the history of
this nation (globaledge, 2018).
Brazil: As a result of Portuguese colonization, indigenous cultures
in Brazil were affected along with the formation of economic systems.
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Globalization Dimensions
India: Economic globalization propelled the ascension of India’s IT
industry. Open market policies and cultural exchange were political six
sociocultural dimensions.
South Africa: The chips of apartheid tumbled to open economic growth.
League of Nations, political and sociocultural aspects were influenced by
global diplomatic relations as well as cultural diversity.
Brazil: Brazil’s agricultural exports are evidence of economic
globalization. Political influence, as well as global cultural exports,
demonstrate its value in the world arena.
Pros and Cons of Globalization in
Business
India: Pro – The IT industry is booming; Con- Income disparities
negate inclusive growth.
South Africa: Pro – International market opportunities availability;
Con – Employment loses perspectives after globalization (TEKBAŞ,
2021).
Brazil: Pro, Geographically agribusiness causes economic
developments; Con Other societies are concerned by the fact of
globalization.
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Multinational Corporation (MNC)
– India
MNC: Infosys
Justification: Entered India for IT outsourcing, tapping into the
country’s skilled workforce.
Challenges: Upon setting the grounds, they encountered the first
hurdles between cultural variations.
Opportunities: Infosys has an open market at the global level;
hence, their business implemented more strength.
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Multinational Corporation (MNC)
– South Africa
MNC: Anglo American
Justification: Entered for mining, leveraging South Africa’s
abundant mineral resources (Cerna & Czaika, 2021).
Challenges: Faced labor disputes impacting operations.
Opportunities: Successful resource extraction boosted the
company’s global standing.
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Multinational Corporation (MNC)
– Brazil
Justification: Brazil for aerospace, taking advantage of their
aviation potential.
Challenges: Competed in the aerospace market globally.
Opportunities: The global market expansion boosted Embraer’s
business in the realm of aerospace.
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India – Multilateral World
Organizations.
Organizations: BRICS and WTO
Effect: Economic cooperation in BRICS and WTO trade agreements.
Global influence: India’s impetus behind international policies on the
economic front.
Diplomatic engagement: Involvement in multilateral organizations
improves India’s diplomatic relations.
Trade impact: Trade and economic growth in India are positively affected
by collaboration both as a member of BRICS international organizations or
even participation within WTO.
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Multilateral World Organizations –
South Africa.
Organizations: African Union (AU) and United Nations (UN).
Effect: Diplomacy, the maintenance of peace.
Influence on African diplomacy: Regional ties are enhanced
through active participation in AU (Black et al., 2020).
Peacekeeping role: Presence in the continent conflict solving.
Global collaboration: UN involvement by South Africa is translated
to international collaborations.
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Multilateral World Organizations Brazil
Organizations: G20 and Mercosur
Effect: Economic cooperation and regional trade integration
Global economic influence: Brazil’s contribution to G20 dialogues
regarding economic policies (TEKBAŞ, 2021).
Regional trade cooperation: Membership in Mercosur encourages
economic relationships in southern America.
Trade alliances: Effects of Mercosur on Brazil’s trade policies and market
liberalization
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Free Trade Agreements and
Trading Blocs – India
Agreements: SAFTA and RCEP.
Effect: Regional economic integration and opened market
NAFTA’s impact: Promoting intraregional trade amongst South Asian
countries
RCEP’s significance: Economic integration with Southeast Asian
countries (Cerna & Czaika, 2021).
Market expansion: Benefits for Growth and Diversification of Indian
Economy.
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Free Trade Agreements and Blocks
– South Africa
Agreements: SACU and SADC.
Effect: Trade cooperation and economic regional integration.
SACU’s role: Enabling trade among the member states of the customs
union
SADC’s impact: Development of economic activities and, as a result,
cooperation among Southern African States (Black et al., 2020).
Trade benefits: Boosting South Africa’s advantages in the regional
market.
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Free Trade Agreements and Blocks
– Brazil
Southern Common Market (Mercosur) and Latin American Integration
Association (ALADI)
Effect: Regional economic harmonization and strengthened Latin
American relations (globaledge, 2018)
Mercosur’s role: Promoting inter-South American trade
ALADI’s influence: On inspiring economic collaboration in Latin
America.
Economic benefits: Enhanced regional trade and market access for Brazil
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Statistics for trade in India
Trade Partners: USA, China
Major Exports: Information technology services, pharmaceuticals.
Major Imports: Oil and electronic equipment.
Exchange Rate Impact: Impact of currency fluctuations on IT
services exports (TEKBAŞ, 2021).
Economic implications: Trade balance is one of the factors taken
into consideration and an accompanying policy adjustment.
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Trade Statistics- South Africa.
Trade Partners: China, USA
Major Exports: Minerals, precious metals.
Major Imports: Machinery, vehicles
Exchange Rate Impact: Effect on exports of minerals and imports
for manufacturing.
Economic considerations: The balance of trade and export
diversification has been mentioned.
Statistics of trade – Brazil
Trade Partners: China, USA
Major Exports: Food and Agricultural products, iron ore.
Major Imports: Machinery, electronics
Exchange Rate Impact: Influence on agricultural exports and
industrial imports.
Economic considerations: The trade balance and its impact on
Brazil’s economy
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Conclusion
Chose India, South Africa, and Brazil for their diverse geographical locations and
significant roles in global economics.
Globalization shaped India, South Africa, and Brazil, impacting economic
development and trade dynamics.
Sectors like IT, mining, and agriculture fueled economic expansion in these
diverse nations.
Participation in multilateral organizations and trade agreements demonstrated
global interconnectedness.
India is the largest global democracy, South Africa is home to the Big Five in
wildlife, and Brazil houses the Amazon, the world’s largest tropical rainforest.
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References
Black, A., Roy, P., El-Haddad, A., & Yilmaz, K. (2020). The political economy
of automotive industry development policy in middle income countries: A
comparative analysis of Egypt, India, South Africa and Turkey.
Cerna, L., & Czaika, M. (2021). Rising stars in the global race for skill? A
comparative analysis of Brazil, India, and Malaysia. Migration Studies, 9(1),
21-46.
globaledge. (2018). globalEDGE. Msu.edu. https://globaledge.msu.edu/
TEKBAŞ, M. (2021). The impact of economic, social and political globalization
on economic growth: evidence from BRICS-T Countries. Gaziantep University
Journal of Social Sciences, 20(1), 57-71.
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The Transformative Impact of Telemedicine on India’s Socioeconomic Landscape:
Addressing Healthcare Disparities and Fostering Sustainability Practices
Jakeshia Hand
Grand Canyon University
BUS-390 Global Business
Instructor Jonathan Hochberg
2/14/024
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The Transformative Impact of Telemedicine on India’s Socioeconomic Landscape:
Addressing Healthcare Disparities and Fostering Sustainability Practices
The urgent matter needing to be resolved in the complicated web of diverse India’s socioeconomic panorama is the widespread shortage of decent healthcare facilities, more noticeably in
the country’s backward hinterlands. It is the case that this challenge predominantly affects the
less privileged population that dwells in remote geographical locations where even the health
facilities or their absence is at their worst. The latter socioeconomic costs are also severe,
involving weakened health conditions, impeding economic productivity, and forming an intricate
web of barriers to socioeconomic improvement. The new technologies, particularly telemedicine,
offer a hope of creating change against the complex socioeconomic environment of the present.
This study comes in to critically investigate whether technology can be a way of solving the
issue of poverty.
This socioeconomic issue currently at the nerve center of the given analytical piece is the
dilemma of inadequate quality healthcare in India, especially in rural areas. It is one of the vital
issues that many people are facing. Not having enough healthcare centers might significantly
affect health results, and some people might not get treatment. The subject-specific ones,
predominantly of low-income individuals, fall prey to a continued struggle where access to
immediate and gratifying medical services is no longer a privilege (Bhojak et al., 2023). This
problem has an impact that varies by location, with the most pronounced harm evident in the
hard-hit rural areas, which are poorly equipped in terms of the healthcare facilities provided. The
socioeconomic expenses emerging from the affected people are manifold, involving issues from
health and productivity declining to the elevation of economic expenses caused by the increased
medical-related expenditures.
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Telemedicine sounds like a new call to provide healthcare service, which brings light to
the problems of access to healthcare, which would otherwise be an overwhelming challenge. In
essence, telemedicine includes all digital technology tools to eliminate space, allowing access to
remote and distant patient consultations and diagnostics (George & George, 2023). This is a
result of the approach that has great potential, promising to bring in a paradigm shift, making
high-quality healthcare services accessible to the residents of remote and underserved regions. It
overcomes those barriers caused by physical distance; hence, telemedicine is an effective
measure to address the problem of lack of healthcare access.
The application of telemedicine has its difficulties. The initial costs to build a robust
telemedicine infrastructure, including the infrastructure renewal expenses, are a plausible
financial deficit. The financial dimension requires considerably pondering and elaborating on the
sustainability of telemedicine initiatives effectively. Also, attaining fair access to technology in
the most remote areas is affected by proactive investments in training healthcare providers and
cultivating digital literacy among affected people (Roy et al., 2023). It is the bridging of the
digital divide that becomes inevitable to unlock all the potential uses of telemedicine and ensure
that all of its benefits reach everybody of the national location and social class. In this sense, the
potential of telemedicine is immense and revolutionary. Still, a comprehensive approach that
tackles both financial and human factors underlying the digitalization of the health sector is a
must to enable the implementation of telemedicine.
Applying the hype cycle and the 6Ds of the disruptive technology model can illustrate the
evolving roles of telemedicine in the coming years. These seeming illusions are anticipatory as
such technology fluctuates between hyperbolized and denigrated. Nevertheless, with time, the
field will encounter a willful disruption of traditional healthcare delivery caused by
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virtualization, dematerialization, and digitalization, to mention a few groups. The 6 Ds model
grounds its foundation on a paradigm shift encompassing digitization, deception, disruption,
dematerialization, demonetization, and finally concludes with democratization. With these steps,
in the end, telemedicine could make adapting to the new pattern of healthcare services more
accessible, affordable, and effective.
Telemedicine gets attention not just as a solution to cure disparities in healthcare but also
as an initiator of sustainability to have pro-environmental behavior. It encourages patients to stay
at home instead of visiting healthcare institutions by decreasing the total volume of trips and
contributing to reducing greenhouse gas emissions, which aligns with the idea of environmental
sustainability (George & George, 2023). Additionally, democratizing services is why more
expansive areas of the population could reach medical services to protect social equity. De facto
telemedicine will be the change that triggers the transformation. It will ensure that every aspect
of healthcare is aligned with the ultimate sustainable goals, and a healthcare delivery system will
be generated.
The MNCs with both deep-pocketed capital and technological expertise stand in an apt
position to act as catalysts for restructuring India’s healthcare systems. Merely the tactical
execution of telemedicine would be an essential factor enabling these corporations to become
engines of change as they tackle the existing health crisis. The MNCs can team with local
healthcare providers and spearhead the projects that entail building telemedicine infrastructure in
the currently under-served areas, mainly in the geometry of remote and economically
disadvantaged communities. This collaborative process guarantees a coalescence of the most
advanced global technological know-how with local medical practices, providing a platform for
inclusivity and more effective healthcare delivery worldwide.
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As a result, before one is ready to take such a step, there is a need to realize the starting
capital and continual operational expenditures in setting up the telemedicine infrastructure.
However, the future benefits are mind-boggling. Health promotional programs through telehealth
provide the prospects of better health outcomes, inclusive accessibility of healthcare services,
and promotion of sustainable healthcare that, as a whole, creates a strategy for mitigating health
disparities (Bhojak et al., 2023). The social impact of MNCs implementing telemedicine
solutions is not the only one that MNCs embrace this technology with the view of sustainability.
The MNC’s strategy is to accept social responsibility and commit to environmental upkeep. The
change these initiatives set to bring about goes much beyond simply doing good; as a whole, an
approach is adopted where corporate entities use their power, knowledge, and assets to attain an
implanted healthcare ecosystem that is efficient, equitable, and more sustainable in India.
In conclusion, innovative techniques, e.g., virtual medicine, have the power to deal with
Indian medical problems in a revolutionary way that cannot be doubted. Implying costs that are
inevitable at the initial stage, long-term benefits related to better health outcomes, productivity,
and sustainability render this proposition even more compelling. The Indian economic
environment, dominated by multinational giants, offers a platform for a prime role in
accelerating the process of telemedicine adoption by investing in or supporting the same.
Through such actions, corporations not only uplift the living conditions and level of economic
development in India but also become a driving force for sustainable development, playing the
role of change-makers in India’s complicated social and economic background. The forward path
implies teamwork using innovative approaches, such as making technology-based progress for
people’s health and addressing the issue of equity and eco-system protection.
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References
Bhojak, N. P., Patel, S. N., & Momin, M. K. (2023). Digital Healthcare and Patient Transformation:
Review Research and Future Agenda. Fostering Sustainable Development in the Age of
Technologies, 163-185.
George, A. S., & George, A. H. (2023). Telemedicine: A New Way to Provide Healthcare. Partners
Universal International Innovation Journal, 1(3), 98-129.
Roy, A., Mitra, A., & Soman, B. (2023). Public health in India: Leveraging technology for a
brighter future. OPINIONS IN Medical Sciences, Technology and Health, 1(2), e23014e23014.
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