Good Health and Wellbeing: An International Business Perspective

This blog post was written by Rachel, a Masters of International Business and French student. This blog post aims to provide readers with  knowledge of the positivity of Globalisation, and how Globalisation can improve health and wellbeing. Ultimately, exploring the role which International Business plays in the achievement of Sustainable Development Goal 3 - Good Health and Wellbeing. 

How does International Business contribute to the achievement of Sustainable Development Goal 3 - Good Health and Wellbeing? 

The globalisation of the world economy is a heavily researched topic. Globalisation is the process of which a region becomes more economically integrated with the rest of the world (Levitt, 1983). The key drivers of globalisation include the elimination of trade barriers, developments in technology, improved communications and transportations, global products and services, and global competition (Hill, 1997; Levitt, 1983; Yip, 1989).  

Some studies have argued that globalisation can negatively impact a country’s quality of life, for example, by the elimination of jobs particularly within the manufacturing sector. However, other studies have contrasted the ideals of negativity, and have suggested that although globalisation is causing a number of complex changes in our society, there is the addition of new positive opportunities for all. Due to increased marketing integration, there is an opportunity to increase productivity and wages for workers, which subsequently leads to an improved quality of life for workers (Zoellick, 2001). 

 

Additionally, an increased economic growth can further be linked to an enhancement of improvements in health care. Due to an increased knowledge from other countries, and technological advancements this can allow for further improvements in the treatment and prevention of illnesses and diseases (Sirgy et al., 2004). 

 

Furthermore, there have been increasing global efforts to achieve widespread food security. Globalisation has contributed to food security by creating an enhanced knowledge within foreign nations of the usefulness of food aid. Additionally, globalisation can increase food security in regions who may suffer from food-shortages due to worldwide implementation of technological advancements and improved knowledge. Furthermore, research on genetically modified food can contribute to the aid of regions who suffer food-shortages and allow solutions (Sirgy et al., 2004).

 

Moreover, globalisation can lead to an increased water security due to the facilitation of the worldwide implementation of technological advancement and better knowledge. As the natural resource base for water is becoming continually threatened due to the impact of climate change and deforestation, ecosystems become continually threatened and in turn so does the opportunity to produce sufficient amounts of clean safe water (Sirgy et al., 2004). 

 

Overall, the benefit of globalisation is clear with the development of knowledge in the countries where it operates, and advancements in technology there is a clear correlation between advancements in healthcare, and an increased water security. However, it is important that we consider the numerous factors which can also contribute to improving our health and wellbeing. For example, Sustainable Development Goal 3 cannot truly be conquered without achieving other sustainable development goals, for example, sustainable development goal 6 clean water and sanitation must be achieved to ensure water security, however this impacted by sustainable development goal 13 climate action. The sustainable development goals are truly interlinked with one another. 

References List: 

Hill, C.W.L., 1997. International Business: Competing in the Global Marketplace (Irwin, Chicago, IL).

 

Levitt, T., 1993. The globalization of markets. Readings in international business: a decision approach, 249, pp.249-252

 

Sirgy, M.J., Lee, D.J., Miller, C. and Littlefield, J.E., 2004. The impact of globalization on a country's quality of life: Toward an integrated model. Social Indicators Research, 68(3), pp.251-298.

 

Yip, G.S., 1989. Global strategy... in a world of nations. Sloan management review, 31(1), pp.29-41.

 

Zoellick, R., 2001. Remarks at the national foreign trade council, July 26.