October 20, 2021
Introduction
The session was organised by the Academy of International Business (AIB). It addressed on issues related to digital globalisation mainly focusing on the revaluation of conventional role of foreign investment and Multinational Enterprises (MNEs) for sustainable development, potential impact of digital globalisation on Sustainable Development Goals (SDGs), the shift in the national and international policy space in current digital globalisation period and also on various policies mainly addressing the current need and demand of digital globalisation and also highlighted several opportunities and threats of it.
Issues to be addressed:
- Reassessment of the “conventional role” of foreign investment and MNEs for sustainable development,
- Potential impact on SDGs,
- The shifting national and international policy space in an era of digital globalisation, and
- Are there lessons from our international business research and evidence base to help identify smarter policies in light of opportunities and threats of digital globalisation
Session highlights
The Panellists discussed digital organisation as a global strategy which leads to rapid multinationalisation. Digital working environment is the new way that needs to be adopted by the multinationals in terms of developing their scale of work. Small companies are becoming major market players by using Internet of Things (IoT), robotics, and other technological devices in the post COVID-19.
The Panellists also highlighted the importance of reshaping of supply chains that can be done by adopting the technology that is required and necessary to process the operation of supply chains. Also new knowledge sources are required in order to accompany the changing world.
Discussion examined the importance of multinationals to invest in digitalisation and technological advances which requires digital friendly policies and procedures supported by the government. Investment in foreign markets is needed for growth of multinational firms, which can be easily achieved with the help of digitalisation and building new infrastructure or by developing the infrastructure of existing firms.
The Panellists also discussed the concept of technology for sustainability (Sus-Tech) where coordination of supply chains are necessary for achieving the sustainable goals. Furthermore, countries should invest in Sustainable Development Goals (SDGs) through Corporate Social Responsibility (CSR) to compensate for the negative externalities.
Opening
- Esther Tippmann, Professor, National University of Ireland Galway
On the panel were:
- Lucian Cernat, Head of Global Regulatory Cooperation and International Procurement Negotiations, European Commission
- Bernhard Dachs, Senior Scientist, Austrian Institute of Technology
- Rui Oliveira, Senior Lecturer, Queensland University of Technology
- Niraja Srinivasan, Director, NERA Economic Consulting
- Mr. Matthew Stephenson, Policy and Community Lead International Trade & Investment, World Economic Forum