Business Ethics and International Business - 3026 Words

QUESTION : Business and Ethical practices/Issues in International Business and the role of Multinational enterprises (MNEs) Introduction to Business and Ethics The ethical-related issues have represented the foundation of different religions and life styles. Ethics can be found in all aspects of human activity as the individuals have been preoccupied with the quality of their behavior towards the people around. Even if they do not purposefully intend to improve their relations with the others, people always evaluate their behavior from the point of view of their correctness. Nowadays, consumers and pressure groups appear to be increasingly demanding firms to seek out more ethical and ecologically sound ways of doing business. The†¦show more content†¦The goal for companies in this case is to lower their overall cost structure or improve the quality or functionality of their product and gain competitive advantage. International Business Ethical Practices As companies expand their operations across the globe, new trends and issues arise daily that could create burdens to organizations. The need for international business ethical practices within organizations has become critical in day-to-day operations and in avoiding legal issues. With public scandals and misleading practices companies have affected the public’s views and opinions of many organizations. Implementing strategies such as codes of conduct guides multinational organization in the efforts of following ethical standards. When ethical norms are in conflict, owning different cultural practices, ethical norms guides businesses conduct in other nations and cultures .Pointing that ethical aspect of employees’ conduct has an overall impact on the productivity of an organization. For organization to improve the ethical climate, management must communicate proper ethical awareness throughout the organization by offering training, courses codes of ethics and reward program. Also management should appoint an ethic officer and ethics committee that could supervise the implementation of ethics policies These are a few methods that an organization can employShow MoreRelatedEthics in International Business842 Words   |  3 PagesEthics is an incredibly important aspect of domestic business. Companies and their employees need to be mindful of their decisions and actions, and how they affect others. But when business is taken to the international and global level, being conscious of ethics becomes absolutely vital. In order to be successful long-term, ethical practices must be followed, as well as having a level of social responsibility. Companies or individuals who do not have a laid-out, defined set of values may findRead More International Business: The Importance of Ethics in Business1636 Words   |  7 PagesInternational Business The business world has always relied heavily on contractual agreements while conducting business. These contracts while written in ink, are set in stone. Once your business partner signs his/her name on the dotted line the pact has been sealed and nothing else needs to be said. But what happens when you take away the physical contractual element and everything is agreed upon through ones word? The world of business ethics is an old discipline in most parts of the worldRead MoreImportance of Ethics in International Business1541 Words   |  7 PagesImportance of Ethics in International Business Executive Summary Ethics in the business world is important and global. Ethics  indicate what is right and what is wrong in  business branches and also lead employees and stakeholders with moral values. Due to the globalization of markets and production processes, business people have to deal with ethical issues in cross-cultural settings at an increasing number. The purpose of this paper is to explain the importance of international business, emphasiseRead MoreEthics and International Business Essays2084 Words   |  9 PagesEthics and International Business: Finding the Lesser Evil At the beginning of this course it was made apparent that the class was not meant to be a monologue by the instructor but a discussion. From the numerous discussions held in class, I have come to the belief that ethics in international business was the most significant topic discussed in this course. Ethics in international business and the outsourcing of labor is a prevalent issue that affects not only the United States and our nationsRead MoreBusiness Ethics Of International Business : Culture, Consumers And Employees1152 Words   |  5 PagesCourse: INB385 International Business Date: October 11, 2015 Response to Ethical Challenges in International Business: Culture, Consumers and Employees Introduction General business ethics applies in the case of international business. However, international business ethics poses a particularly different difficulty- from domestic business- as a result of the scope of diversity that managers have to deal with: cultural, economic and legal, etc. Although the contents of business ethics are to an extentRead MoreEthics Codes And The World Of International Business1404 Words   |  6 PagesEthics or what it is sometimes known as moral philosophy is an idea that involves the decision or right or wrong conduct. Ethics play a very vital role in any business and especially in the world of international business. In an international business setting the set of ethically right doings expands greatly due to a particular countries ethics standards. Not all ethics standards are the same especially when dealing with countries across the seas from the United States of America. Due to differentRead MoreEssay about Ethics in International Business1657 Words   |  7 Pages Ethics in International Business Abstract International business ethics challenges the corporate world to deal with questions of what to do in situations where ethical standards come into conflict as a result of the different cultural practices in the nation. Since, there is this dilemma that has progressively troubled the large multinational corporations, international business ethics has arisen to help address these adhesive subject matters. There are several international business ethicsRead MoreThe Role Of Ethics And Culture On An International Business Environment1508 Words   |  7 PagesAbstract Geert Hofstede is one of many sociologists that studied and emphasized the importance of ethics and culture in an international business environment. He contended how the culture of the leaders and staff can help one to determine the achievement or ineffectiveness of that business. Rue Byars described leadership as an ability to influence people and willingly follow one’s guidance or adhere to one’s decisions (Rue, Byars, 2009). The most successful CEO’s and leaders have a well-definedRead MoreSocial responsibility and Ethics in International Business Essay1392 Words   |  6 PagesGlobal awareness Global awareness has become an essential proficiency in international business. In order to become globally aware, the managers of firms must be accepting of cultural differences, understand the culture, have an understanding of global economics and recognize the political trends (Cateora, Gilly, Graham, 2013). A majority of problems chanced upon are the outcome of the oddness of the surroundings the organization will be operating in the host country. Additionally, as describedRead MoreInternational Business Ethics And Ethical Issues Within International Organizations1113 Words   |  5 Pagestopic of discussion that may, or may not affect your opinion within international organisations. Do you believe international business encourage firms and organisations to become socially responsible and ethical global citizens? What I am here to tell you today is that with the correct organisational procedures, internationally renowned businesses are able to become socially responsible an d ethically recognised. However when international organisations have unseemly and immoral behavioural standards,