Business Ethics Of International Business : Culture, Consumers And Employees

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

Ethics in business addresses the ‘right’ and ‘wrong’ behaviours of business practises, and how these practices impact the employees, shareholders, the general public and the environment.

This being despite the recession of 2008, we are witnessing an increasingly cooperative and sophisticated international business working environment. While it faces scrutiny in congress currently, the agreement of the Trans-Pacific Partnership treaty was reached in October, 2015; the Transatlantic Trade and Investment Partnership treaty is also seemingly achievable with the revival of American economy in the near future. These new agreements will set up a worldwide business rule structure that will be fulfilled by many major economies. Within this new structure, businessmen and women will face ethical issues globally despite continuing cultural and regional factors still playing a big role within these issues and decisions being made. Learning and analyzing business ethical issues within the case competition will not only assist us to become global business leaders with a deep understanding of corporate social responsibilities but also prepare us to make better decisions for our

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

Ethics must be global, not local. In order to build a truly great global business the leaders need to bring forward a global standard of ethical practices.

The first article I would like to elaborate on would be one about business ethics in Singapore. This country has the reputation of being very strict in nature and sometimes unforgiving in the consequences that they often give to people. Over time they have loosened their grip on social matters but still seem to be strict in their manners of business. They follow through with business transactions and promote all around good ethics in business as a normal practice. This article explained the results of a survey that was completed in January 2010, by companies that were members of the Singapore

The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.

Ethical standards in business are important for every leader to know and understand. The book Ethics 101: What Every Leader Needs to Know by: John C. Maxwell discusses ethics in the world today. When people make unethical choices, the reason they do because of three main pitfalls. People do what is most convenient to them, people tend to do what they must do to win, and people rationalize their choices with relativism. In this summary, Maxwell’s definition of business ethics will be framed, examples of ethical standards and guidelines, the meaning and contrast of ethical thinking and ethical behavior, and how to avoid these major pitfalls to live an ethical life. The

(Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.

“The first step in the evolution of ethics is a sense of solidarity with other human beings”(Schweitzer et al., 1965) as quoted by Schweitzer, it is fundamental to work in harmony, and cohesion in order to yield moral adequacy. For a business to be considered ethical, it must perform ethically, meaning to be responsible for addressing and adhering to key moral principles, and abiding by societies deeply held values, such as; honesty, equality, justice, and rights. The ethical foundation of a business determines the future of its aptitude for success and is primarily built on trust and human decency. Although, if these ethical guidelines are not considered in a business place it often leads to ethical dilemmas, such as fraud and bribery. This is evidently presented in the French company Poly Implant Prothése, that produce silicone breast implants worldwide. This company’s actions demonstrated a great absence of moral integrity and professional confidence and due care by fraud and deception of their shareholders.

In a globalized market, where profits can be maximized, lenient regulations are expected, and with environmental oversight, global managers are often faced with making ethical decisions. According to Satterlee (2014), “Ethically speaking, one of the most important issues global business professionals may face is that of being socially responsible in the cultures in which they choose to do business” (p. 52). In Chile, with an open-market and being ranked 22 out of 177 on corruption, ethically conducting business is important to the business professionals: to continue to grow a thriving diverse economy and to reduce poverty levels and to enrich the lives of the people (Albuja & Merino, 2017). It is noteworthy to mention that corruption in

Today’s business world presents numerous ethical issues. In today’s world above board/moral ethics in organizations do not often materialize intuitively. Organization must strive to provide employees with a clear understanding of the overall company vision. This will aid employees in practicing the code of ethics, policies and procedures in the workplace. Companies must be unwavering in continuously delivering the uppermost ethics of provision in which customers, applicants and employees are entitled to under fair business practices. One major core value is to uphold responsible and fair business practices.

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 ethics discussions on the question of how to act in the home country as opposed to the host country is at the central point of most international corporations. The argument in question is how companies should practice their business according

Many ethical issues have been surfacing in the last decade due to the hand in hand prosper of international business globalization. The ethical concerns include corruption, bribery, human rights issues among many others. Business ethics is a form of professional ethics or applied ethics that examines moral or ethical problems that arise in a business enviroment. It involves the application of moral behavior to business situations (Adeyeye, 2012 p 22). Bribery is the offering, receiving, soliciting, and giving of something of value in order to influence an action of an official or company in offering of legal or public duties. A bribe is a gift that is bestowed in order to influence the recipients conduct and the extent of the influence

Business ethics is something that is present every day in business. It is defined as the application of generally accepted ethical principles in the process of business individuals and companies. It refers to the accuracy and fairness, expectations of society, fair competition, advertising, social responsibility. Regardless of race, religion, language and other characteristics, business ethics is always present in the operations of an enterprise, but it differs from culture to culture, from country to country. This paper will point out the importance of cultural differences, familiar traditions, specific and detailed analysis of business culture, normal levels of communication and differences of the United Arabic Emirates (UAE).