International Business: The Importance of Ethics in Business

Ethics has been around for a long time. Merriam-Webster defines ethics as rules of behavior based on ideas about what is morally good and bad. It is an area of study that deals with ideas about what is good and bad behavior. Ethics has much to do with feelings and beliefs. If you feel deep down in your heart that something is not right, then it you should not do it. The Bible says, “So whoever knows the right thing to do and fails to do it, for him it is sin” (James 4:17 English Standard Version). Ethical business procedures include guaranteeing that the main legality is in place. Also, the company observes moral standards in its relationships with the people in its business community, which includes the most important people in their business, who are the customers. This report will discuss ethics in business, ethically transformed organizations; organizations preparation to make ethical decisions, ethical danger signs, and organizations that does business globally.

Business Ethics are defined as “moral principles that guide the way a business behaves” (Businesscasestudies, 2017). In order for any business or individual to act in an ethical

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.

In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.

Business ethics is the principles and standards that define acceptable behavior in business organizations which is determined by customers, competitors, government regulators, interest groups, and the public, as well as each individual’s personal moral principles and values (Ferrell, Hirt, & Ferrell, 2013). Every business should present with ethical performance and socially responsible for the public.

With the globalization in world budget, business ethics became essential necessity for companies. Business to business ethics of applicable behaviors in the long-term achievement of businesses in a positive direction, otherwise it has been the supremacy to adversely affect the behavior. As a result, the breakdown of ethical scandals has emerged released in the United States of America and Europe. Business, which

Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

Ultimately, businesses exist to make a profit for their owners and shareholders. In most cases, ethical behaviour adds expenses to the business, reducing profits. Profits are a good thing – they ensure that people have jobs. The smaller the profits, the fewer income tax dollars are paid, which would hurt government programs.

The two articles, which are from the same source, I have selected provide excellent summaries of the business ethics in the two countries selected, they are a guide to people wishing to do business in these two developing and fast growing nations. The countries I have selected are India in Asia and Brazil in South America. Both of these countries are part of the BRIC (Brazil, Russia, India and China) group of countries which represent 4 of the fastest growing economies in the world, as such there is a lot of interest with large organizations to enter and benefit from this growth.

Ethics, sometimes known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct, often addressing disputes of moral diversity. In simple terms, word ethics means the concepts that defines what is right and what is wrong to do in a particular situation. International business on the other hand, comprises all commercial transactions that take place between two or more regions, countries and nations beyond their political boundaries.

There are five things that can be done by the international business and its managers to ensure that ethical issues are calculated into the organization's business decisions. Those five are as follows: (1) hiring and promotion is accomplished within a framework of personal ethics; (2) the organizational culture is constructed with value placed on behavior that is ethical; (3) the organization ensure that leaders not only speak of ethical behavior but follow through in their actions as well; (4) decision-making processes in the organization make the requirement that the ethical aspect of business decisions are considered; and (5) moral courage is developed. (Ethics in International Business, nd)

In the business world, ethics is a highly debatable and controversial topic. There is no standard measure to state if a particular perceived ethic is good or bad. This decision is highly subjective and each viewer has

Given financial scandals and the resulting new mandates on business, firms find themselves pressed to develop strong codes of ethics to guide the behavior of board members, managers, and employees. Although the concern with ethics has always been a part of doing business, business leaders today are beginning to think about ethics as a set of principles and guides of behavior rather than a set of rigid rules. In this sense, business ethics is not only an attempt to set a standard by

“As a branch of ethics the field of business ethics is interested in how judgments of right and wrong, good and bad, moral obligation and responsibility, rights and duties, and the like, are made and justified” (Gill, David). As a descriptive enterprise, business ethics is an analytical exercise in understanding and explaining how people and businesses make their ethical judgments and decisions. If your business does not carry the proper ethics it cannot thrive. It takes the necessary steps within the business management to enforce these ethics upon their business. The field of business ethics is interested in more than just social and environmental responsibilities but those are certainly critical component areas.