Role of Ethics in Financial, Environmental, and Cultural Issues: Case Study of China, Jamaica, and America

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.

This article attempts to explain how personal, cultural, and organizational values play significant parts in decision-making. In addition, the foundation of ethical dilemmas can

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.

Business ethics and values have developed through time and crosswise over orders into a field, which is a standout amongst the most vital subjects in the field of business. For the authentic improvement of business morals, it is vital, to begin with, a meaning of business ethics and values in a worldwide setting (Savage, 2005). The study characterize business ethics and values from an administrative viewpoint as choices about what is correct or wrong (worthy or unsuitable) in the authoritative setting of arranging and actualizing business exercises in a worldwide business condition to profit (Child, 2015). The development

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.

Ethics are the product of a society’s culture so it is natural there will be different responses to similar ethical scenarios. Beekum, Stedam, and Yamamura (2003) suggest these differing conclusions will lead to conflict where one side perceives the outcome is ethical whereas the other does not. Another possible outcome is that one side may not even see a decision even being morally significant. Global organizations have the additional challenge when operating within a multi-national environment of recognizing cultural differences while maintaining a core moral and ethical foundation.

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 standard moral behaviors in a business situation, but it is the same as any of general ethnics on how we think and behave towards others and how we want others to feel the same. In any situation it can be addressed by what is happening and what should happen to this situation. In business ethic, the decision that is made has to be thought out more carefully because the business that is effected will affect the whole organization that normally consist stakeholders of all kind. Business ethics have changed over the years from centuries to decades ago. More cultural diversity I feel has been a major change in work environments. There has been more ethnic codes put in place, people (employees to customers) speak their opinion

Satterlee (2014) states that a “difficulty often faced by the global business manager is with customs, which can vary greatly from one country to another (p. 11). However, acknowledging and understanding the culture before engaging in the global business process substantiates the difference between success and failure. Also, “one of the greatest challenges of working in this environment is doing so without sacrificing corporate or personal integrity” (Satterlee, 2014, p. 11). For example, “What is seen as an ethical decision in China may not be seen as such in Canada” due to global ethical standards (Robbins & Judge, 2009, p. 161). As a result, a Canadian would be in a dilemma working in China which commonly practices bribery in business transactions (Robbins & Judge, 2009, p.

Ethics in a global concept is difficult to pinpoint because each country has its own culture. This culture can affect the government and the citizens, which in turn, affects the way businesses are managed. However, this can become a problem when companies become international. On the other hand, there are global common values that many countries possess that can help fair commerce across countries. These shared values come from the fact that many of the world’s religions share the same values. Therefore, “relative prosperity of developed economies seems implicitly to be taken as evidence of a sustainable form of free market capitalism that is supposed to be a universal economic destination” (Michaelson, 2010, p. 239). However, when a country does not share these values, or has a leader that does not it can become a major problem for

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

Ethical business behavior can be defined by business leadership. “Generally speaking, an action or choice can be considered ethically correct if it’s honest, fair, supports a beneficial outcome for both parties, and generally enables the overall corporate image and vision” (Definition of Ethics, 2002). In the following we will discuss how economic pressures on China, Jamaica, and America play a role in the ethical decision-making for financial, environmental, and cultural issues.

When considering ethical issues, we have to consider things in a global prospective, because what may be perfectly right for one nation may be looked in a different way from a different

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

Social-cultural learning can be illustrated through the examination of businesses operating out of both developed and emerging economies. A close examination of their similarities and differences provides distinctions with their beliefs toward business operations and ethics. This type of examination can lend insight into how companies within emerging economies are able to leverage their resources and capabilities in the development and growth of successful operations.