The Financial And Banking System Of The Standard Chartered Bank Iranian Transaction Scandal

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.

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.

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

As a bank we follow our code of ethics which helps to establish expectations for character. It includes ideal goals to be striven for and minimum conditions to be met to be considered ethical. This is separate from the legal

Globalization highlighted the ethical issues and concerns for every individual organization, multinational organizational conduct their operations under ethical code of conduct to confine the issues faced by unethical conducts. Many organizations such as pharmaceutical firms, technological firms and financial firms pay more attentions to ethical behavior to ensure the sales to consumers have been impeccably ethical. However managers pay attention to behavioral ethical conducts that ensure the professional attitude of sales force towards consumers/customers (Chen & Tang, 2006, 69). Recent unethical conducts by Enron and WorldCom highlighted the attention for sales and ethical behavior, because unethical

Many people tend to equate ethics with their feelings. But being ethical is clearly not a matter of followings one’s feelings. Ethics, however, cannot be confined to religion nor is it the same as religion. Being ethical is not the same as following the law. The law often incorporates ethical standards to which most citizens subscribe. But laws, like feelings, can deviate from what is ethical. Finally, being ethical is not the same as doing “whatever society accepts.” In any society, most people accept standards that are ethical. But standards of behaviour in society can deviate from what is ethical. An entire society can become ethically corrupt. Nazi Germany is good example of a morally corrupt society. What then, is

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)

Ethics is the study of choices human beings make regarding what is right and wrong. And without Ethics, there will be no law, because law is enacted by one or more people coming to a decision on what is right and wrong. Though new circumstances can arise and law can be revised, but this is usually based on new insight, modification or more understanding. What is desirable or morally acceptable in some religions, cultures and societies might be a part of what is accepted by law, but that does not mean that, what they believe will be a total consideration for appropriateness of the law, just like in the second dilemma, where a child’s custody was taken from parents. The decision is based on Ethics (right and wrong), which made the law. And

When a person behaves ethically, they follow the rules of conduct that respects the rights of a particular group or individual, distinguishing between right and wrong. In regards to business, ethics has a say in the decisions managers make since these decisions will affect the overall success of the organization. It is important for management and companies to behave ethically. “When making business decisions, the claims of all stakeholders have to be considered.”

Ethics are the principles of a culture individuals, organisation or groups. It is also moral values which cultures or individual holds, such as the moral judgment and their decision making whether something is right or wrong. The decisions that may be impacted by ethics are rejecting a route which will increase their short terms profits due to it being unethical. This is an important aspect of business, as this affects the relations between different businesses and their workers but also affects how successful the business will be.

“The more one knows ethics, the more it is used and the more useful it becomes”-Plato, The quote by Plato is a reminder on just how important ethics is and how important it is to educate yourself on proper ethical practices. In the following paper I would like to look at the topic of global business ethics. Recent studies in business ethics have shown both remarkable similarities and differences across cultures with respect to attitudes toward questionable business practices. First I would like to talk about the affect that culture has on ethical behavior. Next, I would like to talk about ethical complexities and challenges facing businesses that operate internationally, mainly focusing in on multinational corporations and the ethical

Nowadays, businesses are facing a high demand not for their products but for their ethical conduct to produce goods or services. Alongside with the technological advances that create easy accessibility for information and the openness in media coverage, consumer’s awareness also increases regarding business’s ethical issue. This then make some type of business, especially International Business; have to be careful in their business’s conduct because each country has different standards and different rules also regulations concerning business ethics.

To resolve the stalemate, ethics plays a major role of harmonizing and reconciling the conflicting interests. In international marketing, ethics are necessary particular when a company is dealing with multiple conflicting legal and cultural expectation compliance. Even so, question arises on whether the company will obey the laws of it home or the less stringent law of the country in which it does business.

Ethics give to make a sense of right and wrong in the organisations and often when the law fails, it is the ethics that help organisation to protect from harming the society or environment.