...the International Business Ethics Gabriela Dubcová* ABSTRACT The ethics triangle: national law, culture and political economic system. Key factors of current ethics issues in an international environment. The most visible changes in environment dimensions. Principles of international business ethics. Current ethics challenges in international environment. Common issues of the international business ethics. Comparison of ethical standards in different cultures. Accelerating development of globalization and assimilation between Europe and the USA. Differences between Europe, the United States and Asia in the business ethics perspective. Development processes of global business ethics. Levels of global business ethic level. Principle of normative guidelines for business conduct of multinational corporations. Current functioning of institution engaged in the international business ethics. Key words: The ethics triangle; Current ethics issues; International business ethics; Ethical standards; Global business ethics; Institution engaged in the International Business Ethics. JEL classification: K2, M1 Introduction The present economic situation in the globalized world generates very efficient processes in international companies with large profits for managers but with a relevant risk in economic and noneconomic ambit to eliminate any negative impacts of the crisis from one country to another. In this case, it is necessary to enact and apply ethics principles in international...
Words: 5135 - Pages: 21
...Ethics and Values in a Global Setting Daniel Reeves CMGT/530 May 30, 2011 LYDIA BELL Ethics and Values in a Global Setting As more businesses broaden their reach by exploring the global market. Leaders should realize the importance of personal values when hiring candidates to represent their organization. This is done by Identifying individuals personal values. According to Heathfield (2007) article, Secrets of Leadership Success, “Values provide the basis for judgments about what is important for the organization to succeed in its core business.” Organizations can complete this by implementing a value system assessment of personal during the hiring process as well as throughout their employment. This way they can compare and monitor all changes over time. The next step is to align the values and ethics of individuals with the values and mission of the organization. This step is important because no one should be forced to represent something or someone they don’t believe in. Likewise no company should have to hire someone who does not believe in or support the values and mission of there organization. There has to be a common ground. Once this is reached organizations can take there values and mission and explore the global market. As we enter the global market, we see how are personal ethics and values are used differently. We know as individuals are personal ethics and values are a set of established rules that govern how we live. This is the same mindset of individuals...
Words: 596 - Pages: 3
...are going to use such incentives to gain business. BD needs to decide if they are going to have a uniform policy on gifts, or make a region-by-region policy? My recommendations are that the company treats these ethical issues on a region-by-region policy. As we have discussed in prior cases, culture is a large part of how people do business and companies need to respect the culture and their norms when running international businesses. But at the same time, BD should not be chosen because of how great the gifts or bribes are but rather how good of a product they provide. BD is trying to increase their attention onto ethics and ensure that employees are complying with their practices on an international basis. The problem is that in each country or region, social norms change. One must pay special attention to the cultural aspects when dealing with business ethics when determining what is right and wrong. In one country you could offend someone, and in another you might not. For example in American a...
Words: 803 - Pages: 4
...Statement of Ethics Statement of Ethics Table of contents Using the Statement of Ethics The 3 Basic Beliefs and Guiding Principles Introduction Who is Covered What Law Applies Associate Responsibilities Additional Responsibilities for Management Associates Discipline for Violations 4 5 6 6 6 6 7 7 8 8 8 8 9 Leading with Integrity in Our Marketplace Fair Competition Intentional Dishonesty Financial Integrity Insider Trading Restrictive Trade Practices 19 19 19 20 20 21 Leading with Integrity in Our Communities 22 Anti-Corruption Anti-Money Laundering Authority to Work Environmental Responsibility Health & Safety Protecting Personal & Business Information Government Contracts & Inquiries Political Involvement International Trade Media Statements 22 23 24 25 25 26 28 28 28 29 30 30 32 33 Raising Concerns & Speaking Up Ethics Opinions Waivers What happens How to Raise a Concern Leading with Integrity in Our Workplace 10 Alcohol & Drug Abuse 10 Harassment 11 Inappropriate Conduct 11 Non-Retaliation 12 Non-Discrimination 12 Wage and Hour 13 Conflict of Interest (COI) 14 COI – Financial Investments 14 COI – Personal Relationships with Suppliers 15 COI – Gifts & Entertainment 16 COI – Personal Relationships with Other Associates 17 Walmart Assets 18 Final Disclaimer Global Ethics Contact Information Ethics Committee Contact Information Index 2 A message from our Chief Executive Officer Mike Duke, CEO Dear friends, Walmart started out with a single...
Words: 11974 - Pages: 48
...Global Business and Ethics Global Business and Ethics The phenomenon that is globalization has assisted in the elimination of a myriad of business related ethical issues—well maybe not. Globalization has managed to bring to the forefront a number of ethical issues corporations and individuals are confronted with on a regular basis. Globalization. Two such ethical business issues that have highlighted surround the act of bribing officials and the act of employing children, on a full-time basis, to work in factories or on agricultural fields. Bribes in the Global Marketplace “You must pay if you want to play”—is a phrase that has been, unfortunately, too often uttered by many a government official to foreign as well local businesspeople. The phrase, while simplistic, is meant to inform those businesspeople that in order to get their assistance, or in the worst case scenario, to have the right permits issued so they can enter the country’s marketplace—an extra fee will have to be paid (Trevino, Nelson, & Wiley, 2007 ). It must be understood that these extra fees (which are bribes) are usually against the law in the official’s country, but nevertheless, they are “an accepted part of commercial transactions in many Asian, African, Latin American, and Middle Eastern cultures” (Trevino, Nelson, & Wiley, 2007, p.365). Cultural Perceptions The American perception. In the United States, the bribing of local or foreign officials is perceived as act that is unseemly...
Words: 975 - Pages: 4
...Cox Macroethics. Personal Responsibility in an Age of Global Problems Review Assignment Make a summary of the author’s main contentions This study starts with the point of view that classic ethics are failing when they are confronted with many global problems. Compared to other periods of time, the world is able to connect nowadays. Because of the possibilities of the media, nearly ever person has qualitatively and quantitatively choices. The author emphasizes that we don’t choose to be global citizens; she claims that the world’s people are global citizens. People would choose the way of living with the media. The human nature is the basis for the philosophical morality. The concept of virtue, which was defined by Aristotle and other philosophers is basing on the philosophical morality. They underline that people fulfill their potential by using their intellect and will. „Excellent“ would not be given by nature, people have to put afford in work to achieve this status. Besides, other philosophers characterized mortality apart from particular human talents and functions. For examples Kant refers to rationality or Hume choose rationality as criterion. Other authors also claim natural right as the source of ethics. In all of these described concepts, ethics are based on essential human experience and our notions of ethical goodness are intrinsically bound up with our self-definition. At the macro level, ethics deduce from the essential nature like social beings. Through...
Words: 954 - Pages: 4
...resource departments vary from company to company; no two are identical (Noe, Hollenbeck, Gerhart, & Wright, 2004). Globalization and Diversity However, one human resource role remains the same from company to company. As a vital part of the organization’s strategic plan, HRM must also adapt with industry trends to maintain growth. Companies adjust to changes in marketing, supply, demand, legal, financial and environmental trends on a constant basis. HRM must also monitor, adapt and implement new strategies to combat trends within human capital to maintain a successful competitive advantage because every organization wants to hire, train, develop and retain the best employees within their industry. As companies strive to become globally competitive, human resources must leverage to the full capabilities of its work force in order to capitalize on its diversities (2007, Need to transform). Companies must prepare for completion in increasingly global markets by hiring from an international labor pool and training employees for global job assignments. HRM will have to identify and plan for legal, cultural and ethical issues that may arise from these new...
Words: 772 - Pages: 4
...net/Aamirabbasi72/social-responsibility-ethics-in-the-global-market http://www.slideshare.net/christiangadams/global-leadership-and-ethical-issues-in-marketing-advertising-4511157?qid=e9770eb4-55b4-4f87-8a7c-c2734d94e211&v=default&b=&from_search=2 http://books.google.co.in/books?id=-kng8Ja5k8IC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false http://www.researchgate.net/publication/235314095_Ethical_issues_of_global_marketing_avoiding_bad_faith_in_visual_representation http://cdn.intechopen.com/pdfs-wm/12111.pdf http://onlinelibrary.wiley.com/doi/10.1002/9781444316568.wiem06047/pdf http://www.nfib.com/article/business-ethics-in-a-global-marketplace-22753/ file:///C:/Users/Sajid/Downloads/242-470-1-PB.pdf http://cdn.intechopen.com/pdfs-wm/12111.pdf dspace.iimk.ac.in/bitstream/2259/392/1/17-27.pdf%20rel='nofollow' http://www.hg.org/article.asp?id=7796 http://www.bms.co.in/write-a-note-on-ethics-in-global-marketing/ http://www.termpaperwarehouse.com/essay-on/Ethics-In-International-Marketing/53994 Over the years, importance of ethics in the business world has increased and the world has seen a remarkable increase in the ethical norms and concerns. With the modern day consumers having the luxury to have more than one company to offer similar products, companies are trying to be extremely careful in terms of how their company is portrayed on the ethical standards. New trends and issues arise on a daily basis which may create...
Words: 383 - Pages: 2
...Global Finance Environment Paper FIN/403 May 4, 2008 Globalization refers to the merging of national markets into one huge global marketplace. In today’s market, selling internationally is much easier due to falling barriers in cross-border trade. Now businesses don’t have to be industry giants to operate and succeed in global markets. Although it can be beneficial to offer a standard product that can be used worldwide, significant differences still exist between national markets such as cultural differences, consumer taste differences, product preferences and legal regulations. It is important to define and understand these differences when merging into national markets. Globalization is inevitable and it’s happening at an astonishing speed in nearly every market possible. The technology era that we are in has enabled businesses to join forces like never before and we are seeing significant changes in the global marketplace. There are main drivers in globalization and this paper will define three of them, as well as describe the risks associated with financial investing, and explain the importance of cultural sensitivity and ethics in global finance. Drivers of Globalization Market drivers Domestic markets are saturated and growth opportunities are often times limited. Expanding globally opens up many new opportunities allowing for real growth within a business. The following lists in detail the specific market drivers that play a key role...
Words: 1180 - Pages: 5
...BUSINESS ETHICS AND CSR IN THE CONTEXT OF SAMSUNG ELECTRONICS 1.0 Introduction In the 21st century of business, there are number of factors apart from the financial figures that play a vital role for the success story of the business corporations. These factors include the culture adopted by the business, philosophy of the management of the company, code of ethics and standards followed by business. The presence of all of these factors in the business’s ethical guidelines has a significant impact on the ability of the business organisations to perform well on the long term basis. In this report the Samsung Electronics’ ethical issues are studied along with the importance of the business ethics and Corporate Social Responsibility (CSR) practices adopted by the business organisations. The upcoming sections of this report present information about the meaning and importance of business ethics which is followed by the description of the violations of the ethical issues by the Samsung Company and the also the role of Samsung management in promoting CSR and overcoming ethical issues. 2.0 Meaning of Business Ethics The primary objective of each and every business organisation is to run business for the purpose of profit as well as the maximisation of owners’ wealth. Profit can be maximized by selling goods and services at reasonable prices and as far as wealth is concerned this can only be maximized if business follows the required ethics. The term business ethics means...
Words: 3270 - Pages: 14
...Ethics – can we merge AICPA and IFAC ethics standards? AC504 March 10, 2013 INTRODUCTION There are many challenges and obstacles facing the accounting profession with the convergence towards a globally accepted accounting reporting structure and a global ethics structure. Today’s economy is becoming globally smaller and more importantly the economy from all fronts is becoming more co-dependent on one another from a domestic and international perspective regarding finance, raw materials, IT, and labor talent. Some of the challenges facing the accounting profession as move towards a global standard is how do we ensure the information are reliable? Many companies in various parts of the world have different reasons/motives for how financial information is compiled and distributed due to things such as government or other political/social reasons and influences. Another large issue facing accountants would be what is acceptable in Country A may be unacceptable from an ethical standpoint to Country B. An example of this, IGAAP is less stringent than U.S. GAAP regarding certain disclosures, therefore, how will the information be disclosed in order for investors and creditors to make informed decisions. From an ethical standpoint will companies chose to use IGAAP because it is less stringent and the disclosure will be less disclosed than it is today. Finally the idea of enforceability, in certain countries, will the Commission actually have authority to hold...
Words: 1818 - Pages: 8
...Abstract In this paper I will analyze the case study of Mattel Inc. and their Global Manufacturing Principles (GMP) and applying it to three different virtue ethics; fairness, honesty and justice. Then I will apply deontology, “always act in such a way that you can also will that the maxim of your action should become a universal law. Public concerns about worker exploitation and environmental degradation arose with the expansion of outsourcing and production in emerging economies where poverty, abundant labor, and need for job creation provided unprecedented opportunities for large multinational corporation (MNCs) to shift production from high-wage countries to low-wage countries. Starting with isolated complaints from civil society organizations, human rights groups, and organized labor in the mid-eighties, the anti-sweatshop movement became a major force by early nineties in the United States, Canada, Europe, and other industrially advanced countries. Global companies were under fire for operating factories with working conditions that violated basic human rights and labor laws in terms of wages and working conditions. Instances of worker exploitation and employment of underage workers were widespread. Mattel was in the middle of all of this and had also taken steps to respond to public concerns with regard to sweatshop-like conditions and worker exploitation in toy manufacturing factories in China and other developing countries. These efforts were quite similar...
Words: 1463 - Pages: 6
...Section 1: Introducing business ethics. Key idea: Globalization, defined as deterritorialization of economic activities, can be seen as a key context for business ethics. The effect of this is that the more business become global, the more it has to cope with regions and countries where ethical values are vastly different, p. 17, 19, 24, learning outcome 1, 2. Question 1: In which of the following areas is it not evident that deterritorialization is particularly relevant to business ethics? 1. Legal issues 2. Cultural issues 3. Personal issues 4. Accountability issues Question 2: Globalization can be seen to affect all stakeholders of the corporation. Mention four of these, explain how they are affected and provide an example. * Shareholders: globalization provides potential for both profitability and greater risks. * Consumers: global products provide social benefits to consumers, but could also meet protests. * Government and regulation: globalization weakens governments and increase corporate responsibility. * Employees: globalization provides job through outsourcing of the production, but can also raise potential for exploitation of employees through bad working conditions. * Civil society: global business activity brings the company in direct interaction with local communities, thereby raising the possibility for erosion of traditional community life. * Suppliers and competitors: Suppliers in developing countries face regulation...
Words: 1089 - Pages: 5
...Evaluation of a Business Code of Ethics, The Hershey’s Company PHL/323 Mission Statement Hershey’s Mission Statement noted here, (Social- Responsibility/Marketplace) “Bringing sweet moments of Hershey happiness to the world every day,” Provides the focus of all operations within the Hershey’s Company. Although Hershey’s mission statement provides a simple goal that encompasses acknowledgment of global market share with the sweet moments of happiness provided in every aspect of Hershey’s daily endeavors, a strict code of ethical business conduct forms the underlying fabric that governs all endeavors. Commitments The Hershey’s company understands the scope of responsibilities included with company success as its global influence demands considerable resource utilization. These responsibilities extend past bottom line profit to supporting various charities focused on providing for the needs of children. Hershey’s Code of Ethical conduct contains detailed information as mentioned by, (Code of Ethical Business Conduct, n.d.) “Attempts to address most common legal and ethical issues that we might encounter” To Fellow Employees The foundation of Hershey’s success...
Words: 1265 - Pages: 6
...Title: Medical Ethics: History and Guiding Principles Author: Alan J. McGoldrick Course: Medicine, Disease and History Instructor: Professor Foss Date: June 15, 2012 Medical ethics are the moral guidelines and ethical laws that help to prioritize a medical professional's work responsibilities. The code of medical ethics outlines the proper conduct between medical professionals and their patients, communities, and colleagues. Each country has a different code of medical ethics, though most contain the same basic principles, and all share the same history of evolution, according to the World Medical Association. Medical ethics refers to the discussion and application of moral values and responsibilities in the areas of medical practice and research. While questions of medical ethics have been debated since the beginnings of Western medicine in the fifth century B.C., medical ethics as a distinctive field came into prominence only since World War II. (Porter, 1998) This change has come about largely as a result of advances in medical technology, scientific research, and telecommunications. These developments have affected nearly every aspect of clinical practice, from the confidentiality of patient records to end-of-life issues. Moreover, the increased involvement of government in medical research as well as the allocation of health care resources brings with it an additional set of ethical questions. Emerging Medical Ethics Through the Ages Ancient Medical...
Words: 1879 - Pages: 8
