...RUNNING HEAD: THE IMPORTANCE OF ETHICS IN THE BUSINESS WORLD BY Marie J.Lucel MAN 2604 International Business Submitted to: Professor McFarlane Donovan Department of Business Administration Broward College North Campus Coconut Creek, Florida April 01 , 2013 The Importance of Business Ethics in International Businesses Abstract Keywords: Business ethics, corruption, human rights, conducts employment practices, environmental regulations, conflicts of interests, General Policy and Procedures, and moral obligation of the multinational organization. Introduction Businesses are faced with very real ethical dilemmas where the appropriate course of action is not really clear. Some of these are the ethical obligations of a multinational corporation toward their employment conditions, human rights, environmental pollution .Understanding the nature of ethical problems and deciding what actions to pursue when confronted with .Ethical problems frequently occur in International Business. Basic human rights are not accepted in international business, which include freedom of speech, freedom of assembly, freedom of movement, freedom of political repression and so on. In international corruption is so widespread in some countries that politicians and bureaucrats regard it as a benefit of office and openly as break laws against corruption. Corruption is seen and treated as illegal, and when discovered, violators are punished by the full extent of the law. In some countries...
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...What are International Business Ethics? International Business Ethics The importance of international business ethics has been rising steadily along with the growth of international business. Technologies like the Internet have made international business all the more viable, and many companies can only find the desirable growth and profit they seek by expanding into new markets. This means that just as business ethics domestically have grown in importance along with the power and significance of major businesses, so must international business ethics take center stage as a major concern of the modern era. The primary problem of international business ethics lies in the fact that most cultures and nations hold entirely different standards of both law and ethics. In America, business ethics can be employed because, in general, the disagreement between what actions are ethical and what actions are unethical in a single culture will be lesser than the disagreement between two entirely different cultures with different values and cultural practices. As a result, one business might believe it is acting perfectly in accordance with international business ethics, while another would view that first business as acting in a completely unethical fashion. Many businesses adopt the policies of cultural relativism, in which they attempt to take on the business ethics exhibited by the nation in which the business is working a particular deal, as opposed to attempting to carry any...
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...ISSN: 2249-1058 __________________________________________________________ ETHICS IN SUPPLY CHAIN Vipul Chalotra* __________________________________________________________ ABSTRACT: Today, supply chain management is a well recognised area of academic debate. It has an international presence, with both practitioners and academics alike recognising that it’s an important area of management. An ethical supply chain is paramount to the success of modern business. Through fair and ethical interaction with suppliers, wholesalers, retailers, customers and the industry at large, aims to promote ethical supply chain. Ethics may be considered as standards or norms that distinguish between right or wrong and good or bad. This paper aims to highlight the conceptual framework of ethical supply chain with its effective role in present business besides its importance in supply chain management. It also portrays the benefits derived by adopting ethics in supply chain management. Key Words: Ethics, Supply chain. * Assistant Professor, Department of Commerce, University of Jammu, Udhampur Campus. A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage, India as well as in Cabell’s Directories of Publishing Opportunities, U.S.A. International Journal of Marketing and Technology http://www.ijmra.us 186 May 2012 ...
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...Ethics KEY TERM and WHY YOU ARE INTERESTED IN IT Ethics is the key term chosen this week to research, secondary to the significant relevance ethics plays in all aspects of life. As a child, it was emphasized what was right and wrong, good and bad, to be the best one can be, and to make sure the decisions that are made are based on a common set of values and principles. As an adult, the adherence to these values has played a fundamental role in my own success as a business leader in my profession. EXPLANATION OF KEY TERM The general definition of ethics is ”the discipline dealing with what is good and bad and with moral duty and obligation” (Satterlee, 2009, p. 48). Every culture in the world will have some form of ethics and the society would have a set of values or moral duties and obligations. In some instances, these values may become law. Many of these moral values are based on a religion; for example, Christianity refers to the Ten Commandments, which forms a set of values. Some ethics are secular in nature. In business, ethics plays a major role on how companies act in relation to their core values. A world viewpoint would look at international business ethics as compared to domestic business ethics. The international business ethics would focus on the culture of that society along with their values and core beliefs. With our growing global economy, it is important to understand the ethical duties and obligations for businesses wishing to conduct business...
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...Environmental Factors Ashley Thompson MKT 421/BSAW13JXW8 July 9th, 2012 Instructor: Anissa Upshaw Utilizing Online Social Networking Sites Paper The subjects in this paper will revolve around Apple Inc the corporation. Apple Inc has been in business for several years, and has expanded their business from domestic to global in just a few months. The company sells to countries all around the world and their products are well known in many countries. The first subject will cover information on environmental factors that affect global and domestic marketing decisions. The second subject will analyze the influence of global economic interdependence also the effect of trade practices and agreements. The third subject will cover the importance of demographics and physical infrastructure; also this section will analyze the influence of cultural differences. The fourth subject will cover the importance of social responsibility and ethics versus legal obligations. The fifth subject will analyze the effect of political systems and the influence of international relations; also the Foreign Corrupt Practices Act of 1977 will be analyzed, also the influence of local, national, and international legislation will be analyzed. The final subject will cover the effect of technology. Environmental Factors Every company has environmental factors that affect their global and domestic decision making. The Apple store has three environmental factors that affect their global and...
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...Introduction For this paper I will be discussing Business Ethics and Corporate Social Responsibility (CSR) using Anglo-American and Primark case studies as examples. First, I will discuss what is meant by ethical business behavior. Second, I will discuss how Anglo-American and Primark apply ethics into their business practices. Third, I will discuss what the costs and benefits are to an organization when they behave ethically. Finally, I will choose one component from Svennson & Woods’ model from “A Model of Business Ethics”, and discuss how it is relevant for Anglo-American. Ethical Business Behavior Ethical business behavior refers to an organizations actions and policies that are synergetic with "doing the right thing" (Sethi, 2003). Similar to the inherent laws of society that man has established that promote specific behaviors and actions that are deemed appropriate to build trust and relationships that last, it is similar in corporations. In order to operate ethically, organizations must also establish a clearly defined set of principles and a culture of ethical compliance that builds trust and confidence with their employees and their customers (Paine, 1994). Ethical business behavior is a combination of values and normative ethics, which drive an organization. Additionally, ethical business behavior is expected by society as a whole. Svennson & Woods write, “Society does have expectations of business and of its business leaders” (Svennson & Woods, 2008). Anglo-American...
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...Ethics in Business BUSN310 1302A 03 International Legal and Ethical Issues in Business Eric Baime May 5, 2013 How would you effectively present the issue of potentially defective products to the CEO, other directors, and managers? In effectively presenting issues of potentially defective products to the CEO, directors, and manager, it would be necessary to have data supporting the negative pattern of growth for each product. Further, showing evidence to support the hazards to the consumer and how the product may respond if it was on the market. A true manager will want proof, and by presenting factually sound evidence will open their ears to listen and believe you, which in turn will assist them in making the necessary decisions. Furthermore, putting together a power point presentation to show the ineptitude of the present product(s) and perhaps allow the consumer to voice their concerns before the management team. By taking the extra step will demonstrate to the management team that you support them and desire to see success, which in return will prevent them from terminating you for speaking out and voicing your opinion. How would you specifically notify customers of such an occurrence? To effectively notify the customers of such an occurrence, it would be necessary for the CEO to put together a letter of explanation. Each consumer would find out by either email, regular mail, or the media. Further, the company can post all the necessary details on their website...
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...Ethics and Integrity in Multinational Companies Silvia Delia OLARU Spiru Haret University, Bucharest, Romania E-mail:olarudelia@yahoo.com Phone: + 40213169793 Elena GURGU Spiru Haret University, Bucharest, Romania E-mail:elenagurgu@yahoo.com Phone: + 40213169785/88 – ext.151 Abstract The good news for multinationals is that globalization is creating more universal standards of business conduct, and these are becoming more rigorous. As more companies adopt these standards, it becomes increasingly important for every multinational to establish companywide core values, standards of behavior, and relevant policies in tune with the rest of the world's ethics and compliance environment. The benefits of an ethical culture outweigh the costs. Globally ethical companies will be those that maintain a strong reputation in all their markets, experience increased employee commitment and loyalty, garner advantages in attracting and retaining customers, and generate superior levels of performance and success. Keywords: globally ethical companies, business conduct, ethical culture, professional standards, corporate code of conduct Introduction Companies operating in foreign countries find that understanding and complying with variant laws, managing employees far from headquarters, serving customers and relating to suppliers and partners in multiple jurisdictions can introduce significant challenges to developing shared corporate values and realizing a truly global culture. Multinational...
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...and eliminates unnecessary advertising trying to push sales, as Wal-Mart has successfully sold the concept to the customers, that it sells its products at the lowest prices, every day (Dutta, 2009). To provide commodities at low prices, Wal-Mart uses extensive foreign product importation. Its major trading partner is China, to which approximately 60 of its products are imported. Trade practices are methods of competition, operating policies, or business procedures common to members of a line of business or industry that may be formally adopted sometimes as a rule under government auspices. Wal-Mart has a policy to thoroughly check all regulatory requirements before attempting to import and export merchandise. They also have policies stating that documentation must be complete and accurate and internal controls must be established to ensure compliance with all regulatory requirements, including any record-keeping obligations. Wal-Mart has trade agreements with the Federal Trade Commission and all the countries it trades with. Importance of demographics and physical infrastructure Demographic information includes geographic area, age, income, race, gender, and education level. It also includes shopping habits, marital status, number of children and other information about...
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...Onyebuchi, Vincent. "Ethics In Accounting." International Journal of Business and Social Science. 2.10 (2011): n. page. Web. 6 Apr. 2013. . Purpose of Reading: My purpose of reading was to find out more about what comes into play in the accounting world ethics wise. I wondered if they used moral principles or if accountants are more strictly business without thinking ethically. Title: Ethics In Accounting Author: Vincent N Onyebuchi Qualified Because: He has written for the International Journal of Business and Social Science. He also has written other scholarly journal articles. Date of Publication: June 2011 Date Accessed: April 9, 2013 Name of Journal/Publication: Centre for Promoting Ideas, USA Volume/Issue Number: Volume 2, Issue 10 Database Used: Proquest Central Author is Arguing: The author is arguing that ethics need to be more important and come into play in the accounting industry. Saying New: The author is saying that ethics need to be of a higher priority in accounting. He gives the example of the Enron and how they did not act ethically by stealing all of that money. Draw On Previous Research From: He cites other sources in his work but he does not have a list of his works cited at the end so I am not sure where he got his previous work from. Previous Research Covers: The author previously researched a good bit about ethical behavior giving definitions and how it is basked on moral principles and such. He also must have researched...
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...Fachbereich Wirtschaftswissenschaften Studiengang International Management Fach- Sozial und Methodenkompetenz Bachelor Research Proposal Consumer perceptions of socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study * * * Index 1 Title and Initial Statement of Research Question 3 2 Background 3 3 Statement of research objective 6 3.1 Primary research objective 6 3.2 Secondary research objective 6 3.3 Definition of terms 6 3.4 Detailed explanation of objectives 7 4 Research design and schedule 8 4.1 Approach 8 4.2 Methods of familiarisation: 8 4.3 Methods of using text: 9 4.4 Methods of using Talk: 9 4.5 Methods of using experimentation: 10 4.6 Methods of observation: 11 4.7 Tools of data recording and documentation 12 4.7.1 Tools for talk 12 4.7.2 Tools for text 12 4.7.3 Tools for observation 12 4.8 Time schedule 12 5 Significance and creativity 13 6 List of References 13 Title and Initial Statement of Research Question Consumer perceptions of socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study Every single consumption choice that consumers make has a huge impact on the environment and the society. Consumers can influence the market by buying products that have a limited impact on the environment and the society. By taking social responsibility in...
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...Business Ethics Across Cultures Article Review Ken R. Johnson XMGT 216 May 27, 2012 Instructor: Deborah McCafferty Business Ethics Across Cultures Article Review Globalization has been an ongoing event for many centuries; ever since the first traders and merchants sought out other countries to bring back uniquely different food and goods, countries have been sharing their culture and perspectives with those they visit or those that come to their borders. Today, with the widespread use of Internet, digital information, and focus on international business, the positive effect of globalization is much more apparent as well as the challenges it presents to countries with different ethical cultures. While most would assume that people in another land speaking a different language, following a different religion, and eating different food would more than likely perceive and behave differently from than our own; the truth is that even though these differences may be perceived, very little is done to actually understand them appropriately unless it is deemed necessary. However, what is quickly becoming equally apparent, for international businesses and corporations to deal successfully with a foreign contractor, business, or even government; the proper measures must be taken to understand the differences in ethical perception and to work to accommodate those differences. Failure to do so leave many of these companies and businesses...
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...Bibliography Awadh, A. M. (2013). Impact of Organizational Culture on Employee Performance. International Review of Management and Business Research, 2(1). Retrieved from www.irmbrjournal.com The article focuses on how the organization's values affect productivity, profit, and how profit and productivity affect the organization's value. Explaining how important communicating a set of ethics, understood by employees, to strengthen the organization itself. Steered toward Managers, Consultants, Directors, Trainers, HR Managers,...
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...An Article On Business Ethics and Global Dimension of Business Business Ethics and Global Dimension of Business October 19, 2014 Ethical issues have been around for a long time and its association with globalization has been documented. The effects on the association with globalization are similar and closely related to that of international marketing. As a result, the increased globalization over the years has brought an increase in many problems associated with global trading including ethical ones. (WTO, 2011). As indicated by World Trade organization in 2011, there was significant expansion in world trade from 1950 to 2000. This increase was documented to be over twenty-fold with foreign direct investment and exports playing a significant role. This increase in world trade in the middle to late 20th century also saw small businesses increasing their investments in cross border trading. This resulted in an increase in the average yearly outflow of Foreign Direct Investment (FDI) from about $25 billion in 1975 to a record $1.3 trillion in 2000. (UN, 2001). This means that there were a great number of business people with different social and cultural backgrounds doing business in other areas of different geographical, political, legal, social and cultural environments. The challenges that confronted these business people working in these different environments with its associated social and cultural problems created a platform for indulgence in ethical problems and other...
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...global business face when dealing with other countries. McDonald’s global business must know how to deal with different cultures, laws, ethical situations, etc. that can cause threat and consequences for the business. The following will compare ethical perceptions across cultures concerning different situations. Businesses operate differently in other countries and McDonald’s must adapt to the cultural to do business. For a global business to be successful is a challenge and possible risk. The influence of global economic interdependence and the effect of trade practices and agreements Legal realism in diverse countries led to key choices that entail marketing. These consist of the capability to make particular claims, the capability to sell products in particular ways, the variety of business practices that take place, and a variety of aspects. These aspects should be understood and well thought-out when creating marketing plans. Other aspects that influence marketing compose of social accountability and environmental factors. In various cultures these issues are vital and other cultures it is not a concern. McDonald’s should follow legal conditions in countries that influence social and environmental practices, and still meet the expectations of locals on these matters. If not McDonald’s could not gain the respect or trust locally and globally as a company. The importance of demographics and physical infrastructure When company’s like McDonald’s do business globally...
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