Business ethics and issues essay

Sample Essays Business Ethics essay: The world is in the age of innovations, with an exponential free market growth in a world economy. Never than before, more and more people and countries are getting interwoven through technology, spreading freedom and democratic ideals, to enhance free markets; to protect personal property rights; and at the same time encouraging respect for human rights, conserving the environment and the respect for human rights.

Business ethics and issues essay

Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Ethics can be found in all aspects of human activity as the individuals have been preoccupied with the quality of their behavior towards the people around. Even if they do not purposefully intend to improve their relations with the others, people always evaluate their behavior from the point of view of their correctness.

Nowadays, consumers and pressure groups appear to be increasingly demanding firms to seek out more ethical and ecologically sound ways of doing business. The media also constantly seems to be keeping the spotlight on corporate abuses and malpractices.

Even firms themselves appear to be increasingly recognizing that being ethical or at the very least being seen to be ethical may actually be good for business.

Business Ethics Business ethics is the study of business situations, activities and decisions where issues of right and wrong are addressed Stanwick and Stanwick,p.

Business ethics covers the whole spectrum of interactions between firms, individuals, society and the state. Some specialists consider that business ethics begins where the law ends. Business ethics is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong.

From a managerial perspective, the ethical problems manifested in the arena of international business represent real ethical dilemmas for the contemporary managers as they generate, at least on a short term, a conflict between the organizational economic performance evaluated by measuring the turnover, the costs and the profits and its social performance evaluated by measuring the ethical responsibilities to the people outside or inside the organization Hosmer,p.

Competition in international business is such that ethics can appear to be a handicap, if not downright irrelevant. Many business people consider that business has only two choices: Corporate governance, bribery, corruption, working conditions and targeted marketing are all issues that require organizations to establish an ethical standpoint from which they can work on.

There is an increasing emphasis on the corporate responsibility of large organizations from developed nations and the way they operate in third world countries. Many nations now impose their ethical standards on developing countries even though they themselves have been guilty of arguably unethical practices in the past.

For example, the poor working conditions suffered in the third world were commonplace during the industrialization of many western economies. Introduction to international Business In the world economy today, we see a shift away from self-contained national economies with high barriers to cross-border trade and investment and a move toward a more integrated global economic system with lower barriers to trade and investment.

The globalization of markets and the globalization of production has resulted to the trend towards a more integrated global economic system. The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace.

In many markets today, the tastes and preferences of consumers in different nations are converging upon some global norm.

The goal for companies in this case is to lower their overall cost structure or improve the quality or functionality of their product and gain competitive advantage.

International Business Ethical Practices As companies expand their operations across the globe, new trends and issues arise daily that could create burdens to organizations. The need for international business ethical practices within organizations has become critical in day-to-day operations and in avoiding legal issues.

Implementing strategies such as codes of conduct guides multinational organization in the efforts of following ethical standards. When ethical norms are in conflict, owning different cultural practices, ethical norms guides businesses conduct in other nations and cultures. For organization to improve the ethical climate, management must communicate proper ethical awareness throughout the organization by offering training, courses codes of ethics and reward program.

Also management should appoint an ethic officer and ethics committee that could supervise the implementation of ethics policies These are a few methods that an organization can employ to improve ethical behaviors.

Due to increasing globalization, international business ethics has become an important issue. The number of multinational companies, which operate outside of their home country, is increasing rapidly. Many conflicts occur due to contrasting ethical values of various nations in the international community.

Some ethical dilemmas arise from issues of employee rights, human rights, environmental concerns, preventing corruption and moral obligations Employee Rights Employment practices of some multinational companies may cause ethical dilemmas. Many times work conditions in one nation may be inferior to conditions in another country, according to Ethics in International Business, published by McGraw-Hill.

Human Rights Although there is broad agreement on the existence of universal human rights, there is debate as to what exactly those rights are.

Developed nations generally have stricter regulations on pollution, toxic waste management and use of toxic materials. The multinational company may legally be allowed to operate in the host country with more emissions of pollution and toxic material. However, there could be backlash from the international community and consumers in the home country.

Environmental concerns are important because pollution of the atmosphere and oceans affect the entire international community, according to Ethics in International Business.

Business ethics and issues essay

Preventing Corruption In the United States passed the Foreign Corrupt Practices Act, which outlawed bribes to foreign government officials for business purposes, according to Ethics in International Business. The convention went into effect in and required OECD member nations to criminalize bribery of foreign officials.

However, not every member state has translated the convention into domestic law. Morality Social responsibility is the idea that businesses should consider social consequences of their actions.Business Ethics: Ethical Issues and Corporate Policies (Essay Sample) Instructions: Business Ethics Competencies: Ethical Issues in Business - The graduate analyzes ethical and socially responsible courses of action in a given business situation.

Dec 03,  · Business ethics include many different topics grouped around duties, morality, integrity, behaviour, what is good and bad for company, employees and society as a whole. Essay on business ethics: Main issues What exactly business ethics is?

Business ethics is one of the most important, but at the same time, the least explored area in modern business life. The Importance of Ethics in Business Essay Words 6 Pages Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (, ).

The importance of business ethics was first recognized, during the ’s, when the social issues in business rise to large extent in the American societies. There were increased issues related to the public safety, and ecological problems related to the pollution, waste management system, disposing the toxic wastes etc.

in these societies. - Business ethics issues in the movie “Boiler room” Business comprises principles and standards that guide behavior in the world of business. Stakeholders-investors, customers, interest groups, employees, the legal system, and the community often determine whether a .

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