Business Ethics and Globalization

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Business Ethics and Globalization
Lindsey Herrera
XMGT 216
December 3, 2010
Carolyn Fuentes

Business Ethics and Globalization
There are many ethical issues one can find when studying the policy of international trade and globalization. The main ethical difficulty we find is the cultural ethics involved in business across the globe. The way we do business is not always the way others conduct business in their country. Does that mean that our way is necessarily the right way? I think this is a question we should always ask ourselves when we conduct business on any level. If we are being ethical, the culture should not be a major factor. The language barrier is a major difficulty that I have found when dealing with overseas contacts. It is so easy for one to miscommunicate information when dealing with foreign speaking persons. It is good to keep records of all communication for your own benefit. In some countries, China for example, the government has a huge impact on the way they do business. They limit the amount of products that their factories can sell to foreign countries or even produce for usage within their own country. Another ethical issue one may encounter when dealing with customers and suppliers from other countries is the currency exchange and money laundering problems that can arise. It must be a policy your company investigates thoroughly before sending any money to any unknown business. Although globalization may present many ethical issues, it is almost necessary to become educated about them due to the fact that international trade is such a huge business and is not going away anytime soon.
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