Business Ethics and International Business
QUESTION :
Business and Ethical practices/Issues in International Business and the role of Multinational enterprises (MNEs)
Introduction to Business and Ethics
The ethical-related issues have represented the foundation of different religions and life styles. 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, 2009, p. 5). 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,
Business and Ethical practices/Issues in International Business and the role of Multinational enterprises (MNEs)
Introduction to Business and Ethics
The ethical-related issues have represented the foundation of different religions and life styles. 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, 2009, p. 5). 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,