Study of Differences in Business Ethical Values in Mainland, China

Topics: Economics, Normative economics, Decision making Pages: 2 (565 words) Published: April 24, 2011
Ethics in professional environment prefer to the set of rules and principles or ways of thinking that are designed to guide the actions of the particular group. Ethics are primarily considered an important part of business decision-making process, especially in accounting and financial environments. Decision-making for financial and environmental issues will have a significant influence on businesses, employees, and public. Managements must have high integrity and responsibility when making decision on financial reports. The businesses will take all responsibilities to provide fairly and accurately their financial information. It is illegal to lie to shareholders and manipulate financial numbers to produce fake profits, ignoring the businesses long term financial problems. Even though each country has its own culture and different environment, but there is not much difference to practicing ethics in decision-making for financial issues. All decision makers in three countries are required to comply with applicable governmental rules and regulations as well as honest and ethical conduct. However, American society tries to limit conflict of interest. For instance, it is criminal if the employees or managements take advantage of inside information or the facts that are not yet known in public. In contradiction to the USA, Chinese government allows employee to do so. Because of different culture and environment, each country will have different processes for decision-makers. Most of emerging and developing countries like Jamaica may avoid environmental managements when making decision for finance.

There is the difference between positive and normative economics. Positive economics concentrate on the real-world data and scientific analysis extracted from studies and researches through direct experience and observations to determine what the economics should look like, whereas normative economics focus on value judgments to achieve its goal. It opens for expressing...
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