ethics and globalization
Group 1
Chapter 9: ethics and globalization
Class: Thursday afternoon
In this chapter, we will learn about ethics and globalization. The content will have some main points. Firstly, we will discuss about the ethical issues arising in global business. Secondly, we will mention the issue of ethical relativism in global environment and the challenges in developing a global code of ethics. Thirdly, we will focus on the ramifications of the UN Global Compact and finally, we will talk about the OECD Guidelines for Multinational Enterprises.
First of all, we will start with the ethical issues arising in global business with some important concepts that relate to ethics in less-developed nations. Less-developed nation is the country that lacks the economic, social, and technological infrastructure in a developed nation. Besides that, developed-nation is a country that enjoys a high standard living as measured by economic, social, and technological criteria. These nations are busy playing the game of globalization-everyone is pursuing the same goal of maximum profits with minimum costs, and if individual cultures present some challenges, those can be overcome with translations and cultural adaptation. For example, the name Coca-Cola in China was first rendered as Ke-kou-ke-la and in Taiwan, the translation of the Pepsi slogan “Come alive with Pepsi generation” came out as “Pepsi will bring your ancestors back from the dead”. Another concept is utilitarianism that means ethical choices that offer the greatest good for the greatest number of people. Now we move to clarify some terminology. The term globalization is tha expansion of international trade to a point where national markets have been overtaken by regional trade blocs, leading eventually to a global marketplace. The last concept is multinational corporation (MNCs) that means a company which provides and sells products and services across multiple national borders. Also known as transnational corporation.
Chapter 9: ethics and globalization
Class: Thursday afternoon
In this chapter, we will learn about ethics and globalization. The content will have some main points. Firstly, we will discuss about the ethical issues arising in global business. Secondly, we will mention the issue of ethical relativism in global environment and the challenges in developing a global code of ethics. Thirdly, we will focus on the ramifications of the UN Global Compact and finally, we will talk about the OECD Guidelines for Multinational Enterprises.
First of all, we will start with the ethical issues arising in global business with some important concepts that relate to ethics in less-developed nations. Less-developed nation is the country that lacks the economic, social, and technological infrastructure in a developed nation. Besides that, developed-nation is a country that enjoys a high standard living as measured by economic, social, and technological criteria. These nations are busy playing the game of globalization-everyone is pursuing the same goal of maximum profits with minimum costs, and if individual cultures present some challenges, those can be overcome with translations and cultural adaptation. For example, the name Coca-Cola in China was first rendered as Ke-kou-ke-la and in Taiwan, the translation of the Pepsi slogan “Come alive with Pepsi generation” came out as “Pepsi will bring your ancestors back from the dead”. Another concept is utilitarianism that means ethical choices that offer the greatest good for the greatest number of people. Now we move to clarify some terminology. The term globalization is tha expansion of international trade to a point where national markets have been overtaken by regional trade blocs, leading eventually to a global marketplace. The last concept is multinational corporation (MNCs) that means a company which provides and sells products and services across multiple national borders. Also known as transnational corporation.