Ethics Case Study
Ethics Case Study
Ethical business behavior can be defined by business leadership. “Generally speaking, an action or choice can be considered ethically correct if it’s honest, fair, supports a beneficial outcome for both parties, and generally enables the overall corporate image and vision” (Definition of Ethics, 2002). In the following we will discuss how economic pressures on China, Jamaica, and America play a role in the ethical decision-making for financial, environmental, and cultural issues.
Economic Pressures of China and Jamaica China
1. Rapid growth of the Chinese economy
2. Emerging into major power status
3. The need to reconcile Confucian and Communist heritage with demands of 21st century business
4. Fueled interest in the process of economic transition and changes in types and methods of decision-making
Jamaica
1. Continuing struggle to build economy and infrastructure
2. Capitalist influences are many but lack of development leads to frustration
3. Openness to change and the influence of capitalism
4. Bringing together diverse heritages of the people that do not share similar ethical backgrounds.
The above economic pressures play a role in the decision-making process of financial, environmental, and cultural issues. Based on the study that new technology would give the company a competitive edge but would produce excess air pollutants, Jamaica was more inclined to use the new technology than China and America even though 48.7% of the country expressed a concern for the environment. China was the least likely to use the new technology with 46.9% of the country citing it would be illegal but only 18.4% expressing their concern for the environment. “In Jamaica’s concern for rebuilding its economy and its openness to change, it is willing to tolerate more violations of pollution standards than are the other countries” (Fok, 2005). Based on the study of a bicycle company making a payment to a foreign businessman to gain access to
Ethical business behavior can be defined by business leadership. “Generally speaking, an action or choice can be considered ethically correct if it’s honest, fair, supports a beneficial outcome for both parties, and generally enables the overall corporate image and vision” (Definition of Ethics, 2002). In the following we will discuss how economic pressures on China, Jamaica, and America play a role in the ethical decision-making for financial, environmental, and cultural issues.
Economic Pressures of China and Jamaica China
1. Rapid growth of the Chinese economy
2. Emerging into major power status
3. The need to reconcile Confucian and Communist heritage with demands of 21st century business
4. Fueled interest in the process of economic transition and changes in types and methods of decision-making
Jamaica
1. Continuing struggle to build economy and infrastructure
2. Capitalist influences are many but lack of development leads to frustration
3. Openness to change and the influence of capitalism
4. Bringing together diverse heritages of the people that do not share similar ethical backgrounds.
The above economic pressures play a role in the decision-making process of financial, environmental, and cultural issues. Based on the study that new technology would give the company a competitive edge but would produce excess air pollutants, Jamaica was more inclined to use the new technology than China and America even though 48.7% of the country expressed a concern for the environment. China was the least likely to use the new technology with 46.9% of the country citing it would be illegal but only 18.4% expressing their concern for the environment. “In Jamaica’s concern for rebuilding its economy and its openness to change, it is willing to tolerate more violations of pollution standards than are the other countries” (Fok, 2005). Based on the study of a bicycle company making a payment to a foreign businessman to gain access to
References: Definition of Ethics. (2002). Received from http://www.more-for-small-business.com. 2011 Voice Marketing Inc. Fok, L., Hartman, S., & Kwong, K. (2005, Winter). A study of differences in business ethical Values in mainland China, the U.S. and Jamaica. Review of Business. 26(1). 21-26. Mcconnell, C., & Brue, S., (2005). Economics: principles, problems, and policies (16th ed.). New York: McGraw-Hill.