Global Business and Ethics
Global Business and Ethics
By
AL 367
Global Dimensions in Business
September 14, 2011
Professor John Dorsey
Introduction
This term paper discuss “Global Business and Ethics” that relates to the material covered in the text. Globalization is important to a company because it provides them with the opportunity to reach a much larger consumer base and to generate greater earnings. In order to globalize successfully, companies conduct research continually about the countries it intends to do business in. With the increase of business globalization, management is constantly involved in international environments with ethical challenges. I will discuss ethical conduct and how difficult it is to manage when a different language and culture is the target. Having customers and employees from different cultures is a challenge. Management will be under a great deal of stress and stakeholders will enormously increase. The purpose of this paper is to (a) describe ethical issues that become evident as a result of globalization; (b) compare ethical perceptions across cultures in regards to the situation; and (c) determine which risk and consequences are associated with the globalization business and ethics.
The key stakeholders will include foreign governments with different regulations, policies and laws. The text states, “Economic and governmental forces are among the most significant uncontrollable forces for managers. To keep abreast of the latest developments and also to plan for the future, firms for many years have been assessing and forecasting economic conditions at the national and international levels.” (Ball, McCulloch, Geringer, Minor, McNett)
Many economists have suggested that the main responsibility of a corporation is to make a profit. Milton Friedman, the famous economist, argued that there is "one and only one social responsibility of business--to use its resources and engage in activities designed to increase its profits" (Doing
By
AL 367
Global Dimensions in Business
September 14, 2011
Professor John Dorsey
Introduction
This term paper discuss “Global Business and Ethics” that relates to the material covered in the text. Globalization is important to a company because it provides them with the opportunity to reach a much larger consumer base and to generate greater earnings. In order to globalize successfully, companies conduct research continually about the countries it intends to do business in. With the increase of business globalization, management is constantly involved in international environments with ethical challenges. I will discuss ethical conduct and how difficult it is to manage when a different language and culture is the target. Having customers and employees from different cultures is a challenge. Management will be under a great deal of stress and stakeholders will enormously increase. The purpose of this paper is to (a) describe ethical issues that become evident as a result of globalization; (b) compare ethical perceptions across cultures in regards to the situation; and (c) determine which risk and consequences are associated with the globalization business and ethics.
The key stakeholders will include foreign governments with different regulations, policies and laws. The text states, “Economic and governmental forces are among the most significant uncontrollable forces for managers. To keep abreast of the latest developments and also to plan for the future, firms for many years have been assessing and forecasting economic conditions at the national and international levels.” (Ball, McCulloch, Geringer, Minor, McNett)
Many economists have suggested that the main responsibility of a corporation is to make a profit. Milton Friedman, the famous economist, argued that there is "one and only one social responsibility of business--to use its resources and engage in activities designed to increase its profits" (Doing
Cited: Ball, McCulloch, Geringer, Minor, McNett. International Business. McGraw-Hill Irwin. 2008. Print. Berenbeim, R. Globalization drives ethics, New Zealand Management. (2000). Print. http://www.economist.com/node/304119 (Doing well) Reed, R. New directions: biz must adjust its compass. Crain 's Chicago Business. . (1999). Print. Talbert, R. Do ethics matter/ Industrial Paint & Powder. (2003). Print. Zuckerman, M.B. Policing the corporate suites. U.S. News & World Report (January 19, 2004).Print Vogl, F. Taking corruption out of the global business levels the field for US companies. World Trade. (2004). Print. Trimmer, A. Whistle blowing: what it is and what it might mean for incorporated legal practices. Australasian Business Intelligence. (March 8, 2004). Print.