Business Ethics and the Global Dimensions of Business

1404 Words3 Pages
bulb-icon

Recommended: Relevance of business ethics in global business environment

Business Ethics and the Global Dimensions of Business

This inclusive analysis was developed after an initial consultation with the C.E.O. of XYZ Construction, Inc. where the implications of expanding the construction company into Asia were discussed. The issues to be examined are the varied aspects of implementing a global business expansion. Time wise there is market potential for this opportune endeavor. However there are potential difficulties and risk that need to be considered before an international expansion is implemented. Moving from an exclusively domestic market into a global market within a horizontal construction operation can be perilous if not thoroughly strategized and prepared for carefully. Furthermore the ethical and social issues of the global market of Asia along with cultural diversity concerns will need to be addressed. In conclusion multiple logical suggestions and possible solutions will be offered to assist XYZ Construction, Inc. to be able to produce a successful global business expansion into the Asian market.

Global market analysis

There is abundant evidence that XYZ Company’s IPO and market diversity can be positively affected by expanding operations into the country of Asia. Barriers between developed and non-developed countries have been eliminated by the use of technology. (Lee, 2006)

Companies are better able to produce timely customized products and services that reflect the local ethnicity when the business is located within the country. (Management eBook, 2010) Global organizations have a competitive advantage over domestic only companies; they are able to attract and retain better employees; they offer growth opportunities and insulat...

... middle of paper ...

...ng Kong, Taiwan and China. International Journal of Management, 29, 267-278. Retrieved from: http://search.proquest.com.proxy1.ncu.edu

Humphrey, P. (2000, Winter). To avoid common pitfalls, look before you leap. The China Business Review, 1, 88. Retrieved from: http://search.proquest.com.proxy1.ncu.edu

Janowski, T. (2012, April 4). Hays sees strong 2012 Asia growth, improved global outlook. Reuters. Retrieved from: http://www.reuters.com

Kimura, M. (2005). Ethical Challenges facing Japanese businesses. Asian Perspective, 1, 135-155. Retrieved from: http://www.asianperspective.org/articles/v29n1-f.pdf

Lee, P. (2006, September). New Economic Arms Race. Euromoney, 86-97. Retrieved from: http://search.proquest.com.proxy1.ncu.edu

SKS7000 Executive Concepts in Business Strategy [VitalSource]. (2010). Retrieved from: http://online.vitalsource.com/books/9780558870638

Show More
Related

  • Strategic Drift of WRSX

    1388 Words  | 3 Pages

    On the first board meeting, WRSX board decided not to take the market opportunity in China because of the intended strategy that was made in the strategic choices in order to create efficient local presence first . The client feedback suggests that it is too risky to develop presence in China's market. On the other hand, the feedback suggests that not entering Chinese market will lead to missed business opportunities in the country and with clients looking to create global campaigns there. By that time, the negative impact in entering Chinese market could be in terms of financial and business risk. However, the feedback suggests a positive impact for management of growth, client attraction and retention and leadership capability. The decision to create cultural change in New York, where WRSX already have an office, was taken in complementation to maintain the poor performance of the local agency in US.

    Read More

  • Nike And Nike: Globalization And The Value Chain

    1795 Words  | 4 Pages

    Globalization among companies has been increasing due to the high potential profits and the lower costs of labor and resources. Venturing to other countries, which have lower costs of lower costs of living, can support their families on lower salaries. Companies that don’t have to spend as much on salaries and benefits are a great way for the company to save money and increase their profits. When looking to other countries to expand to, they will need to review their value chain to make sure they are able to keep their same values with their expansion.

    Read More

  • Ethical Issues In Construction Case Study

    1577 Words  | 4 Pages

    Currently, XYZ Construction Inc. receives a majority of their contracts from the state government. The purpose of this essay is to analyze and discuss ethical and social issues, along with cultural diversity when expanding

    Read More

  • Achieving World Class Business Performance

    864 Words  | 2 Pages

    General Motors is knocking on the door to world class business performance. Ohmae’s five stages of global operation support General Motors aspirations. From stage one to stage five there are significant differences to becoming a global organization. For instance, stage one, states that a company supports arm’s length customer export activity by a domestic company that links up with local and distributors to function. This stage represents the entry level global corporation. General Motors is at stage 4 of Ohmae’s five stages of becoming a global corporation, because it has exemplified the following traits: Systems and tools used globally not just at headquarters, R&D, Engineering and other business operations have a global focus, and all support functions are applied globally. (MFGO 601, WK. #2 Lecture Notes) An example of Ohmae’s, stage ...

    Read More

  • Analysis Of Theodore Levitt The Globalization Of Markets

    1168 Words  | 3 Pages

    Today, many companies enter the global market, and some companies have become extremely successful in the global marketplace and others still struggling. In Theodore Levitt’s article “The Globalization of Markets”, he states that a well managed corporation focuses on selling standardized products with high quality and low priced instead of focuses on selling on customized products with high cost. Levitt defines the differences between multinational corporation and global corporation, and adopts many specific examples to proves his view. He defines the multinational corporation who operates in many countries and adjust its product based on the taste of specific region. This will result in a high cost to produce the product because company have to input more resource into each individual product. However, global corporation sells similar product worldwide at relative low cost. According to Levitt, the cultural differences are becoming more and more “homogenized”; therefore, becoming a global corporation will lead to the successful of the company in the global market.

    Read More

  • Business Ethics

    1180 Words  | 3 Pages

    In today’s global society, a Code of Ethics policy is used to label established, acceptable behaviors among that industry’s business associates, potential investors, and the corporation’s executive officers and employees, and most important, the consumer (Ethics Resource Center, 2003). In an attempt to promote an increased efficiency and productivity potential level, among employees and prospective clients, a corporation’s standard Code of Ethics should guide its members toward a more in-depth examination of their personal moral activity, and how these actions affect the people or acquaintances they encounter. A company should utilize this strategy as a model for the professional behaviors and responsibilities of its constituents, and proves the occupational advancement of that business. Ethics are important in every level of a corporation, but specifically in the day-to-day actions of its members, and the image the company broadcasts to its associates is fundamental in building a stable business foundation. These pledges are a vital communication tool used to covey the firm’s standards for business operations, and predominantly, its relationships with the surrounding communities (Ethics Resource Center, 2003).

    Read More

  • Business Ethics

    1630 Words  | 4 Pages

    Business ethics is a diverse field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. Does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are continuously confronted with. To understand one must

    Read More

  • Louis Vuitton in Japan

    1540 Words  | 4 Pages

    Hill, C., Wee, C. and Udayasankar, K. 2012.International Business:An Asian Perspective. 8th ed. Singapore: McGraw-Hill.

    Read More

  • Brewing Change at Breckenridge Brewery

    1661 Words  | 4 Pages

    1.     Hitt, Ireland and Hoskisson (2005), Strategic Management : Competitiveness and Globalisation, 6th Edition, Thompson & South-Western.

    Read More

  • Modes of Foreign Entry

    1603 Words  | 4 Pages

    All research fully carried out on Entry nodes on the long run remain limited to large manufacturing firms. The foreign market selection and the choice of its entry modes drastically ascertain the performance of a specific firm. Entry mode can be defined as an arrangement for an organization that is organizing and conducting business in foreign countries like contractual transfers, joint ventures, and wholly owned operations (Anderson, 1997). Internationalization is part of a strategy which is going on for businesses and organizations transfers their operations across the national borders (Melin, 1992). The firm that is planning to have the operations across the border will have to choose the country that they are planning to visit. Anderson (1997) argues that the strategic market entry decisions forms a very important part of an organizational strategy. The decision to go international is part of the internationalization strategy of the firm. Multinational Corporations that desire to have international operations will find the strategy to go international, the mode of entry is very important. Even though there are studies which have shown that the main effect of being pioneers in a market promises superior performance in terms of market share and profitability than the late movers, Luo (1997) and other researchers have found out that the effect of the first mover may be conditional and will depend on the mode of strategy that is used (Isobe, & Montgomery, 2000). There are different strategies that MNCs can use to enter new foreign markets; they include exporting, licensing/franchising, full ownership and joint ventures. The mode of exporting entails a company selling its physical products which are usually manufactured outside the...

    Read More

  • How have some Chinese companies achieved success in foreign markets?

    602 Words  | 2 Pages

    Over the last 30 years the world has seen drastic changes in the Chinese way of making business. Nowadays, China has opened its businesses to the rest of the world, especially America and Europe (Teagarden & Cai, 2009). As a result, their economy has increased and the evolution of the companies have changed to be from closed doors to be international and multinational (Teagarden & Cai, 2009). This essay will analyze, first of all, how some Chinese companies have had success abroad, looking at the strategy that they applied to expand and to improve their products. Furthermore, this essay will show examples of successful Chinese firms, such as Lenovo and TCL Group, and how they achieve it.

    Read More

  • Essay On Global Expansion

    603 Words  | 2 Pages

    Investing or venturing into the international market involves critical analysis of the internal and external environment in which the company operates. Usually, a company will decide to venture internationally due to a saturated market or fierce competition in the current country of operation. The demand for a company’s products may have diminished as a result of an economic crisis thus the company will target a foreign market to sustain its sales. In other words, the firms expand internationally to seek new customers for its products. For example, the current Euro zone crisis led to low demand in Europe and many companies extended their businesses to emerging markets where demand was high. A company may also venture in the international market to enhance the cost-effectiveness of its operations especially for manufacturing companies that will benefit from low costs of production in developing world. Global expansion is a long term project as it involves demanding logistics to be successful. Thorough research must be undertaken to ensure that the expansion will create value for share...

    Read More

  • Decision Making In Global Organizations

    1644 Words  | 4 Pages

    In today's business environment, there is sustained pressure for companies to maximize productivity in order to be competitive in the marketplace. Many businesses are moving a variety of activities, such as manufacturing and product development, to countries with low labour costs. They are also opening up sales channels in many new markets. The resulting global organizations need to structure themselves, so that they can effectively manage operations across numerous locations. This paper looks at how the organizational structure of a global company influences decision-making at the regional level, and how this can affect the business performance. This paper will:

    Read More

  • National Culture Influences on International Management

    2527 Words  | 6 Pages

    Svensson, G., 2001. 'Globalization' of Business Activities: A 'Global Strategy' Approach, Management Decision, 39(1), pp.6-18.

    Read More

  • The Importance Of Ethics In Business

    1265 Words  | 3 Pages

    Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out

    Read More

More about Business Ethics and the Global Dimensions of Business

Open Document