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Relevance of ethics within a global business environment
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Ethical decisions making can be more challenging from country to country because of cultural variations. One thing may be acceptable in one’s country, but it is not acceptable in another country. Managers have to be able to address that issues and to keep a unique ethical climate market that is acceptable globally. Ethical rules for international firms should be conventional; meaning, the same way that 2+2 = 4 everywhere. For example, the international professional ethics for auditors are similar those of the United States. It requires auditors to be competent and independent. Nowadays, foreign firms can have far-reaching consequences for the decisions they make. For instance, the financial crisis in 2008 that occurred in the United States
Bush, S. S., Connell, M. A., & Denney, R. L. (2006). Ethical Practice in Forensic Psychology: A Systematic Model for Decision Making. Retrieved from http://dx.doi.org/10.1037/11469-001
On April 24th, 2014, one simple recording released by TMZ made Donald Sterling, owner of the NBA’s Los Angeles Clippers, the most hated man in America. In this recording, Sterling ranted over the fact how he did not want V. Stiviano, his partner, to be affiliated with any African Americans. As a result of his racist statements, fans, athletes, and sports organizations/members, voiced their opinions on the matter, flourishing social media. Many star players such as LeBron James, Michael Jordan, Magic Johnson, and a majority the Clippers players acknowledged that something had to be done, and that the NBA is no place for racism. In the end, after team owners took a vote, NBA commissioner Adam Silver held a press conference enlightening the public
Making the moral right decision is never seen on paper. What could be seen as the right thing to do, may not be the right thing for other people. Also, making decisions and then having to face them later on, can impose a difficult problem for many people. Many of us have made a decision that we end up regretting later on. In the healthcare field, decision making could be life and death of a patient
When you accept familiar clientele, you accept not being able to break confidentiality and possibly tarnishing your familial ties. Family and friends expect more of you than your clients who do not know you outside of the room. Friends and family do not expect to have boundaries even if they become your patients, which brings me to my next point: boundaries in forensic psychology.
Workplace ethics engages in judgements and collective agreements regarding a suitable guide of behaviour. The ethical decision making framework (EDM) presents, business decision is ethical or unethical.EDM provides an indication of traditional decision making process and issues that manipulate ethical decisions. Employees tend to fraud because they can experience the unfair treatments or situation that they face. Manages may ask employee to work long hours, and then they can take additional time off. Good performance leads to remunerations and appreciation managers than workers.
Ethical behavior is behavior that a person considers to be appropriate. A person’s moral principals are shaped from birth, and developed overtime throughout the person’s life. There are many factors that can influence what a person believes whats is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company. (Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in an business environment, or by a business. There are many situations that can arise in which a person is experiencing an ethical dilemma. They have to choose between standing by their own personal ethical standards or to comply with their companies ethical standards. In some instances some have to choose whether to serve their own personal interests, or the interest of the company. In this essay I will be examining the financial events surrounding Bernie Madoff, and the events surrounding Enron.
In the profession of Dental Hygiene, ethical dilemmas are nearly impossible to avoid, and most hygienists at some point in their professional life will have to face and answer ethical questions. Some ethical conflicts the dental hygienist may encounter can be quite complex and an obvious answer may not be readily available. In the article Ethical Decision Making, Phyllis Beemsterboer suggests an ethical decision-making model can aide the dental hygienist in making appropriate decisions when confronted with an ethical situation, and that the six-step model can serve dental hygienists in making the most advantageous ethical decision (2010).
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Ethical issues in business arise because of conflicts between an individuals personal moral philosophies and values and values or attitudes of organization in which a person works and a society in which one lives. Ethical issues can be identified in terms of the major participants and functions of business. Ethical issues related to ownership include conflicts between manager’s duties to the owners and their own interests, also separation of ownership and control of business. Financial issue includes, for example, the accuracy of reported financial documents. Ethical issues can acquire between manages and employees, then employees are asked to carry out assignments they consider unethical. Consumers and marketing issues are related to providing safe desired products for a fear price and not harming people and an environment. Accountants also face ethical dilemma, they have to deal with competition advertising commission. All of this places the accounting profession in situation of ethical risk.
In Ethics there are certain factors that influence the individual to distinguish from right or wrong such as, our culture, family, life experiences, our environment, religion and many more. But in today’s contemporary ethical dilemma many tend to view serious issues such as abortion and euthanasia with a different approach. Many view these issues with a different dilemma because yet again everyone has different views on how they view life and what they come to conclude as morally wrong. This view also brings the challenge whether the government should have power over decisions like this. Most of our decisions are based on our moral values since “our values shape our thoughts, feelings, actions, and perceptions” (Velasquez 431). But in today’s
In this paper, I will attempt to discuss what should be the norm for international business and optimal resolution for ethical dilemmas that all multinational organizations should adhere to as part of its normal conduct of business. Furthermore, I will discuss how to resolve the dilemma around fair wages paid to its employees, keeping the organization sensitive to various international cultures it operates in and to not let any local corruption and bribery shadow the good efforts and image of the organization.
Ethical standards that evolved over the history of Western civilization deal with interpersonal relationships. What is right or wrong? What one should do and not do when dealing with other people. Ethical behavior in a business environment has not been as clearly defined. When businesses were small and the property of a few individuals, traditional ethical standards were applied to meet different situations. However, as businesses became larger, the interpersonal ethical relations did not provide any clear behavioral guidelines. Likewise, the principles of ethical relationships were even less pertinent to the corporate environments.
An organization may have its personal code of ethics and the environment or members of the organization can be a barrier to the fulfilling of its code of ethics if they behave unethically. A manager is obliged to follow the organization’s ethics and more again when dealing with international business. Managers dealing with international business or partnership are vowed to the ethic of: communication, privacy, safety, etc. If these ethics are not respected, it can be a source of discord and ruin to each of the organizations. A clear example is seen in the book Carpenter, M., Taylor, B., Erdogan, B. (2009). Principles of Management. Nyack, NY: Chapter 3 on the Ethical Challenges Managers Face,
In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.
This paper discusses the role of ethics in corporate governance. I seek to show the application of moral and ethical principles in corporate governance. Ethics is a topic that has generated a lot of interest in the last decade especially after high profile scandals. The failures of prominent companies such as WorldCom, Enron, Merrill lynch and Martha Stewart portrays the lack of corporate ethics. The failure of such business has seen an increased pressure to incorporate ethics in corporate governance. The result of corporate scandals has been eroding investor and public confidence. The entire economic system has experienced some form of stress from loss of capital, a falling stock market and business failures.