Comparing Ethical Business Practices
When travelling for business between different countries it’s very important to understand the different ethical practices. When looking into the different ethical business practices in organizations we will look at the four largest and fastest developing countries which are commonly known as BRIC; Brazil, Russia, India, and China. There are many similarities between these countries; however India and Brazil seem to have a more favorable ethics rating than China and Russia. While there are similar perceptions on ethical business practices, these ideas are not shared globally. As these four countries grow economically, it’s becoming more important for business leaders to understand their ethical differences.
The Brazilian term ‘Jeitinho’ is defined as “a rapid, improvised, creative response to a law, rule, or custom that on its face prevents someone from doing something.” It is basically finding the path between what is allowed by law and what makes sense. Although many of the larger companies in Brazil have a code of ethics, over 50% of companies do not have a code.
In Russia, the state dominates the business and legal world. Because of this, employees’ behavior is based more on their loyalty to specific people; they aren’t worried about what is right or wrong, or how it will affect the rest of society. In a survey done based on six different countries, Russians were found to be more likely to engage in unethical behavior if it resulted in higher profits. Some Russian behavior might be seen as unethical by the West; things like “reliance on personal networks rather than on legal contracts, lower degree of respect for private property, and higher tolerance of corruption.”
In India, it is fe...
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...y it is so important for business to express that their workplace is a safe environment where everyone is respected and treated the same due to their level of productive work.
Works Cited
http://www.diffen.com/difference/Ethics_vs_Morals http://www.wisegeek.org/what-is-the-difference-between-ethics-and-morals.htm http://www.diffen.com/difference/Ethics_vs_Morals https://answers.yahoo.com/question/index?qid=20071019150407AAwsZZx http://www.cebcglobal.org/uploaded_files/Ethical_Business_Practices_in_BRICs.pdf http://investor.google.com/corporate/code-of-conduct.html http://www.bmo.com/pdf/2013_FirstPrinciples%20EN.pdf http://www.microsoft.com/en-us/legal/compliance/Buscond/default.aspx http://www.grant-thornton.co.uk/Documents/Code%20of%20conduct.pdf http://www.iep.utm.edu/mill-eth/ http://www.csus.edu/indiv/g/gaskilld/ethics/Kantian%20Ethics.htm
Are businesses in corporate America making it harder for the American public to trust them with all the recent scandals going on? Corruptions are everywhere and especially in businesses, but are these legal or are they ethical problems corporate America has? Bruce Frohnen, Leo Clarke, and Jeffrey L. Seglin believe it may just be a little bit of both. Frohnen and Clarke represent their belief that the scandals in corporate America are ethical problems. On the other hand, Jeffrey L. Seglin argues that the problems in American businesses are a combination of ethical and legal problems. The ideas of ethical problems in corporate America are illustrated differently in both Frohnen and Clarke’s essay and Seglin’s essay.
Importance of ethics in the business world is superlative and global. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Nowadays, the need for proper ethical behavior within
The concept of business ethics refers to a set of guiding principles that encourage individuals in an organization to make decisions based on the company’s stated beliefs and attitudes toward business practices within its industry (Lisa McQuerrey., 2016). Ethical and Unethical business decisions have long been a predicament encountered by organisations, these practices are concerned with how the companies interact with the global business world, and to their one-on-one dealings with individuals (Garry Crystal, 2016.) The concept of ethics and social responsibility emerged into the business world in the early 1970s after the end of World War I, saw these organisations become more profit driven resulting in negative impacts on society at large.
Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?
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).
The term “ethical business” is seen, by many people, as an oxymoron. This is because a business’s main objective is to make as much money as possible. Making the most money possible, however, can often lead to unethical actions. Companies like Enron, WorldCom, and Satyam have been the posterchildren for how corporations’ greed lead to unethical practices. In recent times however, companies have been accused of being unethical based on, not how they manage their finances, but on how they treat the society that they operate in. People have started to realize that the damage companies have been doing to the world around them is more impactful and far worse than any financial fraud that these companies might be engaging in. Events like the BP oil
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
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.
Further, it makes sense that a safe workforce is happier and thus more productive. Clearly, however, such a system requires an effective enforcement
Ethical business practices include assuring that the highest legal and moral standards are observed in your relationships with the people in your business community. This includes the most important person in your business, your customer. Short term profit at the cost of losing a customer is long term death for your business.
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.
In conclusion, companies that seek to integrate into global markets usually encounter several problems because of the effect of globalization on business practices. The challenges originating from such integration is attributed to the differences in cultures in various societies across the globe. As evident in Google’s dilemma in China, there is no single set of universal ethics that are applicable to all settings and societies across the globe. Companies such as Google need to develop varying ethical standards that are relevant and appropriate to various nations and cultures in the world. This would enable the companies that are integrating into global markets to avoid ethical issues while maintaining effective business practices.
...once all the protective measures and policies have been incorporated into the culture of the company the safety of personnel will follow.
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
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