Question

If you were in charge of developing a consensus and having to draft a uniform Global Business Ethics Policy to be offered for global adoption for engaging in international business, what are the “basic” standards and conduct that such a policy might address and include?

Number and identify/discuss/explain at least four specific standards or types of conduct that should be included. They should be numbered 1-4 with an explanation below each.

Answer 1

Some of the ethical issues in international business are working conditions, diversity in workplace, corruption and bribery , human rights ,environment etc.Businesses which trade internationally are required to follow federal and state safety regulations,laws of environment,fiscal and monetary statutes and laws of civil rights.

1)Federal and state safety regulations -Government regulations try to maintain safe working conditions in businesses. Workplace accidents destroy the business. Many Americans are either killed or disabled due to on job accidents.Occupational safety and health act (OSHA) regulations are required to be followed by all businesses.

2)Environmental laws protect the environment . They control pollution , protect forests,determine the use of natural resources , and protect animal and fish.If the business pollutes water bodies then specific permits are needed.

3)Fiscal and monetary statutes should be followed as fiscal policy affects aggregate demand and monetary policy impact money supply in the economy.

4)Laws of civil rights-The legal system of a country is important for international business.A country's legal law controls business practices,civil rights and obligations of business.